独立审计为什么没能发挥公司治理功能——基于“盛润股份”连续十五年获得“非标”意见的分析
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财经研究 2009 年 第 35 卷第 07 期, 页码：64 - 76
摘要
参考文献
摘要
文章以"盛润股份"连续十五年获得非标准审计意见为例,分析了"非标"意见未能发挥公司治理功能的制度根源。研究发现,独立审计之所以没能发挥治理功能,是因为审计师出具的"非标"意见未给公司及其内部人带来显著成本,而这又与市场价格机制和公司股权结构上的问题以及有效的监管和法律诉讼机制的缺失有关。本研究有助于深入了解中国证券市场上独立审计在公司治理中的功能及其存在的问题。
[5]参见陈信元、李莫愁、芮萌、夏立军:《司法独立性与投资者保护法律实施》,经济学季刊2009年第2期。
[1]李爽,吴溪.改聘审计师与上市公司治理:1995-2003年间的经验证据[J].审计研究,2006,(3):52-60.
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[3]王跃堂,陈世敏.脱钩改制对审计独立性影响的实证研究[J].审计研究,2001,(3):2-9.
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[11]Choi J-H,TJ Wong.Auditors’governance functions andlegal environments:Aninterna-tional investigation[J].Contemporary Accounting Research,2007,24(1):13-46.
[12]DeFond ML,TJ Wong,S Li.The i mpact of i mproved auditor independence on audit market concentration in China[J].Journal of Accounting and Economics,2000,28:269-305.
[13]Fan J P H,TJ Wong.Do external auditors performa corporate governance role in e-merging markets?Evidence from East Asia[J].Journal of Accounting Research,2005,43(1):.35-72.
[14]Fan J P H,TJ Wong,Tianyu Zhang.Politically connected CEOs,corporate govern-ance,and post-IPOperformance of China’s newly partially privatizedfirms[J].Journal of Financial Economics,2007,84,330-357.
[15]Francis J R,Khurana I K,R Pereira.The role of accounting and auditingin corporate governance and the development of financial markets around the world[J].Asia Pacific Journal of Accounting and Economics,2003,(10):1-30.
[16]Francis J R,Wang D.Thejoint effect of investor protectionand Big4audits onearnings qual-ity around the world[J].Contemporary Accounting Research,2008,25:157-191.
[17]Wang Q,Wong TJ,Xia L.State ownership,theinstitutional environment,and audi-tor choice:Evidence from China[J].Journal of Accounting and Economics,2008,46:112-134.
[18]Watts R L,J L Zi mmerman.Agency problems,auditing,and the theory of the firm:Some evidence[J].Journal of Lawand Economics,1983,26(3):613-633.
[1]李爽,吴溪.改聘审计师与上市公司治理:1995-2003年间的经验证据[J].审计研究,2006,(3):52-60.
[2]刘鸿儒.探索中国资本市场发展之路———理论创新推动制度创新[M].北京:中国金融出版社,2003.
[3]王跃堂,陈世敏.脱钩改制对审计独立性影响的实证研究[J].审计研究,2001,(3):2-9.
[4]吴联生,刘慧龙.中国审计实证研究:1999-2007[J].审计研究,2008,(2):36-46.
[5]夏立军,杨海斌.注册会计师对上市公司盈余管理的反应[J].审计研究,2002,(4):28-34.
[6]朱红军,夏立军,陈信元.转型经济中审计市场的需求特征研究[J].审计研究,2004,(5):53-62.
[7]Beatty R.Auditor reputation and the pricing of initial public offerings[J].The Ac-counting Review,1989,64(4):693-709.
[8]Carcello J,Z Pal mrose.Auditor litigation and modified reporting on bankrupt clients[J].Journal of Accounting Research,1994,32:1-30.
[9]Chen CJ P,S Chen,XSu.Profitability regulation,earnings management,and modified audit opinions:Evidence from China[J].Auditing:A Journal of Practice&Theory,2001,20:9-30.
[10]Choi J H,J B Ki m,X Liu,et al.Audit pricing,legal liability regi mes,and Big4pre-miums:Theory and cross-country evidence[J].Contemporary Accounting Research,2008,25:55-99.
[11]Choi J-H,TJ Wong.Auditors’governance functions andlegal environments:Aninterna-tional investigation[J].Contemporary Accounting Research,2007,24(1):13-46.
[12]DeFond ML,TJ Wong,S Li.The i mpact of i mproved auditor independence on audit market concentration in China[J].Journal of Accounting and Economics,2000,28:269-305.
[13]Fan J P H,TJ Wong.Do external auditors performa corporate governance role in e-merging markets?Evidence from East Asia[J].Journal of Accounting Research,2005,43(1):.35-72.
[14]Fan J P H,TJ Wong,Tianyu Zhang.Politically connected CEOs,corporate govern-ance,and post-IPOperformance of China’s newly partially privatizedfirms[J].Journal of Financial Economics,2007,84,330-357.
[15]Francis J R,Khurana I K,R Pereira.The role of accounting and auditingin corporate governance and the development of financial markets around the world[J].Asia Pacific Journal of Accounting and Economics,2003,(10):1-30.
[16]Francis J R,Wang D.Thejoint effect of investor protectionand Big4audits onearnings qual-ity around the world[J].Contemporary Accounting Research,2008,25:157-191.
[17]Wang Q,Wong TJ,Xia L.State ownership,theinstitutional environment,and audi-tor choice:Evidence from China[J].Journal of Accounting and Economics,2008,46:112-134.
[18]Watts R L,J L Zi mmerman.Agency problems,auditing,and the theory of the firm:Some evidence[J].Journal of Lawand Economics,1983,26(3):613-633.
引用本文
陈信元, 夏立军, 林志伟. 独立审计为什么没能发挥公司治理功能——基于“盛润股份”连续十五年获得“非标”意见的分析[J]. 财经研究, 2009, 35(7): 64–76.
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