审计师质量对资本结构的影响

发布时间：2018-03-31 11:45

本文选题：审计师质量　切入点：资本结构　出处：《科研管理》2016年11期

【摘要】：对于审计师质量对资本结构的影响,现有实证研究并不充分,且现有研究忽略了二者之间的相互关系。本文利用2008-2011年A股上市公司及其主审会计师事务所数据,以事务所行业专长和规模作为审计师质量的替代变量,并采用联立方程方法来解决审计师质量与资本结构之间相互影响所产生的内生性问题,进而实证考察审计师质量对资本结构的影响。结果发现,审计师质量对资本结构具有显著的负向影响。进一步研究表明,上述负向关系在国有企业中比在非国有企业中更为明显。并且,上述负向关系仅存在于法治环境、信贷环境较好地区。本文的研究可以提供转型经济环境下审计师质量与资本结构之间关系的经验证据,从而丰富资本结构影响因素的文献,并加深对审计在公司融资过程中作用的理解。
[Abstract]:For the impact of auditor quality on capital structure, the existing empirical research is not sufficient, and the existing studies ignore the relationship between the two. This paper uses the data of A share listed companies and their lead audit firms from 2008 to 2011. Taking firm industry expertise and scale as the substitute variable of auditor quality, and adopting simultaneous equation method to solve the endogenous problem caused by the interaction between auditor quality and capital structure. The results show that auditor quality has a significant negative effect on capital structure. The above negative relationship is more obvious in state-owned enterprises than in non-state-owned enterprises. Moreover, these negative relationships only exist in the environment of rule of law. The research in this paper can provide empirical evidence on the relationship between auditor quality and capital structure in the transition economy environment, thus enriching the literature on the influencing factors of capital structure. And deepen the understanding of the role of audit in the financing process of the company.
【作者单位】：河海大学商学院;南京大学商学院;
【基金】：国家自然科学基金面上项目《外部审计对上市公司投融资行为的影响》(71272099;起止时间2013.1-2016.12);国家自然科学基金青年项目《审计师对客户税收激进度的反应》(71602047;起止时间2017.1-2019.12) 中国特色社会主义经济建设协同创新中心资助
【分类号】：F239.43

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