政治关联、审计师选择与公司价值

发布时间：2018-11-28 13:37

【摘要】：政治和经济制度对一个国家的企业所有权、公司治理和会计信息质量等有重要影响;外部审计在公司法治环境较差时可以替代内部治理机制提升公司价值。本文用2003～2005年中国A股上市公司的数据,对政治关联、审计师选择及公司价值之间关系进行研究,考察外部审计师的公司治理效应及传导机制。结果表明,外部审计可以部分替代法治水平的不足发挥外部公司治理功能,但要受制度背景尤其是政治关联的影响;政治关联对公司价值的影响受所在地区法治化程度的影响,法治化程度越低,政治关联对公司价值的影响越大;同时,政治关联对公司价值的影响还需要以外部审计质量的优劣为传导机制与实现途径。
[Abstract]:The political and economic systems have an important influence on the ownership, corporate governance and the quality of accounting information of a country, and external audit can replace the internal governance mechanism to enhance the value of the company when the legal environment of the company is poor. Based on the data of A-share listed companies in China from 2003 to 2005, this paper studies the relationship among political relevance, auditor selection and corporate value, and examines the corporate governance effect and transmission mechanism of external auditors. The results show that the external audit can partly replace the deficiency of the rule of law to play the role of external corporate governance, but it is influenced by the institutional background, especially the political connection. The influence of political association on corporate value is affected by the degree of legalization in the region, the lower the degree of legalization, the greater the influence of political association on corporate value. At the same time, the influence of political connection on company value should be conducted by the quality of external audit.
【作者单位】：对外经济贸易大学商学院;中央民族大学管理学院;
【基金】：国家社会科学基金项目(07BJY029) 教育部“全国优秀博士学位论文作者专项资金项目”(200566) “新世纪优秀人才支持计划”(NCET-06-0144)资助
【分类号】：F276.6;F239.4

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