审计师个人声誉受损与公司债务融资成本——来自中国上市公司的经验证据

发布时间：2018-04-03 09:30

  本文选题：审计师受罚　切入点：声誉受损　出处：《当代财经》2017年07期

【摘要】：以2000—2014年签字审计师受罚为切入点,系统检验了审计师个人声誉受损在客户公司债务融资活动中的信号价值。研究发现:审计师个人声誉受损会导致客户公司债务融资成本提高,而且这一声誉效应在民营企业融资中更加显著,这验证了审计师声誉机制在中国证券市场具有治理价值;进一步研究发现,审计师声誉效应伴随着审计师受罚严厉程度的增加而增强,但大型事务所的质量控制机制能够在一定程度上缓解审计师个人声誉受损的负面影响。
[Abstract]:Based on the punishment of signed auditor from 2000 to 2014, this paper systematically examines the signalling value of auditor's personal reputation damage in client company's debt financing activities.It is found that the damage of auditors' personal reputation will lead to higher cost of debt financing of client companies, and this reputation effect is more significant in the financing of private enterprises, which verifies that auditor reputation mechanism has governance value in China's securities market.Further research shows that the auditor reputation effect increases with the severity of auditors' punishment, but the quality control mechanism of large firms can alleviate the negative impact of auditors' personal reputation damage to some extent.
【作者单位】： 江西财经大学会计发展研究中心;
【基金】：国家自然科学基金项目“会计师事务所合并、智力资本与审计质量”(71362008) 江西省高校人文社会科学规划项目“进入权机制、事务所规模与审计质量”(GL1518)
【分类号】：F239.4;F275;F832.51
，

本文编号：1704607