我国审计师变更的实证研究

发布时间：2018-05-11 06:06

本文选题：审计师变更 + 市场反应　；参考：《湖南大学》2005年硕士论文

【摘要】：在发达证券市场中,审计师变更研究已有二十多年的历史,并已取得广泛的研究成果。由于我国证券审计市场起步较晚,国内对审计师变更的研究仅从2000年开始,但随着近年来审计师变更事件在证券市场中的频频发生,引起社会各界对此的密切关注,研究其信息含量对投资者和监管部门的决策都具有重要意义。本文的研究也就围绕对审计师变更的关注展开,在总结国内外审计师变更实证研究成果的基础上,分析了审计师变更理论和现状的概况,运用事件研究法验证了1999—2003年100家变更审计师的样本上市公司在审计师变更董事会公告日的市场反应,并运用因子综合分析评价法对130家样本上市公司变更前后的公司业绩变化进行了实证研究。我们发现:我国证券市场总体上对上市公司的审计师变更信息没有作出显著的市场反应,但对自愿性变更的上市公司和变更前被出具非标准审计意见的上市公司,市场对其变更信息在较短的时窗内作出一定的负反应;上市公司变更审计师后的公司业绩总体上是显著下滑的,其中对从“十大”变更到“非十大”审计师、从“十大”变更到“十大”审计师和从“非十大”变更到“非十大”审计师的上市公司,其公司业绩下滑或恶化的比例较高且是呈现显著的下降,但从“非十大”变更到“十大”审计师的上市公司,其公司业绩下降并不显著,业绩得以改善的公司比例也较高。最后,根据实证研究结果,针对审计师变更信息披露的监管和审计师变更的监管提出具有建设性的建议,以提高会计信息质量,保护投资者的利益。
[Abstract]:In the developed securities market, auditor change has been studied for more than 20 years, and has obtained extensive research results. Due to the late start of the securities audit market in our country, the domestic research on auditor change only started in 2000, but with the frequent occurrence of auditor change events in the securities market in recent years, it has aroused the close attention of all circles of the society. It is of great significance to study the information content of investors and regulators. On the basis of summarizing the empirical research results of auditor change at home and abroad, this paper analyzes the theory and current situation of auditor change. Using the event study method, this paper verifies the market reaction of 100 listed companies that changed their auditors during the period 1999-2003 on the date of the announcement of the change of auditor board. An empirical study on the performance of 130 listed companies before and after the change is carried out using factor comprehensive analysis and evaluation method. We find that there is no significant market response to the auditor change information of listed companies in China's securities market in general, but there is no significant market response to voluntary changes and non-standard audit opinions issued before the changes. The market reacted negatively to its change information in a relatively short time window, and the performance of the listed company after the change of auditor was significantly decreased, with the change from "ten" to "non-ten" auditors. Listed companies that change from "10" to "10" auditors and from "non-10" to "non-10" auditors have a high percentage of declining or deteriorating corporate performance and show a significant decline. But the listed companies that change from "non-10" to "10" auditors, their corporate performance decline is not significant, the proportion of companies that can improve their performance is also higher. Finally, according to the results of empirical research, some constructive suggestions are put forward to improve the quality of accounting information and protect the interests of investors.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2005
【分类号】：F239.2

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