| 会计师事务所组织形式、盈余管理与IPO折价 |
| |
| 引用本文： | 傅绍正,毕晓方,张俊民. 会计师事务所组织形式、盈余管理与IPO折价[J]. 财经理论与实践, 2016, 0(2): 45-51. DOI: 10.3969/j.issn.1003-7217.2016.02.008 |
| |
| 作者姓名： | 傅绍正 毕晓方 张俊民 |
| |
| 作者单位： | 天津财经大学 商学院,天津,300222 |
| |
| 基金项目： | 国家自然科学基金面上项目(71272189)，中国审计学会项目(14SJ04001)，教育部人文社会科学研究项目(12YJA790193)，天津市财政局重点会计科研项目(KJKYXM151001)，天津财经大学研究生创新基金项目(2013TCB002) |
| |
| 摘 要： | 会计师事务所组织形式由有限责任制变为特殊普通合伙制,增加了审计师的法律责任,提高了审计的鉴证价值和保险价值,有利于审计师在 IPO 审计过程中更好地发挥信息中介作用。以保荐制下 IPO公司为样本,实证考察事务所组织形式对 IPO 盈余管理和 IPO 折价的影响。研究发现,相比有限责任制事务所,特殊普通合伙制事务所审计的发行公司的正向盈余管理水平更低,IPO 折价率也更低。研究结论表明事务所转制后,审计师加强了对发行公司盈余管理行为的约束,提高了 IPO 定价效率,监管部门推动的事务所转制对 IPO 市场具有积极治理效果。
|
| 关 键 词： | 事务所组织形式 盈余管理 IPO折价 有限责任制 特殊普通合伙制 |
The Legal Structure of Audit Firms, Earnings Management and IPO Underpricing |
| |
| FU Shaozheng,BI Xiaofang,ZHANG Junmin. The Legal Structure of Audit Firms, Earnings Management and IPO Underpricing[J]. The Theory and Practice of Finance and Economics, 2016, 0(2): 45-51. DOI: 10.3969/j.issn.1003-7217.2016.02.008 |
| |
| Authors: | FU Shaozheng BI Xiaofang ZHANG Junmin |
| |
| Abstract: | The change of the legal structure of audit firms increase auditors'wealth at risk from litigation damages and increase the audit value.This paper examines the relationship be-tween audit firm legal structure and IPO earnings management/IPO underpricing.We find that IPO firms audited by limited liability partnerships have lower upper earnings management and lower underpricing.The results indicate that auditors strengthen the constraints on earnings management behavior and improve the efficiency of IPO pricing after the change in the legal struc-ture of audit firms.The change in the legal structure of audit firms has a positive governance effect in IPO market. |
| |
| Keywords: | legal structure of audit firms earnings management IPO underpricing limited liability limited liability partnerships |
| 本文献已被 万方数据 等数据库收录！ |
| 点击此处可从《财经理论与实践》浏览原始摘要信息 |
|
点击此处可从《财经理论与实践》下载全文 |
|
