环保投资、环境不确定性与“清洁”审计意见

Environmental Investment,Environmental Uncertainty and“Clean”Audit Opinions

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摘要本文以2011—2020年我国沪深A股上市公司数据为样本,采用Tobit模型进行回归,实证检验环保投资、环境不确定性与“清洁”审计意见三者之间的关系。结果表明,企业环保投资能显著提高审计师出具“清洁”审计意见的概率,环境不确定性越高,环保投资提高“清洁”审计意见概率的正向作用越显著。这一结论对Heckman检验、倾向得分匹配等各种稳健性检验保持稳健。中介效应检验表明,企业开展环保投资通过降低财务风险和诉讼风险进而影响“清洁”审计意见。进一步研究发现,环保投资对“清洁”审计意见的影响在环境友好型企业、重污染企业与高分析师关注度企业中更为明显,环境不确定性越高,正向作用越显著。因此,政府应分类开展环境监管,完善有关环保方面的法律法规;企业更应制定切实可行的环保策略,积极承担环境责任,实现环境效益与经济效益同步增长。 This article takes the data of A-share listed companies in China's Shanghai and Shenzhen stock markets from 2011 to 2020 as a sample,and uses the Tobit model for regression to empirically test the relationship between environmental investment,environmental uncertainty,and“clean”audit opinions.The results show that enterprise environmental protection investment can significantly improve the probability of auditors issuing“clean”audit opinions.The higher the environmental uncertainty,the more significant the positive effect of environmental protection investment on improving the probability of“clean”audit opinions.This conclusion is robust to various robustness tests such as Heckman test and propensity score matching.The intermediary effect test shows that enterprises'environmental protection investment affects the“clean”audit opinion by reducing financial risk and litigation risk.Further research found that the impact of environmental protection investment on“clean”audit opinions is more obvious in environment-friendly enterprises,heavily polluting enterprises and enterprises with high analyst attention.The higher the environmental uncertainty,the more significant the positive effect is.Therefore,the govermment should carry out environmental supervision by classification and improve the laws and regulations related to environmental protection;Enterprises should also formulate practical environmental protection strategies,actively undertake environmental responsibility,and realize the synchronous increase of environmental and economic benefits.

作者吴良海吴晗嫣胡芳芳江浪 Wu Lianghai;Wu Hanyan;Hu Fangfang;Jiang Lang(Anhui,Maanshan,Anhui University of Technology,243032;Jiangsu,Nanjing,Nanjing University of Aeronautics and Astronautics,211100;Anhui,Maanshan,Wanjiang Institute of Technology,243031)

机构地区安徽工业大学商学院南京航空航天大学经济与管理学院皖江工学院财经学院

出处《中国审计评论》 2024年第1期71-92,共22页 China Auditing Review

基金国家社科基金后期资助项目(19FJYB023) 安徽工业大学研究生一流教材建设项目(2022yljc012) 皖江工学院校级一般项目(WG24017)

关键词环保投资环境不确定性 “清洁”审计意见 Environmental protection investment Environmental uncertainty “Clean”audit opinion

分类号 F832.51 [经济管理—金融学] F239.4 [经济管理—会计学] X322 [环境科学与工程—环境工程]

作者简介吴良海(1970-),男,安徽桐城人,安徽工业大学商学院会计系教授,博士,硕士生导师,主要研究方向为会计与投资者保护、审计理论、企业社会责任与绿色财务等;吴晗嫣(2004-),女,安徽桐城人,南京航空航天大学工商管理专业本科在读,主要研究方向为“双碳”战略下的企业社会责任;胡芳芳(1996-),女,河南周口人,皖江工学院财经学院助教,会计学硕士,主要研究方向为企业社会责任;江浪(1998-),女,安徽六安人,安徽工业大学商学院会计学研究生,主要研究方向为会计与投资者保护、审计理论。