A Study on the Relationship between External Guarantees of L

  本文关键词：公司业绩、资本结构与对外信用担保，由笔耕文化传播整理发布。

《Auditing Research》 2014-01

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A Study on the Relationship between External Guarantees of Listed Firms and Going-concern Opinions——Evidence from A-share stock market in China

Zhang Junrui;Liu Bin;  

Based on Chinese A-share listed companies of Shanghai and Shenzhen main board stock market from2007 to 2011,this paper studies the relationship between external guarantee behaviors of listed companies and going-concern opinions issued by auditors using Logit regression analysis method.Our study has several findings as follows:as an important way for firms to acquire loans from banks,guarantees widely exist among Chinese listed companies;therefore,it is unlikely for auditors to issue going-concern opinions only because companies provide guarantees.However,when auditors take the sizes,objects and risks of guarantees into consideration,they will change the auditor opinions correspondingly:auditors are concerned about the guarantee size,and are more likely to issue a going-concem opinion for the enterprise whose guarantee size is larger.Besides,relative to the guarantees provided for subsidiary,auditors pay more attention to the guarantees that listed firms provide for non-subsidiary.In addition,auditors are cautious about the firms with high risky guarantees,and are more likely to issue a going-concern opinion to them.

【Key Words】：
【Fund】： 国家自然科学基金项目(编号:71172186);; 教育部新世纪人才支持计划项目(NCET-07-0309);; 西安交通大学“中央高校基本科研业务费”(人文社科类 Sk2010036)的阶段性成果
【CateGory Index】： F832.51;F239.43

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  本文关键词：公司业绩、资本结构与对外信用担保，由笔耕文化传播整理发布。