客户-审计师不匹配关系与企业商誉

以2007—2018年我国A股上市公司为样本,探讨客户-审计师不匹配关系对企业商誉的影响及作用机制。研究发现:客户-审计师向上不匹配关系对并购商誉泡沫具有抑制效应,客户-审计师向下不匹配关系则加剧了企业商誉泡沫。随着内外部治理环境的改善,客户-审计师不匹配关系对企业并购商誉的影响有所削弱。上述结论在使用替代指标、剔除干扰样本、考虑内生性问题后依然成立。此外,进一步研究发现,客户-审计师向上不匹配关系能显著降低企业商誉减值;但客户-审计师向下不匹配关系对商誉减值影响不显著。

Client-auditor Mismatching and Corporate Goodwill

Focusing on Chinese A-stock companies between 2007 and 2018, this paper examines the impact of client-auditor mismatching on corporate goodwill and the underlying mechanisms. The empirical results show that the client-auditor upward mismatches produce a negative effect on corporate goodwill, while the client-auditor downward mismatches improve corporate goodwill. The above effects are weaker for firms with higher accounting conservatism and marketization degree, which supports the importance of internal governance and external monitoring. These results are robust to considering endogeneity issues, tests on alternative measures of key variables, and subsamples. We further find that client-auditor upward mismatches reduce the impairment of corporate goodwill, but client-auditor downward mismatches have no significant effect on goodwill impairment.