摘要
本文以2004—2014年沪深A股上市公司为研究样本,考察产品市场竞争与会计师事务所选择的关系,试图从行业层面寻找影响事务所选择的动机。产品市场竞争一方面能降低代理成本影响公司对高质量审计的需求;另一方面能促使企业提高财务信息质量,进而在一定程度上替代外部审计在保证财务信息质量方面的作用,最终影响企业选择事务所的行为。本文研究发现企业所处行业竞争程度越高时,企业对高质量审计需求越低,且当竞争程度发生变化时,企业更可能更换事务所,具体变更方向为竞争变得更加激烈时,企业发生降级变更的可能性越大。本文还进一步探讨了不同产权性质下竞争对事务所选择的影响。本文的研究丰富了事务所选择的文献。
Based on data from China’s stock markets for the period from 2004 to 2014,we establish hypotheses regarding the relationship between product market competition and auditor choice and attempt to explain the factor of auditor choice from the perspective of industry level.On the one hand,competition can influence the demand of high quality auditor by reducing the agency cost.On the other hand,competition can improve the quality of the financial reports which can substitute for the function of auditor in making sure of high quality financial reports.Thus,competition can influence the auditor choice of companies.This study finds that competition intensity has significantly positive impact on the choice of low quality auditors.Besides,when the competition becomes more intense,companies tend to switch from a high quality auditor to a low quality auditor.This paper further explores the different impact of competition on auditor choice for firms with different ownership.Our study enriches the literature for auditor choice.
作者
刘丽华
孔东民
Liu Lihua;Kong Dongmin(School of Economics,Huazhong University of Science and Technology,Wuhan,430074;School of Finance,Zhongnan University of Economics,Wuhan,430073)
出处
《珞珈管理评论》
2019年第2期55-74,共20页
Luojia Management Review
基金
国家自然科学基金面上项目:“智力资本、公司行为与公司价值:基于人力资本与组织资本的微观研究”(项目批准号:71372130)和“公司事件、信息优势与投资者交易”(项目批准号:71772178)的资助
