摘要
现有研究普遍发现控股股东股权质押对企业会计信息质量产生负面影响,却较少讨论作为会计信息鉴证者的注册会计师的作用。本文以业绩快报与年度报告净利润差异(文中简称为“业绩快报差异”)作为注册会计师视角下的会计信息质量,研究控股股东股权质押与会计信息质量之间的关系,以及注册会计师发挥的作用。研究发现:控股股东股权质押会加大业绩快报差异,说明控股股东股权质押降低了注册会计师视角下的会计信息质量,注册会计师能够识别并在一定程度上纠正这种错报。该结论在经过一系列稳健性测试后仍然不变。机制检验发现,股权质押带来的控制权转移风险和注册会计师的风险应对行为导致了业绩快报差异,具体体现为:(1)当控股股东控制权转移风险更大时,注册会计师更倾向于进行更多的审计调整,业绩快报差异越明显。(2)控股股东股权质押增加了注册会计师的风险应对行为。异质性分析表明,注册会计师声誉(经济)动机更强(弱)时,注册会计师更倾向于进行更多的审计调整,业绩快报差异越明显。进一步研究发现,控股股东股权质押还增加了下一年度的审计费用。本文的研究结论有助于深化对控股股东股权质押以及注册会计师作用的认识。
Existing studies find controlling shareholders’share pledge has a negative impact on accounting information quality,but rarely discuss the role of auditors.Using the difference between preliminary earnings estimate and annual report(referred to as“preliminary earnings estimate difference”)as accounting information quality provided by management,we examine the relationship between controlling shareholders’share pledge and accounting information quality provided by management,as well as the role of auditors.The results show controlling shareholder’s share pledge increase“preliminary earnings estimate difference”,indicating that controlling shareholder’s share pledge will reduce accounting information quality from the perspective of CPA,and CPAs are able to identify and correct such misstatements.Mechanism tests find that control transfer risk and CPAs’risk response behaviors lead to the differences.Cross-sectional analysis shows that when CPAs have stronger(weaker)reputational(economic)motives,the relationship are more pronounced.Further test finds that controlling shareholders’equity pledges elevate audit risk,which in turn increases audit fees in the following year.The findings help to deepen the understanding of controlling shareholders’equity pledges and the role of CPAs.
出处
《会计研究》
CSSCI
北大核心
2024年第7期41-57,共17页
Accounting Research
基金
国家自然科学基金面上项目(71972189)
国家自然科学基金青年项目(71902201)
国家自然科学基金重大项目(71790603)
财政部“会计名家培养工程”项目的资助
关键词
控股股东股权质押
业绩快报
业绩快报差异
会计信息质量
Controlling Shareholders’Share Pledging
Preliminary Earnings Estimate
Preliminary Earnings Estimate Difference
Accounting Information Quality
