审计师质量与股价崩盘风险
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摘要
以2001-2017年沪深A股上市公司为研究对象,实证检验了审计师质量对股价崩盘风险的影响。实证结果表明,在控制其他因素的影响下,企业聘请的审计师质量越高,发生股价崩盘风险的概率越低。将审计师质量对股价崩盘风险影响的时间窗口延长至未来2年时,实证结果依然成立。
Using a sample of A-share listed firms in Shanghai and Shenzhen from 2001 to 2017,This paper investigated the impact of the auditor quality on crash risk. The results showed that there exist a positive correlation between auditor quality and crash risk when other related factors have been controlled. The findings are robust if extends the time window to the next 2 years.
Using a sample of A-share listed firms in Shanghai and Shenzhen from 2001 to 2017,This paper investigated the impact of the auditor quality on crash risk. The results showed that there exist a positive correlation between auditor quality and crash risk when other related factors have been controlled. The findings are robust if extends the time window to the next 2 years.
引文
[1]叶康涛,曹丰,王化成.内部控制信息披露能够降低股价崩盘风险吗?[J].金融研究.2015(02).
[2]Kim J,Zhang L.Accounting Conservatism and Stock Price Crash Risk:Firm-level Evidence[J].Contemporary Accounting Research.2016,33(1).
[3]Kim J,Li Y,Zhang L.CFOs versus CEOs:Equity incentives and crashes[J].Journal of Financial Economics.2011,101(3).
[4]Xu N,Li X,Yuan Q,et al.Excess perks and stock price crash risk:Evidence from China[J].Journal of Corporate Finance.2014,25.
[5]王化成,曹丰,叶康涛.监督还是掏空:大股东持股比例与股价崩盘风险[J].管理世界,2015(02).
[6]姜付秀,蔡欣妮,朱冰.多个大股东与股价崩盘风险[J].会计研究,2018(01).
[7]马笑芳,周中胜,张苏斌,等.审计行业专长与股价崩盘风险的关系分析[J].苏州大学学报(哲学社会科学版).2018(02).
[8]Kanagaretnam K,Lim C Y,Lobo G J.Auditor reputation and earnings management:International evidence from the banking industry[J].Journal of Banking&Finance.2010,34(10).
[9]Kim J,Li Y,Zhang L.Corporate tax avoidance and stock price crash risk:Firm-level analysis[J].Journal of Financial E-conomics.2011,100(3).
[10]李明辉,杨鑫.审计师质量对上市公司融资方式选择的影响---来自中国资本市场的经验证据[J].会计研究,2014(11).
[2]Kim J,Zhang L.Accounting Conservatism and Stock Price Crash Risk:Firm-level Evidence[J].Contemporary Accounting Research.2016,33(1).
[3]Kim J,Li Y,Zhang L.CFOs versus CEOs:Equity incentives and crashes[J].Journal of Financial Economics.2011,101(3).
[4]Xu N,Li X,Yuan Q,et al.Excess perks and stock price crash risk:Evidence from China[J].Journal of Corporate Finance.2014,25.
[5]王化成,曹丰,叶康涛.监督还是掏空:大股东持股比例与股价崩盘风险[J].管理世界,2015(02).
[6]姜付秀,蔡欣妮,朱冰.多个大股东与股价崩盘风险[J].会计研究,2018(01).
[7]马笑芳,周中胜,张苏斌,等.审计行业专长与股价崩盘风险的关系分析[J].苏州大学学报(哲学社会科学版).2018(02).
[8]Kanagaretnam K,Lim C Y,Lobo G J.Auditor reputation and earnings management:International evidence from the banking industry[J].Journal of Banking&Finance.2010,34(10).
[9]Kim J,Li Y,Zhang L.Corporate tax avoidance and stock price crash risk:Firm-level analysis[J].Journal of Financial E-conomics.2011,100(3).
[10]李明辉,杨鑫.审计师质量对上市公司融资方式选择的影响---来自中国资本市场的经验证据[J].会计研究,2014(11).