非标准审计意见与CFO变更相关性实证研究——基于2000年至2006年中国A股数据

An Empirical Study on the Correlations of No-Standard Audit Opinion and CFO Turnover

本文以2000年至2006年我国上市公司被出具的非标准审计意见为依据,研究了非标准审计意见和CFO变更之间的相关性。结果表明:CFO变更与非标准审计意见正相关;在非标准审计意见下,CFO变更对于代表业绩的总资产主营业务利润率(COROA)、总资产净利润率(ROA)并不敏感,但是对CEO变更、两职兼任和股权制衡程度更加敏感。验证了非标准审计意见外部审计治理机制的有效性,表明外部审计治理有效促进了公司内部治理机制的完善。

According to 2000-2006 the listed companies'data to base on non-standard audit opinion in China,this paper uses correlation analysis and Logistic regression methods studying the correlation between the CFO turnover and non-standard audit opinion.The results show that:CFO turnover and non-standard audit opinion are significant positive correlation.In the non-standard audit opinion,CFO turnover is not sensitive on behalf of the performance of the core operating return to total assets(COROA)and return to total assets(ROA),but CFO turnover was significant sensitive for CEO turnover,chairman of the board and general manager of part-time and check-and-balance ownership structure.The conclusion is verified by non-standard audit opinion that the external audit of the effectiveness of governance,external audit also shows that promote the effective management of the company's internal governance mechanism.