上市公司审计、财务困境与会计师事务所更迭——基于2000-2003年上市公司数据的实证研究

上市公司会计师事务所的更换越来越引起市场、投资者以及研究者的关注。本文主要基于国外的相关研究和中国股市及上市公司的特征，提出八个研究假设，然后构建Logistic回归模型，依据2000-2003年上市公司年报数据进行假设检验，主要考察非标准审计意见、审计者规模、财务困境和审计迟滞与会计师事务所更迭之间的关系。综合Logistic回归分析结果，基本上可以认为，在同等条件下，上年度及本年度被出具非标准审计意见、由规模小的会计师事务所审计、每股经营现金流为负(处于财务困境中)、上年度和本年度审计迟滞时间长的上市公司更有可能更换会计师事务所。同时，被ST以及公司规模小的上市公司更有可能更换会计师事务所。

Auditing, Financial Distress and Auditor Switching of Listed Companies: An Empirical Research Based on Data from 2000 to 2003

The markets, investors and researchers have paid more and more attention to auditor switching.In this paper we develop eight hypotheses,based on overseas relevant researches and characteristics of Chinese stock market and listed companies, and do hypotheses tests with Logistic regression models to examine the relationship between modified audit opinions, auditor size, financial distress, audit delay and auditor switching on the base of Chinese listed companies data from 2000 to 2003.To sum up Logistic regression results,we can conclude that ceteris paribus, the frequency of auditor switching is positively associated with receiving modified audit opinions in this year and last year, annual reports disclosure delay of this year and last year and ST institution, and negatively associated with operating cash flow per share, auditor size and firm size.