客户集中程度、外部审计与现金股利

高客户集中企业基于顾客满意度展开市场竞争,进而影响外部审计质量。基于信号传递理论,选取2016—2020年沪深两市A股上市公司作为样本,探究客户集中度对现金股利的影响以及产生机制。研究发现,客户集中度对现金股利存在负相关影响,客户集中程度对外部审计质量呈现显著正相关影响,外部审计质量对客户集中度影响现金股利的程度具有促进作用。基于研究结论,提出对策建议,以期在企业财务决策时平衡大客户的治理效应和风险效应之间的关系,寻求客户正向效应的最大化。

Customer Concentration, External Audit and Cash Dividends

High customer concentration enterprises compete in the market based on customer satisfaction, which in turn affects the quality of external audit. Based on signaling theory, A-share listed companies from 2016 to 2020 are selected as samples to explore the impact of customer concentration on cash dividends and the mechanism of generating the impact. It is found that: there is a negative correlation effect of customer concentration on cash dividends.The degree of customer concentration presents a significant positive correlation effect of the quality of external auditing, and the degree of external auditing quality on the degree of customer concentration affecting cash dividends has a promotion effect. Suggestions are proposed based on the results , in order to balance the relationship between the governance effect and the risk effect of large customers to maximize the positive customer effect, when making corporate financial decisions.