国有企业瘦身健体改革的治理成效研究——基于外部审计视角

Governance effectiveness of state-owned enterprise streamlining and strengthening reform:a study based on external audit perspective

以2010—2021年A股上市公司为研究样本,运用双重差分模型估计方法,系统考察瘦身健体改革方案实施对企业财务报表审计费用的影响及其作用机制。研究结果表明,瘦身健体改革方案实施显著降低了国有企业财务报表审计费用,这一结论在一系列稳健性检验之后依旧成立。机制检验结果表明,减少审计资源投入和提升内部控制质量是瘦身健体改革方案实施显著降低国有企业财务报表审计费用的两个重要渠道。进一步研究发现,瘦身健体改革方案实施显著降低企业财务报表审计费用的这一现象在数字化进程较快、分析师关注度较高以及媒体负面报道较多的国有企业中更为明显。

Using A-share listed companies from 2010 to 2021 as the research subjects,this study employs the difference-in-differences model estimation method to examine the impact of streamlining and revitalizing reform programs on corporate financial statement audit fees and their operating mechanisms.The research findings indicate that the reform programs significantly reduce the financial statement audit fees of state-owned enterprises,a conclusion that remains valid after a series of robustness tests.Mechanism examination results suggest that reducing audit resource allocation and enhancing internal control quality are two significant channels for the successful implementation.Further research reveals that the reduction is more pronounced in state-owned enterprises with a faster digitalization process,higher analyst attention and more negative media coverage.This paper not only shows new evidence of the impact of state-owned enterprise reforms on corporate governance from a dynamic perspective but also expands relevant literature on factors influencing financial statement audit fees.Additionally,it provides empirical evidence for evaluating the governance effectiveness of streamlining and revitalizing reforms in state-owned enterprises.