审计意见与大股东控制力的相关性研究

Correlation between Auditing Opinion and Controlling Right of the Biggest Stockholders

文章选取2005年1235家A股非金融类上市公司作为样本,建立模型实证审计意见与大股东控制力的关系。发现非标准审计意见与大股东控制力正相关,与股权分置改革和上市公司的盈余管理程度负相关;ST公司、重亏公司、资产负债率较高的公司更容易获得非标准审计意见。本文政策建议为:限制金字塔多层和交叉多重持股;实行国有股缩股和累退投票制度;规定更合理的股东大会决议的最低股权数;审计师应更加关注上市公司的盈余管理程度,并出具恰当的审计意见。

This paper selects1325 listed companies as a sample from 2005. By setting up a regression model with seven independent variables, we verify the correlation between auditing opinion and controlling right of the biggest stockholders. This study reveals ： first, listed companies＇ non-standard auditing opinion is positive correlated with controlling right of the biggest stockholders while negative correlated with innovation of stock right and listed companies＇ earning management ; second, listed companies＇ non-standard auditing opinion is positive correlated with listed companies with ST sign, bigger loss and higher leverage ratio. The study has policy proposals： first ,we need limit listed companies＇ pyramid-shareholding and cross-shareholding; second, we should reduce state＇s shareholding and carry out the system of decrease progressively votes; third, we can provide the more reasonable lowest percent of shareholders at shareholder＇s meeting; fourth, CPA should pay more attention to the earning management of listed companies and give them proper auditing opinion.