上市公司更换审计师的经济后果研究

发布时间：2018-05-12 15:29

本文选题：上市公司 + 更换审计师　；参考：《东北林业大学》2007年硕士论文

【摘要】： 近年来，我国证券市场中上市公司更换审计师的案例日益增多。更换审计师作为市场经济中上市公司一种特殊经济行为，毫无疑问具有一定的经济后果。具体而言，审计报告的经济后果是通过审计意见类型的表达差异来体现的，审计师变更对审计意见类型产生影响，从而产生经济后果。人们对公司通过审计师变更来获取更有利审计报告的关注，迫使管制机构对此做出回应，并采取了种种管制措施。然而，这些措施是否必要，是否反应过度，对相关利益方有什么影响，，对投资者的投资决策有什么意义，市场对审计师变更的反应程度如何，都需要经验证据的证实。本文首先对国内外相关研究进行系统梳理，对相关审计市场及经济后果理论进行系统总结，并对我国审计市场的特点予以概括。在此基础上，本文选取了2003、2004、2005年我国证券市场中上市公司发起的审计师变更的A股上市公司为样本，研究变更审计师后上市公司如何选择后任审计师以及这种选择如何影响审计意见，从而找出上市公司是否实现了以及在多大程度上实现上述动机。另外，作为公开披露的重大事件之一，更换审计师可能会产生市场反应，本文试图对我国证券市场中的若干审计师变更样本进行检验，以发现审计师变更事件是否存在市场反应及其潜在含义。通过实证研究发现，上市公司更换审计师存在明显的购买审计意见的目的，而且他们成功地达成了此目的。更换审计师事件在董事会决议公告日前后时窗存在市场反应，在股东大会决议公告日前后时窗则不存在市场反应。这说明在我国证券市场中，相关的信息披露制度逐渐完善，市场对上市公司更换审计师做出了反应。但由于上市公司在实际操作时并未完全按规定执行，存在着信息披露严重滞后、虚假披露等问题，因而需要加强对上市公司信息披露的及时性和规范性的监管。
[Abstract]:In recent years, the number of listed companies changing auditors in China's securities market is increasing. As a special economic behavior of listed companies in the market economy, the replacement of auditors undoubtedly has certain economic consequences. Specifically, the economic consequences of the audit report are reflected by the differences in the expression of the type of audit opinion, and the change of auditors has an impact on the type of audit opinion, thus producing economic consequences. The concern that companies obtain more favourable audit reports by changing auditors forces regulators to respond and take various controls. However, whether these measures are necessary, overreacted, have any impact on the relevant stakeholders, what is the significance to investors' investment decisions, and how far the market responds to the change of auditors needs to be verified by empirical evidence. Firstly, this paper systematically reviews the relevant research at home and abroad, summarizes the relevant audit market and the theory of economic consequences, and summarizes the characteristics of the audit market in our country. On this basis, this paper selects the A-share listed companies initiated by the listed companies in China's stock market in 20032004 and 2005 as the samples. This paper studies how the listed company chooses the subsequent auditor after the change of auditor and how this choice affects the audit opinion, so as to find out whether and to what extent the listed company has realized the above motivation. In addition, as one of the important events of public disclosure, the change of auditor may produce market reaction. This paper attempts to test several samples of auditor change in China's securities market. To find out whether there is a market reaction to the auditor change event and its potential implications. Through empirical research, it is found that there is a clear purpose of purchasing audit opinions in the exchange of auditors of listed companies, and they have successfully achieved this purpose. There is a market reaction in the time window of the auditor change before and after the announcement day of the board resolution, but there is no market reaction in the time window before and after the announcement date of the resolution of the shareholders' general meeting. This shows that in China's securities market, the relevant information disclosure system is gradually improved, and the market has reacted to the change of auditors of listed companies. However, due to the fact that the listed company is not carried out in accordance with the regulations in practice, there are some problems such as serious lag of information disclosure and false disclosure, so it is necessary to strengthen the supervision of the timeliness and standardization of information disclosure of listed companies.
【学位授予单位】：东北林业大学
【学位级别】：硕士
【学位授予年份】：2007
【分类号】：F276.6;F239.4

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