摘要
CFO作为财务信息最直接的负责人,对企业的财务及经营状况最为了解。本文基于审计师的视角,探究上市公司CFO变更究竟传递了企业的何种信号。研究发现,CFO变更与审计收费显著正相关,并且发生CFO变更企业的会计信息质量更低,审计师投入更多。分组检验发现,CFO变更与审计收费的正相关关系在CFO任期短和非国有企业的样本中更显著。进一步研究表明,CFO变更后,审计师仍然感知到企业存在较高的风险。上述结果表明,CFO变更释放了企业的风险信号。本文的研究结论为资本市场参与者识别上市公司的财务信息风险提供了直接的经验证据。
As the mostly direct person in charge of financial information,CFO knows the situation of finance and operation in the corporation well.This paper investigates the effect of CFO turnover on audit fees.We find that CFO turnovers are positively associated with audit fees,since the accounting information quality becomes lower and auditors devote more effort to reduce audit risk.The positive correlation between CFO turnover and audit fees is more pronounced in the firms with a short tenure of CFO and non-state-owned enterprises.Further analysis shows that auditors perceive higher risk even after CFO turnover.These findings show that CFO turnover signals the risk of the enterprise,which provides direct evidence for capital market participants to identify financial information risk.
作者
朱磊
郑倩雯
LEI ZHU;QIANWEN ZHENG
出处
《中国会计评论》
2019年第4期605-630,共26页
China Accounting Review
基金
中央高校基本科研业务费项目(JBK19072018153)的阶段性成果
关键词
CFO变更
审计收费
会计信息质量
诉讼风险
CFO Turnover
Audit Fees
Accounting Information Quality
Litigation Risk
作者简介
通信作者:朱磊,地址:四川省成都市温江区柳台大道555号,邮编:611130,E-mail:zhulei_swufe@163.com。
