摘要
本文以2007—2015年沪、深两市A股上市公司为研究样本,首先,基于盈余管理的视角,对现行准则实施后的国际"四大"会计师事务所提供的审计质量进行了实证研究;其次,突破传统"审计质量"的研究框架,进一步考察了国际"四大"是否对股价同步性产生影响。结果表明,尽管在应计项目盈余管理方面国际"四大"与非国际"四大"不存在明显差异,但在股价同步性方面国际"四大"显示出其优势:经"四大"审计的公司股价同步性显著低于非"四大"审计的公司,国际"四大"有效抑制了其审计公司的股价同步性。从更开阔的视角来讲,国际"四大"能够对上市公司产生积极影响,为中国审计市场现状提供了一个合理地解释。
Taking listed companies whose A-share stocks trade in both Shanghai and Shenzhen Stock Exchange in the during time 2007—2015 as research sample,this paper firstly conducts an empirical research whether the international Big Four provide high quality audit services or not after the new accounting standards and auditing standards were put in force,then breaks through the traditional research framework of auditing quality and further investigates the Big Four’s influence on stock price synchronicity.The result is that Big Four have advantages on the aspect of stock price synchronicity in spite of there have no significant difference on the accrual earning management.That’s to say,the firms whose auditor is Big Four have significantly lower stock price synchronicity than that of non-Big Four audit firms.This indicates that Big Four have a positive impact on the listed companies from a broader perspective and supply a reasonable explanation for the status quo of Chinese auditing market.
作者
郭照蕊
Zhaorui Guo(School of Finance and Business,Shanghai Normal University,Shanghai,200234)
出处
《金融管理研究》
2020年第1期41-61,共21页
The Journal of Finance and Management Research
关键词
国际“四大”
审计质量
应计项目盈余管理
股价同步性
international big four accounting firms
auditing quality
earning management
stock price synchronicity
作者简介
郭照蕊,男,1980年出生,博士,上海师范大学商学院副教授,主要研究领域:资本市场会计与公司治理。通信地址:上海市徐汇区桂林路100号上海师范大学商学院,电话:13764307318,邮箱:shufegzr@shnu.edu.cn
