审计质量和操控性应计利润定价的关系

发布时间：2018-05-08 07:20

本文选题：审计质量 + 操控性应计利润　；参考：《清华大学》2004年硕士论文

【摘要】：以权责发生制(应计)为基础的利润被普遍认为比现金流更有分析价值。应计利润允许公司管理者传达他们私有的内部信息,并且因此提高了反映公司潜在经济价值的收益能力。然而,管理者会对应计利润进行激进性的披露,这会严重破坏会计利润的信息价值。由于外部人员(即市场参与者,资本市场上财务信息使用者)不能直接观测到真实的利润,所以有着高额应计利润的公司相对于低额应计利润的公司来说,代理成本更高。审计的作用在于通过限制管理当局对操控性应计利润的投机管理,以减少这种代理成本。国外相关实证研究的数据截止到1998年,当时还是“六大”会计师事务所的局面。研究发现,在美国,“六大”会计事务所的审计质量要高于美国“非六大”会计师事务所,所以“六大”会计师事务所能够在审计的过程中更有效地限制操控性应计利润、阻止和检测出可疑的会计问题、披露重大的财务报表错误,从而使财务报表上的利润更加透明化,更加真实地反映上市公司的财务状况和经济价值。因此,投资者更加信任由“六大”审计的公司,“六大”的审计质量对投资者更具有直接意义。本文主要采用国内数据,实证研究审计质量和操控性应计利润之间的关系,以证明“四大”会计师事务所的审计质量高于国内“非四大”会计师事务所。研究的检验结果基本证明了以下结论:审计质量和操控性应计利润之间存在直接的关系,并且由“四大”审计的公司的操控性应计利润与股票回报率之间的关系要大于由国内“非四大”审计的公司;由“四大”审计的公司的操控性应计利润和未来收益之间的关系要大于由国内“非四大”审计的公司。
[Abstract]:Accrual based profits are generally considered more analytical than cash flow. Accrual allows managers to communicate their private internal information, and thus improves the profitability of reflecting the company's potential economic value. However, managers will make aggressive disclosure of the corresponding profits, which will seriously undermine the information value of accounting profits. Since external personnel (i.e. market participants, financial information users in the capital market) can not directly observe the real profit, the agency cost of the company with high accrual profit is higher than that of the low accrual profit company. The role of audit is to reduce the agency cost by limiting the management's speculative management of the operating accrual profits. As of 1998, the data of relevant empirical research in foreign countries were still the situation of the six major accounting firms. The study found that in the United States, the audit quality of the "six big" accounting firms is higher than that of the "non-six" accounting firms in the United States, so the "six" accounting firms can more effectively limit the accrual profits of the operations during the audit process. In order to prevent and detect suspicious accounting problems and disclose major errors in financial statements, the profits in financial statements can be made more transparent and reflect the financial status and economic value of listed companies more truthfully. Therefore, investors trust the companies audited by "six", and the audit quality of "six" is more direct to investors. Based on domestic data, this paper empirically studies the relationship between audit quality and operating accrual profit in order to prove that the audit quality of "Big four" accounting firms is higher than that of "non-Big four" accounting firms in China. The test results of the study basically prove the following conclusion: there is a direct relationship between audit quality and accrual profit. Moreover, the relationship between the operating accrual profit and the stock return rate of the companies audited by the "Big four" is larger than that of the "non-Big four" companies in China. The relationship between the operating accrual profit and future income of the company audited by the "Big four" is greater than that of the "non-Big four" company in China.
【学位授予单位】：清华大学
【学位级别】：硕士
【学位授予年份】：2004
【分类号】：F239.4

【相似文献】