关于审计委员会特征与信息披露质量的实证研究

An Empirical Study on Audit Committee Characteristic and Quality of Information Disclosure

审计委员会制度是我国继引进监事会制度后又一项完善公司治理结构的重大举措。本文旨在检验这一制度是否提高了我国上市公司的信息披露质量,以及提高信息披露质量的审计委员会特征。我们研究了我国上市公司审计委员会的独立性、专业性、活跃性以及平均受教育年限与信息披露质量之间的关系。结果表明：审计委员会的独立性与信息披露质量之间存在显著的正相关关系；审计委员会的专业性与信息披露质量之间的关系没有通过显著性检验；审计委员会的开会次数与信息披露质量之间存在显著的负相关关系；审计委员会成员的学历水平与信息披露之间也呈现显著的正相关关系。我们的结论证实了独立的和高学历的审计委员会能够提高信息披露质量,而包含财务专家的审计委员会却不能提高信息披露质量,频繁的开会只是为了事后解决频繁发生的问题而非前慑性地去履行职责。

After the introduction of the board of supervisors, audit committee system is another great measure to perfect the corporate governance structure. In this paper, we want to empirically examine whether this system can improve the quality of information disclosure of the listed companies in our country, and whose characteristics improve the quality of information disclosure. Results of research indicate that the percentage of independent audit committee members and the number of average education years are posi- tively related to quality of information disclosure, however, the times of meeting held by audit committee are related to the quality of information disclosure. But we don^t find that the percentage of audit committee members having expertise in accounting or financial management is related to quality of information disclosure.