外部审计与大股东连续减持——基于2007~2014年沪深A股上市公司样本

发布时间：2018-03-20 15:55

本文选题：大股东连续减持　切入点：外部审计　出处：《财会月刊》2016年17期 　论文类型：期刊论文

【摘要】：本文以后股权分置改革时期的大股东连续减持行为为研究对象,以2007~2014年我国9313个沪深A股上市公司为样本,实证分析了外部审计对大股东连续减持的治理作用。研究发现,外部审计对大股东连续减持行为产生了明显的抑制作用,若上市公司的会计师事务所为国际"四大"或国内"十大",则出现大股东连续减持的概率明显更低;而且相较于国内"十大",国际"四大"对于上市公司大股东连续减持行为的抑制作用更强。进一步研究发现,大股东会避免在年度财务报告披露期间连续减持。
[Abstract]:In this paper, the continuous reduction behavior of large shareholders in the period of split share structure reform is studied. Taking 9313 Shanghai and Shenzhen A-share listed companies in China from 2007 to 2014 as samples, this paper empirically analyzes the governance effect of external audit on the continuous reduction of large shareholders. External audit has an obvious inhibitory effect on the continuous reduction of large shareholders. If the accounting firms of listed companies are international "big four" or domestic "ten", the probability of continuous reduction of large shareholders is obviously lower; Moreover, compared with the domestic "ten", the international "big four" has a stronger inhibitory effect on the continuous reduction of large shareholders in listed companies. Further study shows that large shareholders will avoid the continuous reduction of holdings during the period of annual financial report disclosure.
【作者单位】：四川外国语大学国别经济与国际商务研究中心;四川外国语大学国际商学院;
【基金】：国家自然科学基金青年项目“控制权配置、审计监督与国企高管自利行为”(项目编号:71402109) 重庆市社会规划博士项目“基于行为金融视角的上市公司现金股利政策稳定性研究”(项目编号:2014BS035)
【分类号】：F239.4;F832.51

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