审计任期、公司治理与盈余质量

The Different Effect of Auditor Tenure on Earnings Quality——Based on different level of corporate governance

通过利用修正的琼斯模型计算出的异常应计的绝对值作为盈余质量的替代变量,用选取的九个公司治理变量利用主成分分析方法构造的公司治理指数来度量公司治理总体水平,本文探讨了公司治理与审计任期对盈余质量的联合影响。研究结果表明,公司治理水平的提高有助于盈余质量的提高,在好的治理环境下审计任期的延长会提高盈余质量,在差的治理环境下审计任期的延长对盈余质量没有影响。

This paper examines the joint effect of corporate governance and auditor tenure on earnings quality, while past researches take consideration of corporate governance and auditor tenure individually. Taking the absolute of abnormal accruals based on modified Jones model as the proxy of audit quality, constructing the index of corporate governance to measure the level of corporate governance in use of main component analysis on nine corporate governance variables, we find that the level of Corporate governance is positive relation to earnings quality, and earnings quality is higher with longer auditor tenure under the circumstance of good corporate governance, while auditor tenure has no impact on earnings quality under the circumstance of poor eorporate governance.