资本市场开放、企业社会责任与审计费用

外部审计作为资本市场看门人,对防范化解资本市场开放外生冲击,维护内地金融市场稳定性具有重要作用.本文基于"沪深港通"制度背景,引入瓦莱斯实证式审计理论结构,探讨了资本市场开放对审计费用的影响,以及企业社会责任的调节效应.基于2010-2020年A股上市公司数据分析发现:资本市场开放后审计费用增加显著,投资者的财务信息需...

Opening up of Capital Market,Corporate Social Responsibility and Audit Fee

On the basis of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect systems, this article adopts the empirical audit theory structure put forward by Wallace to explore the impacts of opening up of the capital market on audit fee and the moderating effects of corporate social responsibility. By analyzing the data of A-share listed companies from 2010 to 2020, it finds that after the opening up of the capital market, both the audit fee and the investors’ demand for financial information have increased;while the corporate social responsibility has been negatively correlated to the relations between opening up of capital market and audit fee, and sound performance of social responsibility has been helpful to create value for investors. It further finds that basic corporate social responsibility has more significant moderating effects on the relations between the opening up of the capital market and the audit fee.