In China, an emerging economy, where investor protection is relatively weak, it is worthwhile and interesting to investigate whether independent external auditing, a sort of external corporate governance mechanism, ex...In China, an emerging economy, where investor protection is relatively weak, it is worthwhile and interesting to investigate whether independent external auditing, a sort of external corporate governance mechanism, exerts its influence. Using a sample of all A-share listed firms in 2005, this paper investigates the effects of independent external auditing on corporate governance via three aspects： （1） choice of auditing institution; （2） auditing fee; and （3） auditing opinion for annual reports. Empirical results show that, with worse agency problems in firms, the possibility of employing the “Big 41” to audit its annual reports is bigger. When determining auditing fees, auditing institutions take both firms＇ agency problems and the firm size into account. When issuing qualified opinions for poor-performing firms, auditors do not consider agency problems embedded in concentrated ownership. Overall, external independent auditing plays a limited role in corporate governance.展开更多
Taking 248 A-share manufacturing listed companies in 2006 Shanghai Stock Exchange as example, using "index method" to measure level of environmental protection infor-mation disclosure, this paper examines th...Taking 248 A-share manufacturing listed companies in 2006 Shanghai Stock Exchange as example, using "index method" to measure level of environmental protection infor-mation disclosure, this paper examines the factors influencing level of environmental protection information disclosure. The findings show that the disclosure level has improved, but the overall level is still low and unable to satisfy information users; there is positive correlation between corporate size, industry type, accounting firm's type and corporate environmental dis-closure index. The companies of large scale and heavy pollu-tion and those audited by international "Big 4" and domestic "Big 10" accounting firms have a high level of environmental disclosure, while the profitability and financial leverage has no impact on the disclosure level. Finally some suggestions are put forward to establish environmental information disclosure sys-tem in China.展开更多
文摘In China, an emerging economy, where investor protection is relatively weak, it is worthwhile and interesting to investigate whether independent external auditing, a sort of external corporate governance mechanism, exerts its influence. Using a sample of all A-share listed firms in 2005, this paper investigates the effects of independent external auditing on corporate governance via three aspects： （1） choice of auditing institution; （2） auditing fee; and （3） auditing opinion for annual reports. Empirical results show that, with worse agency problems in firms, the possibility of employing the “Big 41” to audit its annual reports is bigger. When determining auditing fees, auditing institutions take both firms＇ agency problems and the firm size into account. When issuing qualified opinions for poor-performing firms, auditors do not consider agency problems embedded in concentrated ownership. Overall, external independent auditing plays a limited role in corporate governance.
基金Northwestern Polytechnical University and the support of 2006 and 2007 scientific research project of Xi’an international studies university to this item
文摘Taking 248 A-share manufacturing listed companies in 2006 Shanghai Stock Exchange as example, using "index method" to measure level of environmental protection infor-mation disclosure, this paper examines the factors influencing level of environmental protection information disclosure. The findings show that the disclosure level has improved, but the overall level is still low and unable to satisfy information users; there is positive correlation between corporate size, industry type, accounting firm's type and corporate environmental dis-closure index. The companies of large scale and heavy pollu-tion and those audited by international "Big 4" and domestic "Big 10" accounting firms have a high level of environmental disclosure, while the profitability and financial leverage has no impact on the disclosure level. Finally some suggestions are put forward to establish environmental information disclosure sys-tem in China.
