碳市场对审计定价的溢出效应研究

Spillover Effects of Carbon Markets on Audit Pricing

基于渐进推进的碳市场试点作为外生事件,使用多期三重差分模型探讨碳市场对高碳企业审计定价的影响。研究发现:碳市场的建立会对审计定价产生积极的溢出效应,从审计定价的视角支持了波特假说;政策动态效应表明在排除政策预期效应后,碳市场当期就对审计定价产生影响且呈强化趋势。机制检验发现碳市场通过信号效应渠道和绿色转型渠道影响审计定价,市场化水平和地区环保意识可以进一步加强碳市场对审计定价的溢出效应,还排除了审计意见购买假说。异质性分析结果表明,碳市场覆盖的不同行业和不同的碳市场试点区域存在差异性和非对称性影响。

Based on the gradual promotion of carbon market pilot as an exogenous event,this paper uses a multi-period triple difference model to explore the impact of carbon market on the audit pricing of high-carbon enterprises.It is found that the establishment of carbon market will have a positive spillover effect on audit pricing,which supports the Porter hypothesis from the perspective of audit pricing.The policy dynamic effect shows that after excluding the expected effect of policy,the carbon market has an impact on audit pricing in the current period and shows a strengthening trend.The mechanism test shows that the carbon market affects audit pricing through signal effect channels and green transformation channels,and the marketization level and regional environmental awareness can further strengthen the spillover effect of the carbon market on audit pricing,and also exclude the audit opinion purchase hypothesis.The heterogeneity analysis shows that there are different and asymmetric impacts in different industries covered by the carbon market and different carbon market pilot areas.