持续经营不确定性审计意见的增量决策有用性研究——来自财务困境公司的经验证据

发布时间：2018-05-27 22:20

本文选题：特别处理 + 持续经营不确定性审计意见　；参考：《中国工业经济》2010年02期

【摘要】：与国外证券市场不同,我国证券市场上的投资者拥有相互补充的两个关于公司持续经营不确定性的信息源:ST(特别处理)与GCO(持续经营不确定性审计意见)。本文以股权分置改革前的1998—2003年间处于财务困境的我国上市公司为样本,分别采用价格模型和回报模型对GCO的价值相关性和被出具GCO公司的盈余价值相关性进行了经验考察。研究发现,不论公司是否已经被ST,GCO都会促使投资者进一步降低对公司的价值认定和导致公司更低的盈余价值相关性。这一经验结果意味着,GCO能在我国所特有的ST风险警示制度的基础上提供增量的决策有用性,持续经营审计准则的持续改进将有利于提升审计师对公司持续经营风险评估的准确性。
[Abstract]:Different from foreign securities markets, investors in China's securities markets have two complementary sources of information about the uncertainty of a company's going concern: special treatment and GCO (continuous operating uncertainty audit). Based on the sample of Chinese listed companies in financial distress during 1998-2003 before the reform of split share structure, this paper uses price model and return model to investigate the value correlation of GCO and earnings value of issued GCO company. The study found that whether or not the company has been stenciled by GCO will encourage investors to further reduce the value of the company and lead to lower earnings value correlation. This empirical result means that GCO can provide incremental decision-making usefulness on the basis of our unique St risk warning system. Continuous improvement of going-concern audit standards will help to improve the accuracy of auditors' assessment of the company's continuing operation risk.
【作者单位】：浙江财经学院会计学院;江西财经大学会计学院;浙江大学管理学院;
【基金】：国家自然科学基金青年项目“中国资本市场GCO行为:信息解读、自我预言实现及其决策机制研究”(批准号70802056)
【分类号】：F832.51;F239.4;F224

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