中国股权分置改革后审计师对盈余管理的回应

IF 2.1 Q2 BUSINESS, FINANCE Pacific Accounting Review Pub Date : 2023-08-10 DOI:10.1108/par-09-2022-0139
Alfred Bu, Masoud Azizkhani, Alicia Jiang
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引用次数: 0

摘要

目的本研究旨在探讨中国股权分置改革(SSSR)后,审计师是否以及如何应对有文献记录的盈余管理的增加,这表现在股权分置改革后审计师倾向于发布修改审计意见(MAOs)。本研究进一步探讨了SSSR后客户重要性和审计师规模如何影响审计师对盈余管理的反应。设计/方法/方法本研究采用logit回归模型来调查审计师向其客户发布MAOs的倾向,这些客户似乎在SSSR之后管理盈余。最初,包括CSMAR数据库中的所有中国上市公司,最终分析的样本包括2001-2020年期间对1,290家独特上市公司的21,904家公司年度观察结果。样本期围绕SSSR的实施,该实施始于2005年,允许审查审计师在SSSR之前发布mao的倾向-à-vis。研究结果作者发现,中国的非十大会计师事务所不太可能向其经济上重要的客户发布mao,这些客户似乎在SSSR之后管理收益。然而,在非流通股上市的这些年里,十大会计师事务所和非十大会计师事务所都不太可能向其在经济上具有重要意义的客户发行mao,这些客户似乎在管理收益。研究结果表明,在SSSR之后,审计师可能由于其经济上重要的客户的压力而损害了审计师的独立性,以应对盈余管理。原创性/价值本文通过揭示不断变化的审计师报告行为,特别是关于审计师独立性的行为,对文献,特别是审计实践和理论做出了贡献。它还增加了越来越多的关于制度变革对全球审计实践影响的文献。本研究的结果进一步表明,最近记录的高质量审计需求的下降可能是由于客户在SSSR之后管理盈余的意图。
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Auditors’ response to earnings management after split-share structure reform in China
Purpose This study aims to investigate whether and how auditors responded to the documented increases in earnings management after split-share structure reform (SSSR) in China, as manifested in auditors’ propensity to issue modified audit opinions (MAOs) after the SSSR. This study further investigates how client importance and auditor size influence auditors’ response to earnings management after the SSSR. Design/methodology/approach This study adopts logit regression models to investigate auditors’ propensity to issue MAOs to their clients that appear to manage earnings after the SSSR. Initially, including all Chinese publicly listed firms from the CSMAR database, the sample for final analyses consists of 21,904 firm-year observations for 1,290 unique listed firms during the period 2001–2020. The sample period surrounds the implementation of the SSSR, which started in 2005, allowing the examination of auditors’ propensity to issue MAOs after vis-à-vis before the SSSR. Findings The authors find that non-Big10 auditors in China were less likely to issue MAOs to their economically important clients who appear to manage earnings after SSSR. However, in the years of non-tradeable shares being released to the markets, both Big10 and non-Big10 auditors were less likely to issue MAOs to their economically important clients who appear to manage earnings. The findings suggest that auditors may have compromised auditor independence in response to earnings management after the SSSR, likely due to the pressure from their economically important clients. Originality/value This paper contributes to the literature, specifically the practice and theory in auditing, by shedding light on ever-changing auditors’ reporting behaviour, especially with regard to auditor independence. It also adds to the growing body of literature on the impact of institutional changes on auditing practices worldwide. The findings of this study further suggest that the recently documented declining demand for high-quality audits after the SSSR may be motivated by the clients’ intention to manage earnings after the SSSR.
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来源期刊
Pacific Accounting Review
Pacific Accounting Review BUSINESS, FINANCE-
CiteScore
3.80
自引率
9.50%
发文量
36
期刊介绍: Pacific Accounting Review is a quarterly journal publishing original research papers and book reviews. The journal is supported by all New Zealand Universities and has the backing of academics from many universities in the Pacific region. The journal publishes papers from both empirical and theoretical forms of research into current developments in accounting and finance and provides insight into how present practice is shaped and formed. Specific areas include but are not limited to: - Emerging Markets and Economies - Political/Social contexts - Financial Reporting - Auditing and Governance - Management Accounting.
期刊最新文献
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