非标准审计意见对企业未来经营业绩的预示

The Prediction of Non-standard Audit Opinion on Enterprises' Future Business Performance

本文以上交所A股制造业上市公司年报数据为研究样本,利用方差分析模型研究被出具不同类型审计意见的企业在当年和未来经营业绩的差异.研究结果表明,获得非标准审计意见的企业,其经营业绩低于获得标准审计意见的公司,但显著性水平随着时间推移逐渐降低.非标准审计意见对企业未来经营业绩具备一定的预示性,但随着时间的推移,其预示性程度逐渐降低.

Based on the annual report data of A-share manufacturing listed companies in Shanghai Stock Exchange,this paper uses variance analysis model to study the differences between current and future operating performance of the companies that have been issued with different types of audit opinions. The results show that companies that obtained non-standard audit opinion have lower operating performance than companies that obtained standard audit opinion,but the significance level gradually decreases with the passage of time. The non-standard audit opinion has certain predictive value for the future business performance of the enterprises,but over time,its indicative degree gradually decreases.