退市制度与审计延迟

Delisting System and Audit Delay

资本在市场上的有效配置有赖于公平严格的入市和退市制度,近些年来我国退市制度不断完善,本文以2019〜2014年我国A股上市公司为研究对象,采用倾向得分匹配方法和双重差分模型,研究了2012年退市制度变革对审计延迟带来的影响研究发现,该退市制度的实施显著降低了审计延迟。机制分析表明,该退市制度有助于提高被审计单位内部控制水平和内部治理水平,降低了被审计单位的审计风险,从而说明退市制度从这些途径影响了审计师行为,进而降低了审计延迟在进一步研究中,发现相对于国有企业,在非国有企业的样本中退市制度对于审计延迟具有更显著的抑制效应本文从新的角度本富了审计延迟影响因素的研究,也为进一步完善退市制度提供了审计市场层面的思考.

The effective allocation of capital in the market depends on fair and strict market entry and delisting systems.In recent years,China's delisting system has been continuously improved.The paper takes A-share listed companies from 2009 to 2014 as research objects,adopts methods of PSM(propensity score matching)and DID(difference in difference),and studies the impact of the 2012 delisting system reform on audit delays.The study finds that the implementation of the new delisting system significantly reduces audit delays.The mechanism analysis shows that the new delisting system helps to improve the internal control level and internal governance level of the audited entity,and helps to reduce the audit risk of the audited entity,thus indicating that the delisting system affects the auditor's behavior from these channels,thereby reducing the audit delay.In further research,the paper finds that the delisting system in the sample of non-state-owned enterprises has a more significant inhibitory effect on audit delay than state-owned enterprises.The paper enriches the research on the factors affecting audit delay from a new perspective,and provides an audit market level thinking for further improvement of the delisting system.