公司治理、控制权性质与审计定价

Corporate Governance,the Nature of Control Rights and Audit Fee

借鉴Simunic的审计定价模型,构建关于审计定价影响因素的多元线性回归方程,并以沪深两市上市公司2007年数据为研究对象,对股权结构、公司治理与审计定价之间的关系进行实证检验。研究结果表明,总体而言,公司治理因素对中国上市公司审计定价的解释力有限,说明中国会计师事务所在决定审计收费时对被审计单位的公司治理因素考虑较少。具体而言,终极控制人为政府的上市公司审计费用较低,股权集中度、管理层持股比例与审计定价之间大体上呈U型关系,即股权适度集中和管理层适度持股最有利于降低审计定价,进一步的研究发现,管理层持股比例与审计定价的U型关系仅存在于非国有控股公司样本中。研究还发现,中国会计师事务所在确定审计费用时会结合公司控制权的性质考虑风险因素对审计定价的影响。

Based on Simunic audit pricing model, this paper constructs a multiple linear regression equation on the factors affecting auditing pricing, and then examines the relationships between the nature of control right, corporate governance and auditing pricing using the data of A share listed companies of 2007. In a word, our findings provide scant support for the influence of corporate governance factors on auditing pricing in Chinese stock market, that＇s to say, corporate governance conditions of auditees are taken little into account by Chinese audit firms when they make decisions about audit pricing. Specifically, state-controlled listed companies pay fewer audit fees. Generally, concentration of ownership, manager ownership and auditing pricing presents U-shaped relationship speaking, in other words, moderate concentration of ownership and holding the appropriate ownership helps reduce auditing pricing. Further research suggests that the impact of manager ownership on auditing pricing only applies to nonstate-controlled listed companies. Moreover, we find evidence to support that auditors consider the influence of risk factors on auditing pricing combined with the nature of corporate control when they make auditing pricing decisions.