文献类型：期刊文献

中文题名：关键审计事项披露与企业创新质量——基于信息不对称下的融资约束视角

英文题名：Critical Audit Matters Disclosure and Innovation Quality:A Perspective of Financing Constraints under Information Asymmetry

作者：石青梅[1];孙梦娜[2];谢香兵[1]

第一作者：石青梅

机构：[1]河南财经政法大学会计学院,河南郑州450046;[2]中南财经政法大学会计学院,湖北武汉430073

第一机构：河南财经政法大学会计学院

年份：2022

卷号：36

期号：4

起止页码：19-40

中文期刊名：会计与经济研究

外文期刊名：Accounting and Economics Research

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2020】；CSSCI:【CSSCI2021_2022】；

基金：国家社会科学基金重点项目(19AGL011);教育部人文社会科学研究青年基金项目(18YJC790136);河南省高校哲学社会科学创新团队项目(2015-CXTD-09);中南财经政法大学研究生科研创新平台项目(202211110)。

语种：中文

中文关键词：关键审计事项;创新质量;信息不对称;融资约束;内部控制

外文关键词：critical audit matters;innovation quality;information asymmetry;financing constraints;internal control

摘要：2016年,中国新审计准则要求在审计报告中增加关键审计事项段,以进一步提高审计报告的信息含量,缓解资本市场信息不对称。基于此政策变更提供的准自然实验,利用2015-2018年沪深两市A股上市企业数据,构建双重差分模型检验关键审计事项披露对企业创新质量的影响及其经济后果。研究发现,关键审计事项披露显著提升了企业创新质量;具体作用机制为“关键审计事项披露-缓解信息不对称-降低企业融资约束-提高创新质量”。异质性检验发现,在非国有、审计师行业专长较高、内部控制质量较低的企业中,关键审计事项披露提高企业创新质量的政策效应更为显著。经济后果检验发现,较高的创新质量有利于提高企业价值。研究不仅基于降低融资约束视角为新审计准则提高企业创新质量提供了经验证据,也为新审计准则的实施和进一步完善提供了政策参考。
In 2016, Chinese auditing standards mandate the disclosure of critical audit matters in audit reports to improve the information content and alleviate the information asymmetry in the capital market. Based on the quasi-experiment setting provided by the policy change, this paper uses the data of A-share listed companies in Shanghai and Shenzhen stock exchanges from 2015 to 2018, and constructs a Difference-in-Differences model to investigate the impact and economic consequences of critical audit matters disclosure on the innovation quality. The research shows that the disclosure of critical audit matters can significantly promote the innovation quality, and the specific mechanism is critical audit matters disclosure-alleviating information asymmetry-reducing corporate financial restraint-improving innovation quality. The heterogeneity test indicates that the positive relationship between critical audit matters disclosure and innovation quality is more significant in non-state-controlled companies, and companies with higher auditors’ industry expertise and low level of internal control quality. The test of economic consequences shows that higher innovation quality is conducive to improving firm value. The paper not only provides empirical evidences for the new audit reports to improve the innovation quality based on the perspective of easing financing constraints, but also provides policy references for the implementation and further improvement of the new audit standards.