关键审计事项与管理层讨论与分析增量信息披露——基于MD&A文本相似度的研究

Incremental Information Disclosure of Key Audit Matters and Management Reports:Research Based on MD&A Text Similarity

研究基于2017-2020年我国沪深两市A股上市公司的样本,采用文本分析的方法,考察关键审计事项对管理层讨论与分析增量信息披露的影响。研究结果表明,关键审计事项披露增进了企业管理层讨论与分析(MD&A)的信息含量。进一步研究发现,在非国有企业、分析师跟踪较少的企业以及审计质量较低的企业中,关键审计事项披露对MD&A信息含量的提升作用更为显著。此研究基于增量信息的视角探讨关键审计事项对企业管理层的监督与治理效应,具有重要的理论和现实意义。

Based on the sample of A-share listed companies in China from 2017 to 2020,this paper uses the method of text analysis to examine the impact of key audit matters on the incremental information disclosure of management reports.The results show that the disclosure of key audit matters enhances the information content of management discussion and analysis(MD&A).Further research finds that the disclosure of key audit matters has a more significant effect on the MD&A information content in non-state-owned enterprises,enterprises with less analyst following and enterprises with lower audit quality.Based on the perspective of incremental information,this paper discusses the supervision and governance effect of key audit items on corporate management,which has important theoretical and practical significance.