沪市A股上市公司非标准审计意见的市场效应研究

发布时间：2018-03-31 22:08

本文选题：上市公司　切入点：非标准无保留审计意见　出处：《江苏大学》2008年硕士论文

【摘要】： 有关审计意见的市场效应究竟有何特点,目前国内外文献均未取得一致的结论,分析其原因主要是研究方法和样本选取上的差异所致。2001年以来,我国加大了对上市公司信息披露的监管,信息披露更加规范,样本数据真实性更强,使得审计的质量得到了进一步的保证。在此背景下,审计意见的市场效应有何特点?本文试图通过对相关文献的分析,以沪市上市公司2005—2007年的数据为样本,研究审计意见市场效应的特点,为证券市场相关各方的决策提供参考。本文的研究主要分五个部分进行: 第一部分,绪论。本部分主要说明本文的选题背景,对国内外有关审计意见市场传导效应研究的文献作一个综述后,通过对相关文献的分析,为本文的研究提供一些思路。本部分还提出了本论文研究思路和研究方法,以及本文的突破点,并安排本文的研究框架。第二部分,审计意见市场效应的的理论分析。本部分主要对支撑审计意见市场效应的信号理论进行分析,阐述了注册会计师、公司管理层、信息使用者(投资者)和股价对审计意见所做出的反应。第三部分,审计意见市场效应的制度分析。本部分主要对2001年以来,国家相关部门颁布的一些有关信息披露方面的法规政策进行了简单介绍,特别是2006年审计准则公布后,通过统计分析揭示了制度背景的变化对审计市场的影响。第四部分,实证研究设计和结果。在文献综述和理论分析的基瓷?本部分根据本研究样本选取的条件,对所搜集到的2005—2007年沪市被出具非标准意见的公司进行筛选,然后利用非正常报酬率法和多元回归法,建立模型和并研究的具体步骤进行设计,多元回归的因变量有以下四个:审计意见类型,企业资产账面价值,股利分配方案和净资产报酬率。利用本文所设计的研究方法,对所选样本进行实证研究,并对研究结果进行分析。结果显示:非标准审计意见有明显的市场负反应。第五部分,结论和政策建议。本部分首先将对本研究进行总结,然后,从证券市场监管与注册会计师审计行业监管两个角度提出若干建议以助于提高我国上市公司年报中披露的审计意见的信息含量,强化市场效应,最后提出本文实证研究的不足之处,为后续研究者提出若干建议以改善相关研究。
[Abstract]:What are the characteristics of the market effect of audit opinion? at present, there is no consistent conclusion in domestic and foreign literature. The reasons are mainly caused by the differences in research methods and sample selection. China has increased the supervision of information disclosure of listed companies, more standardized information disclosure, more authentic sample data, so that the quality of the audit has been further guaranteed. In this context, what are the characteristics of the market effect of audit opinion? This paper attempts to study the characteristics of audit opinion market effect based on the data of listed companies in Shanghai Stock Exchange from 2005 to 2007 through the analysis of relevant literature, and provide a reference for the decision-making of relevant parties in the stock market. The research of this paper is divided into five parts:. The first part, introduction. This part mainly explains the background of this paper, after a review of the domestic and foreign literature on the market conduction effect of audit opinion, through the analysis of the relevant literature, This part also puts forward the research ideas and methods of this paper, as well as the breakthrough points of this paper, and arranges the research framework of this paper. The second part is the theoretical analysis of the market effect of audit opinion. This part mainly analyzes the signal theory that supports the market effect of audit opinion. The reaction of information users (investors) and stock prices to the audit opinion. The third part is the institutional analysis of the market effect of audit opinion. This part mainly introduces some laws and regulations on information disclosure issued by the relevant departments since 2001, especially after the promulgation of audit standards in 2006. Through the statistical analysis, it reveals the influence of the change of the system background on the audit market. The fourth part, empirical research design and results. In the literature review and theoretical analysis of the base porcelain? In this part, according to the selected conditions of this research sample, we screen the companies that were issued non-standard opinions in Shanghai Stock Exchange from 2005 to 2007, and then use the abnormal rate of return method and the multiple regression method. There are four dependent variables of multiple regression: audit opinion type, enterprise asset book value, dividend distribution scheme and net asset return rate. The empirical study on the selected samples and the analysis of the results show that the non-standard audit opinion has obvious negative market reaction. Part V, conclusions and policy recommendations. This part will first summarize this study, and then, From the two angles of securities market supervision and CPA audit industry supervision, this paper puts forward some suggestions to improve the information content of audit opinions disclosed in the annual report of listed companies in China, and to strengthen the market effect. Finally, the shortcomings of the empirical research in this paper are put forward, and some suggestions are put forward to improve the related research.
【学位授予单位】：江苏大学
【学位级别】：硕士
【学位授予年份】：2008
【分类号】：F832.51;F239.4;F224

【引证文献】