投资持股关系中的“共享审计师”效应研究
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摘要
以2007—2015年我国资本市场上具有投资持股关系的上市公司为样本,通过研究持股方和被持股方聘请同一家会计师事务所对持股双方各自审计收费和审计质量的影响,探讨投资持股关系的"共享审计师"中,"信息共享"效应与"低价揽客"效应谁更明显。研究表明,当具有持股关系的两家公司共同聘请同一家会计师事务所后,"信息共享"效应更明显,表现为持股双方的财务报表审计质量和持股方的审计收费显著提升。进一步研究发现:持股双方在不同情况下会选择性价比最高,最有利于自身的方式来获取信息,以谋求"信息共享"效应最大化。
We take public companies owning investment links and undertaking the same accounting firm,which is called"shared auditor"from 2007 to 2015 as example to explore the information sharing effect and low-balling effect in the special phenomenon "shared auditor"in the stock-holding relationship by comparing the audit quality and audit fees in both the investors and investees. We finally find that the information sharing effect is more significant when the two in the investment link share the same accounting firm. We find when two companies share audit,their audit quality and audit fees of investors will grow up obviously. In additional research,we find both the investors and investees will find the most cost-effective and beneficial way to get information and maximize the"information sharing"effect.
We take public companies owning investment links and undertaking the same accounting firm,which is called"shared auditor"from 2007 to 2015 as example to explore the information sharing effect and low-balling effect in the special phenomenon "shared auditor"in the stock-holding relationship by comparing the audit quality and audit fees in both the investors and investees. We finally find that the information sharing effect is more significant when the two in the investment link share the same accounting firm. We find when two companies share audit,their audit quality and audit fees of investors will grow up obviously. In additional research,we find both the investors and investees will find the most cost-effective and beneficial way to get information and maximize the"information sharing"effect.
引文
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[22]王春飞,伍利娜,陆正飞.企业集团统一审计与审计质量[J].会计研究,2010(11):65-71.
[23]伍利娜,王春飞,陆正飞.企业集团统一审计能降低审计收费吗[J].审计研究,2012(1):69-77.
[24]朱宏泉,朱露.异常审计费用、审计质量与IPO定价——基于A股市场的分析[J].审计与经济研究,2018(4):55-65.
[25]许亚湖.租金性异常审计费用影响审计质量吗?[J].审计研究,2018(5):90-96.
[2]杨清香,姚静怡,张晋.与客户共享审计师能降低公司的财务重述吗?——来自中国上市公司的经验证据[J].会计研究,2015(6):71-79.
[3]蔡利,郑倩雯,蔡春.共享审计师能降低分析师预测偏差吗?——来自中国A股上市公司的经验证据[J].审计研究,2018(1):86-93.
[4]Dhaliwal S D,Lamoreuax P T,Litov L P,et al. Shared auditors in mergers and acquisitions[J]. Journal of Accounting and Economics,2016,61(1):49-76.
[5]Cai Y,Kim Y,Park J C,et al. Common auditors in M&A transactions[J]. Social Science Electronic Publishing,2016,61(1):77-99.
[6]姚海鑫,李璐.共享审计可以提高并购绩效吗?——来自中国A股上市公司的经验证据[J].审计与经济研究,2018(3):29-39.
[7]曾姝,李青原.税收激进行为的外溢效应——来自共同审计师的证据[J].会计研究,2016(6):70-76.
[8]Simunic D A. The pricing of audit services:Theory and evidence[J]. Journal of Accounting Research,1980(3):161-190.
[9]De Angelo L E. Auditor independence“low balling”and disclosure regulation[J]. Journal of Accounting and Economics,1981(2):113-127.
[10]O’Keefe T B,Simunic D A,Stein M T. The production of audit services:evidence from a major public accounting firm[J]. Journal of Accounting Research,1994(2):241-261.
[11]Chaney P K,Jeter D C,Shivakumar L. Self-selection of auditors and audit pricing in private firms[J]. The Accounting Review,2004,79(1):51-72.
[12]Huang H W,Raghunandan K,Rama D. Audit fees for initial audit engagements before and after SOX[J]. Auditing:A Journal of Practice&Theory,2009(1):171-190.
[13]韩洪灵,陈汉文.会计师事务所的行业专门化是一种有效的竞争战略吗?——来自中国审计市场的经验证据[J].审计研究,2008(1):53-60.
[14]张梅,韩身智.财务风险、会计师事务所变更与低价揽客[J]:经济问题,2013(7):120-125.
[15]温菊英,张立民.低价揽客影响审计质量吗?——来自沪深A股经验数据研究[J].中国注册会计师,2013(10):75-82.
[16]叶康涛,崔毓佳.初始审计定价折扣与审计质量——基于客户与会计师事务所相对地位的视角[J].会计与经济研究,2017(4):3-16.
[17]Ghosh A,Lustgarten S. Pricing of initial audit engagements by large and small audit firms[J]. Contemporary Accounting Research,2006(2):333-368.
[18]Ghosh A,Pawlewicz R. The impact of regulation on auditor fees:evidence from the Sarbanes-Oxley act[J]. Auditing:A Journal of Practice&Theory,2009(2):171-197.
[19]吕伟,于旭辉.客户依赖、审计师独立性与审计质量——来自上市公司的经验证据[J].财贸研究,2009(3):128-133.
[20]张继勋,张丽霞.客户重要性与审计谈判[J].审计研究,2011(3):56-63.
[21]曹强,胡南薇,王良成.客户重要性、风险性质与审计质量——基于财务重述视角的经验证据[J].审计研究,2012(6):60-70.
[22]王春飞,伍利娜,陆正飞.企业集团统一审计与审计质量[J].会计研究,2010(11):65-71.
[23]伍利娜,王春飞,陆正飞.企业集团统一审计能降低审计收费吗[J].审计研究,2012(1):69-77.
[24]朱宏泉,朱露.异常审计费用、审计质量与IPO定价——基于A股市场的分析[J].审计与经济研究,2018(4):55-65.
[25]许亚湖.租金性异常审计费用影响审计质量吗?[J].审计研究,2018(5):90-96.