审计报告改革提升了IPO企业质量吗?——基于公司上市后业绩变脸的视角

Has the Audit Report Reform Improved the Quality of IPO Enterprises?Based on the Perspective of Performance Change after Listing

IPO审计对从源头上提高上市企业质量发挥着极其重要的作用,基于2014—2021年我国IPO企业样本数据,从业绩变脸角度,实证检验了审计报告改革对提升IPO企业质量的作用及影响路径。研究显示:披露关键审计事项抑制了IPO业绩变脸,且主要通过披露的事项数量、收入和减值事项产生积极影响;相比较而言,披露收入事项的作用效果要强于披露减值事项;进一步研究发现,披露关键审计事项会通过抑制盈余管理来抑制IPO业绩变脸。研究结论丰富了审计报告改革市场影响的研究成果,对在把好资本市场“入口关”中进一步发挥独立审计的作用提供了有价值的参考。

The IPO audit plays an extremely important role in improving the quality of listed enterprises from the source.Based on the sample data of Chinese IPO enterprises from 2014 to 2021,from the perspective of performance change,this paper empirically tests the role of audit report reform on improving the quality of IPO enterprises and its influence path.The research shows that the disclosure of key audit matters inhibits the change of IPO performance,and has a positive impact mainly through the number of KAM,matters of revenue and impairment;comparatively speaking,the effect of disclosure of income items is stronger than disclosure of impairment items.Further analysis shows that the disclosure of key audit matters inhibits IPO performance reversals by inhibiting earnings management.The conclusion of this study enriches the research results of the impact of audit report reform on the market,and provides a valuable reference for further playing the role of independent audit in the“gateway”of capital market.