审计师质量、政府管制与基金会捐赠收入——基于“郭美美”事件的研究
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摘要
文章利用2005-2015年我国净资产排名前100位的基金会及其审计师数据,以是否为当年中注协综合排名"百强"所作为审计师质量的替代变量,考察了审计师质量对基金会捐赠收入的影响。结果发现:(1)总体而言,审计师质量对基金会下年度的捐赠收入具有显著的促进作用;(2)审计师质量对捐赠收入的促进作用仅存在于"郭美美事件"后,这表明"郭美美"事件发生后我国出台的一系列管制措施有助于增强审计的作用;(3)对个人捐赠收入而言,在事件前后,审计师质量均无显著影响;而对机构捐赠收入而言,在事件后审计师质量的促进作用更为明显。
Using the data of the top 100 Chinese charity funds from 2005 to 2015,this paper explores the effect of external auditor quality(proxied by whether the accounting firm belongs to the top 100 Chinese auditing firms)on the donation revenue of charity funds.The results show that:1)in general,the auditor quality has a significant positive impact on the donation revenue of the charity fund;2)the significant relationship between auditor quality and donations exists only after the event of Meimei Guo,suggesting that government regulations implemented after the event could have enhanced the role of auditing;3)compared to individual donators,institutional donators pay more attention to the auditor quality of charities.
Using the data of the top 100 Chinese charity funds from 2005 to 2015,this paper explores the effect of external auditor quality(proxied by whether the accounting firm belongs to the top 100 Chinese auditing firms)on the donation revenue of charity funds.The results show that:1)in general,the auditor quality has a significant positive impact on the donation revenue of the charity fund;2)the significant relationship between auditor quality and donations exists only after the event of Meimei Guo,suggesting that government regulations implemented after the event could have enhanced the role of auditing;3)compared to individual donators,institutional donators pay more attention to the auditor quality of charities.
引文
[1]De Angelo,L.E.,1981,“Auditor Size and Audit Quality,”Journal of Accounting and Economics,3(3):183-199.
[2]Fama,E.F.,and M.C.Jensen,1983,“Separation of Ownership and Control,”Journal of Law and Economics,26(2):301-325.
[3]Harris,E.,C.M.Petrovits,and M.H.Yetman,2015,“The Effect of Nonprofit Governance on Donations:Evidence from the Revised Form 990,”The Accounting Review,90(2):579-610.
[4]Jensen,M.C.,and W.H.Meckling,1976,“Theory of the Firm:Managerial Behavior Agency Costs,And Ownership Structure,”Journal of Financial Economics,3(4):305-360.
[5]Khumawala,S.B.,and T.P.Gordon,1997,“Bridging the Credibility of GAAP:Individual Donors and the New Accounting Standards for Nonprofit Organizations,”Accounting Horizons,11(3):45-68.
[6]Kitching,K.,2009,“Audit Value and Charitable Organizations,”Journal of Accounting and Public Policy,28(6):510-524.
[7]Krishnan,R.,M.H.Yetman,and R.J.Yetman,2006,“Expense Misreporting in Nonprofit Organizations,”The Accounting Review,81(2):399-420.
[8]Li,W.,E.McDowell,and M.Hu,2012,“Effects of Financial Efficiency and Choice to Restrict Contributions on Individual Donations,”Accounting Horizons,26(1):111-123.
[9]Parsons,L.M.,2007,“The Impact of Financial Information and Voluntary Disclosures on Contributions to Not-ForProfit Organizations,”Behavioral Research in Accounting,19(1):179-196.
[10]Pittman,J.A.,and S.Fortin,2004,“Auditor Choice and the Cost of Debt Capital for Newly Public Firms,”Journal of Accounting and Economics,37(1):113-136.
[11]Saxton,G.D.,D.Neely,and C.Guo,2014,“Web Disclosure and the Market for Charitable Contributions,”Journal of Accounting and Public Policy,33(2):127-144.
[12]Tate,S.L.,2007,“Auditor Change and Auditor Choice in Nonprofit Organizations,”Auditing:A Journal of Practice&Theory,26(1):47-70.
[13]Trussel,J.M.,and L.M.Parsons,2008,“Financial Reporting Factors Affecting Donations to Charitable Organizations,”Advances in Accounting,23:263-285.
[14]Vermeer,T.E.,K.Raghunandan,and D.A.Forgione,2009,“Audit Fees at U.S.Non-Profit Organizations,”Auditing:A Journal of Practice&Theory,28(2):289-303.
[15]Yetman,M.H.,and R.J.Yetman,2012,“The Effects of Governance on the Accuracy of Charitable Expenses Reported by Nonprofit Organizations,”Contemporary Accounting Research,29(3):738-767.
[16]Yetman,M.H.,and R.J.Yetman,2013,“Do Donors Discount Low-Quality Accounting Information?”The Accounting Review,88(3):1041-1067.
[17]陈丽红、张龙平、杜建军、全红蕾,2014,“慈善基金会特征、审计师选择与捐赠决策”,《审计研究》,第5期,第68-76页。
[18]陈丽红、张龙平、李青原、杜建军,2015,“会计信息会影响捐赠者的决策吗?”,《会计研究》,第2期,第28-35页。
[19]刘亚莉、王新、魏倩,2013,“慈善基金会财务信息披露质量的影响因素与后果研究”,《会计研究》,第1期,第76-96页。
[20]谢晓霞,2014,“慈善组织财务信息披露对捐赠的影响”,《财贸研究》,第2期,第150-156页。
[21]游春晖、厉国威,2015,“慈善组织财务信息透明度、筹资类型与筹资效果”,《财经论丛》,第5期,第58-66页。
[22]余冬根、张嘉兴,2017,“审计师声誉影响企业债务融资成本和融资能力吗?”,《中国经济问题》,第1期,第111-120页。
[23]张立民、曹丽梅、李晗,2012,“审计在基金会治理中能够有效发挥作用吗?”,《南开管理评论》,第2期,第92-100页。
[24]张祖平,2015,“慈善组织公信力的生成、受损和重建机制研究”,《上海财经大学学报》,第4期,第21-29页。
(1)这既可能与总体经济发展有关,也可能与相关监管措施使得机构捐赠者的信心得以恢复有关。
[2]Fama,E.F.,and M.C.Jensen,1983,“Separation of Ownership and Control,”Journal of Law and Economics,26(2):301-325.
[3]Harris,E.,C.M.Petrovits,and M.H.Yetman,2015,“The Effect of Nonprofit Governance on Donations:Evidence from the Revised Form 990,”The Accounting Review,90(2):579-610.
[4]Jensen,M.C.,and W.H.Meckling,1976,“Theory of the Firm:Managerial Behavior Agency Costs,And Ownership Structure,”Journal of Financial Economics,3(4):305-360.
[5]Khumawala,S.B.,and T.P.Gordon,1997,“Bridging the Credibility of GAAP:Individual Donors and the New Accounting Standards for Nonprofit Organizations,”Accounting Horizons,11(3):45-68.
[6]Kitching,K.,2009,“Audit Value and Charitable Organizations,”Journal of Accounting and Public Policy,28(6):510-524.
[7]Krishnan,R.,M.H.Yetman,and R.J.Yetman,2006,“Expense Misreporting in Nonprofit Organizations,”The Accounting Review,81(2):399-420.
[8]Li,W.,E.McDowell,and M.Hu,2012,“Effects of Financial Efficiency and Choice to Restrict Contributions on Individual Donations,”Accounting Horizons,26(1):111-123.
[9]Parsons,L.M.,2007,“The Impact of Financial Information and Voluntary Disclosures on Contributions to Not-ForProfit Organizations,”Behavioral Research in Accounting,19(1):179-196.
[10]Pittman,J.A.,and S.Fortin,2004,“Auditor Choice and the Cost of Debt Capital for Newly Public Firms,”Journal of Accounting and Economics,37(1):113-136.
[11]Saxton,G.D.,D.Neely,and C.Guo,2014,“Web Disclosure and the Market for Charitable Contributions,”Journal of Accounting and Public Policy,33(2):127-144.
[12]Tate,S.L.,2007,“Auditor Change and Auditor Choice in Nonprofit Organizations,”Auditing:A Journal of Practice&Theory,26(1):47-70.
[13]Trussel,J.M.,and L.M.Parsons,2008,“Financial Reporting Factors Affecting Donations to Charitable Organizations,”Advances in Accounting,23:263-285.
[14]Vermeer,T.E.,K.Raghunandan,and D.A.Forgione,2009,“Audit Fees at U.S.Non-Profit Organizations,”Auditing:A Journal of Practice&Theory,28(2):289-303.
[15]Yetman,M.H.,and R.J.Yetman,2012,“The Effects of Governance on the Accuracy of Charitable Expenses Reported by Nonprofit Organizations,”Contemporary Accounting Research,29(3):738-767.
[16]Yetman,M.H.,and R.J.Yetman,2013,“Do Donors Discount Low-Quality Accounting Information?”The Accounting Review,88(3):1041-1067.
[17]陈丽红、张龙平、杜建军、全红蕾,2014,“慈善基金会特征、审计师选择与捐赠决策”,《审计研究》,第5期,第68-76页。
[18]陈丽红、张龙平、李青原、杜建军,2015,“会计信息会影响捐赠者的决策吗?”,《会计研究》,第2期,第28-35页。
[19]刘亚莉、王新、魏倩,2013,“慈善基金会财务信息披露质量的影响因素与后果研究”,《会计研究》,第1期,第76-96页。
[20]谢晓霞,2014,“慈善组织财务信息披露对捐赠的影响”,《财贸研究》,第2期,第150-156页。
[21]游春晖、厉国威,2015,“慈善组织财务信息透明度、筹资类型与筹资效果”,《财经论丛》,第5期,第58-66页。
[22]余冬根、张嘉兴,2017,“审计师声誉影响企业债务融资成本和融资能力吗?”,《中国经济问题》,第1期,第111-120页。
[23]张立民、曹丽梅、李晗,2012,“审计在基金会治理中能够有效发挥作用吗?”,《南开管理评论》,第2期,第92-100页。
[24]张祖平,2015,“慈善组织公信力的生成、受损和重建机制研究”,《上海财经大学学报》,第4期,第21-29页。
(1)这既可能与总体经济发展有关,也可能与相关监管措施使得机构捐赠者的信心得以恢复有关。