审计委员会中女性任职对公司盈余质量的影响

发布时间：2018-02-14 17:01

本文关键词： 审计委员会女性董事女性任职盈余质量　出处：《河北经贸大学》2017年硕士论文　论文类型：学位论文

【摘要】：审计委员会在财务报告流程中起着监督作用,以缓解代理冲突、维护股东利益。但上市公司财务重述和注册会计师因出具非标准审计意见被更换现象不减反增的现实情况表明,审计委员会的治理效率还有待提高。增强治理有效性的前提是对治理效果的影响因素进行研究,已有研究成果从审计委员会特征(如专业性和独立性等)、公司治理环境等方面进行了考察,对审计委员会成员的个人特质关注较少。随着女性在公司治理实践中参与度的提高和女性董事任职比例的提升,国外学者已针对女性董事对财务报告、盈余管理和外部审计质量等会计审计行为的影响展开了研究。部分国内学者的研究也表明,女性董事对公司会计稳健性、盈余质量有显著影响,并能对中小投资者利益起到保护作用。为提高审计委员会治理效率和女性在公司治理中的参与度,本文将女性董事与盈余质量关系的研究进一步细化,探究审计委员会中女性任职对公司盈余质量的影响,以及不同的公司治理环境下,审计委员会中女性任职对盈余质量的治理作用。本文以2011-2015年沪深两市全部A股上市公司作为研究对象,在剔除ST、*ST和金融类企业以及数据不全的公司后,最终得到2009个样本,5467个观测值,以扩展的Jones模型作为盈余质量的替代变量,首先构建多元回归方程、检验审计委员会中有女性任职、有两名以上女性任职,以及主任委员由女性担任对盈余质量的影响;然后对所属行业、资产规模和产权性质相近的样本公司,以审计委员会主任委员性别为分组依据,对两组的均值进行独立样本T检验,进一步研究审计委员会主任委员由女性任职与盈余质量的关系;再次,以是否不存在董事长和总经理两职兼任且董事会中独立董事比例达到1/3的监管要求为标准,将全样本划分为治理环境好与差两组,研究不同治理环境下审计委员会中女性任职的治理作用;最后,在修正的Jones模型中加入ROA,重新计算操纵性应计利润,作为盈余质量的替代变量,对研究假设进行稳健性检验。通过研究,得出如下结论:(1)审计委员会中有女性任职、有两名以上女性任职,以及主任委员由女性担任均有利于提高公司的盈余质量。说明审计委员会中女性任职,能够使管理层的盈余操纵行为得到更好的抑制,从而提高公司的盈余质量,减少证券市场的信息不对称,对保护公众投资者利益起到积极作用。(2)在不存在董事长和总经理两职兼任且独立董事任职比例达到监管要求的治理环境下,审计委员会中有两名以上女性任职、审计委员会主任委员由女性担任对盈余管理的抑制作用更显著。说明公司治理环境的改善,能使审计委员会中女性任职的治理作用得到更充分的发挥。基于上述结论,本文从审计委员会成员任命和公司治理环境两方面,提出了增强审计委员会治理有效性的建议。
[Abstract]:The audit committee plays a supervisory role in the financial reporting process in order to alleviate the agency conflict and safeguard the interests of shareholders. However, the fact that the financial restatement of listed companies and the change of certified public accountants due to the issuance of non-standard audit opinions shows that, The governance efficiency of the audit committee needs to be improved. The premise of enhancing the governance effectiveness is to study the influencing factors of the governance effect. The existing research results have examined the characteristics of the audit committee (such as professionalism and independence, corporate governance environment, etc.). With the increasing participation of women in corporate governance practice and the increase in the proportion of female directors, foreign scholars have focused on the financial reporting of female directors. The influence of accounting audit behavior such as earnings management and external audit quality has been studied. Some domestic scholars have also shown that female directors have a significant impact on corporate accounting conservatism and earnings quality. In order to improve the efficiency of audit committee governance and the participation of women in corporate governance, the relationship between female directors and earnings quality is further refined. To explore the impact of female representation on earnings quality on audit committees and the different corporate governance environments, The governance effect of female representation on earnings quality in audit committee. This paper takes all A-share listed companies in Shanghai and Shenzhen stock markets from 2011-2015 as the research object, after excluding STT and financial companies, as well as companies with incomplete data. Finally, 2009 samples and 5467 observations were obtained. The extended Jones model was used as a substitute variable for earnings quality. Firstly, the multivariate regression equation was constructed to test that there were two or more women in the audit committee. And the impact of female chairmanship on earnings quality; and then, for the sample companies with similar asset size and property rights in their respective industries, based on the gender of the chairman of the audit committee, An independent sample T test was carried out on the mean values of the two groups to further study the relationship between the female representation of the chairman of the audit committee and the quality of the earnings. On the basis of whether there is no regulatory requirement that both the chairman and the general manager are concurrently appointed and the proportion of independent directors on the board reaches 1/3, the whole sample is divided into two groups: good and bad governance environment, This paper studies the governance role of women in audit committee in different governance environments. Finally, we add load to the modified Jones model and recalculate the accrual profit as a substitute variable of earnings quality. Test the robustness of the research hypotheses. From the study, we draw the following conclusion: 1) there are women in the audit committee, and there are more than two women in the audit committee. The fact that women in the audit committee can better curb earnings manipulation in management and thus improve the earnings quality of the company is beneficial to improving the earnings quality of the company. Reducing information asymmetry in the securities market and playing a positive role in protecting the interests of public investors. (2) in the absence of a governance environment in which both the chairman and the general manager are concurrently appointed and the proportion of independent directors meets the regulatory requirements, There are more than two women on the audit committee, and the inhibition of earnings management by women as the chairman of the audit committee is even more significant, which means that the corporate governance environment is improving. Based on the above conclusions, this paper puts forward some suggestions to enhance the effectiveness of audit committee governance from two aspects: the appointment of audit committee members and the corporate governance environment.
【学位授予单位】：河北经贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51;F239.4

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