新冠肺炎危机后的股权结构和审计质量评估:来自约旦的经验证据

E. Alharasis
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引用次数: 3

摘要

本研究旨在收集新的经验证据,以确定不同形式的所有权结构如何应对最近的COVID-19危机。鉴于这一悲剧,本文探讨了所有权结构形式(即大股东、外资、机构和家族所有权)与审计质量(以审计费用为代理)之间的关系。设计/方法/方法总共对2005年至2020年期间的约旦企业进行了3200个企业年度观察,并使用具有企业聚类标准误差的普通最小二乘回归来评估假设。回归结果显示,COVID-19强化了各种所有制形式(即大股东、外资、机构所有制形式)与审计质量之间的关联。这一结果反映出,在大流行期间,这些所有者需要高质量的审计服务,以改进其业务决策并减少机构冲突问题。然而,分析没有发现COVID-19对家庭所有权的任何影响。家族企业可能在危机情况下反应更快,相应地,他们不承担高昂的审计成本。对2005年至2022年的扩展分析得出了同样的结果。实际意义研究结果有助于当局控制和管理审计业务。这些发现对决策者、立法者、监管者和审计行业在不确定的经济环境中评估日益严重的问题具有重要影响。提供的证据可用于安抚投资者和帮助当局制定适当的补救措施,以应对大流行病引发的经济危机。调查结果可能有助于改善管理约旦审计行业的立法。此外,研究结果也可推广到其他中东国家。原创性/价值据作者所知,这是第一个实证评估不同类型的所有权如何影响审计质量的研究,以应对全球健康灾难带来的审计师工作条件的巨大变化。在约旦等新兴经济体,这种分析可以对COVID-19疫情期间的所有权状况进行初步假设。它通过阐明不同类型的所有权如何影响对不良事件的反应,增加了审计知识体系。该评估旨在作为会计领域关于冠状病毒对各公司投资组合影响的最终证词。
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Evaluation of ownership structure and audit-quality in the wake of the Covid-19 crisis: empirical evidence from Jordan
Purpose This study aims to collect new empirical evidence to determine how different forms of ownership structure responded to the recent COVID-19 crisis. In light of this tragedy, it explores the relationship between ownership structure forms (i.e. block-holders, foreign, institutional and family ownerships) and audit quality (proxied by audit fees). Design/methodology/approach In total, 3,200 firm-year observations for Jordanian enterprises covering the years 2005 through 2020 are used in an ordinary least squares regression with firm-clustered standard error to assess the hypotheses. Findings The regression results showed that COVID-19 strengthens the association between each type of ownership (i.e. block-holders, foreign, institutional ownership forms) and audit quality. This result reflects the need for high-quality audit services during the pandemic by such owners to improve their business decisions and limit agency-conflict issues. However, the analysis failed to find any effect of COVID-19 when it comes to family ownership. Family-controlled firms may react faster in crisis situations, and correspondingly, they do not bear high audit costs. The extended analysis covering the years 2005–2022 came to the same results. Practical implications The results aid authorities in their control and management of the auditing business. The findings have important consequences for policymakers, lawmakers, regulators and the audit profession as they assess the growing issues in an uncertain economic environment. Evidence is provided that may be used to reassure investors and aid authorities as they devise appropriate remedies to the pandemic-triggered economic crisis. The findings may aid in the improvement of legislation that governs Jordan’s auditing industry. Furthermore, the results can be generalized to other Middle Eastern countries. Originality/value To the best of the authors’ knowledge, this is the first study to empirically evaluate how different types of ownership affect audit quality in response to a dramatic shift in auditors’ working conditions brought on by the global health calamity. In emerging economies like Jordan, this type of analysis allows for preliminary assumptions to be established about ownership status during the COVID-19 outbreak. It adds to the body of auditing knowledge by shedding light on how various kinds of ownership affect responses to adverse events. This assessment is intended to serve as the definitive testimony in the field of accounting regarding the effects of the coronavirus across various corporations’ portfolios.
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来源期刊
CiteScore
3.90
自引率
6.70%
发文量
13
期刊介绍: The International Journal of Law and Management is a leading journal addressing all aspects of regulation and law as they impact on organisational development, operations and leadership. Organisations and their leaders operate in an increasingly complex world of emerging regulation across national and international boundaries. The International Journal of Law and Management seeks to acknowledge the dynamics of that environment and provide a platform for articles and contributions to stimulate scholarly debate in the development of law and practice. The International Journal of Law and Management seeks to present the latest research on policy, practice and theoretical perspectives and their impact on the development and leadership of organisations. Contributions of a multi-disciplinary nature are welcome. Coverage includes, but is not limited to: -Employment and industrial law- Corporate governance and social responsibility- Intellectual property- Corporate law and finance- Insolvency- Commercial law and consumer protection- Environmental law- Taxation- Competition law- Regulatory theory
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