媒体负面报道与审计契约稳定性——基于事务所组织形式变更视角的分析

发布时间：2018-08-20 13:51

【摘要】：作为公司外部治理机制之一,通过对信息的收集、处理和扩散,媒体在降低信息不对称的同时,影响着各类信息使用者对上市公司的风险感知。作为资本市场信息鉴证服务的提供者,审计师对企业风险的判断受到媒体负面报道的影响。基于事务所转制视角,本文以2009-2015年沪深A股上市公司为样本,实证分析媒体负面报道对审计契约稳定性的影响。研究发现,负面报道次数与审计师变更之间显著正相关;与转制前相比,转制后的负面报道对审计师变更的影响更加显著;按照地区法制环境和公司内部控制建设水平分组后,这些关系仅存在于在地区法制环境建设水平较高、公司内部控制质量较差的样本中。上述结论意味着我国基于市场竞争的声誉机制虽然尚不成熟,但审计师法律责任的强化是媒体发挥治理作用的重要路径,媒体扮演好监督角色对资本市场的健康发展具有重要意义。
[Abstract]:As one of the external corporate governance mechanisms, through the collection, processing and diffusion of information, the media not only reduces the asymmetry of information, but also affects the risk perception of all kinds of information users to listed companies. As a provider of capital market information authentication service, auditors' judgment of enterprise risk is influenced by negative media reports. Based on the perspective of firm transformation, this paper takes Shanghai and Shenzhen A-share listed companies as samples from 2009-2015, and empirically analyzes the impact of negative media reports on the stability of audit contracts. The study found that the number of negative reports was significantly positively correlated with the change of auditors; the negative reports after the conversion had more significant impact on the change of auditors than before; after grouping according to the regional legal environment and the level of internal control construction of the company, These relationships only exist in the samples with high level of legal environment construction and poor internal control quality. The above conclusion means that the reputation mechanism based on market competition in China is not mature, but the strengthening of auditor's legal responsibility is an important way for the media to play its role in governance. It is of great significance for the healthy development of the capital market for the media to play a good supervisory role.
【作者单位】：天津财经大学商学院;
【基金】：国家自然科学基金面上项目,项目编号:71272189 教育部人文社会科学研究青年基金项目,项目编号:14YJC630048 国家自然科学青年基金项目,项目编号:71502122
【分类号】：F239.4;G206

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