With the cross sectional data from the financial reports of Chinese listed corporations in 2013 as the research object, this paper does some research on the influence of the scale of assets on penalty cost of the listed corporations of China. The research finds that under the macro-economic environment of “competition for the growth” and the deficit of the fiscal revenue of local governments, the scale of assets of listed corporations has obvious influence on penalty cost. The larger the scale of asset is, the less penalty cost is. The smaller the scale of asset is, the more burden of penalty cost is.