| 中国上市公司外部审计治理有效性的实证研究——基于CEO变更视角 |
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| 引用本文： | 蒋荣,刘星,刘斌.中国上市公司外部审计治理有效性的实证研究——基于CEO变更视角[J].财经研究,2007,33(11):92-103. |
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| 作者姓名： | 蒋荣 刘星 刘斌 |
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| 作者单位： | 1. 重庆大学,贸易与行政学院,重庆,400044
2. 重庆大学,经济与工商管理学院,重庆,400044 |
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| 基金项目： | 国家自然科学基金资助项目(70372041) |
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| 摘 要： | 外部审计作为公司治理机制不可或缺的有机组成部分,其治理效应一直备受各界关注。文章运用Logist回归方法,以1999~2004年中国上市公司的CEO变更为视角,通过研究CEO变更与"非标"意见的相关性,探讨外部审计的治理效应。研究发现:CEO变更与"非标"意见显著正相关;"非标"意见下,CEO变更对公司业绩的敏感性强于标准审计意见公司;不过,"非标"意见并没有增强CEO变更对两职分离与股权制衡的敏感性。上述结论在一定程度上验证了外部审计治理机制的有效性,同时表明外部审计的治理效应有赖于公司内部治理机制的完善。
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| 关 键 词： | CEO变更 “非标”意见 治理效应 |
| 文章编号： | 1001-9952（2007）11-0092-12 |
| 收稿时间： | 2007-04-20 |
| 修稿时间： | 2007-04-20 |
An Empirical Study on the Governance Effect of the Exterior Audit from Chinese Listed Companies:A View from CEO Turnover |
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| JIANG Rong,LIU Xing,LIU Bin.An Empirical Study on the Governance Effect of the Exterior Audit from Chinese Listed Companies:A View from CEO Turnover[J].The Study of Finance and Economics,2007,33(11):92-103. |
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| Authors: | JIANG Rong LIU Xing LIU Bin |
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| Institution: | 1. School of Trade and Administration, Chongqing University, Chongqing 400044, China ; 2. School of Economics and Business Administration, Chongqing University, Chongqing 400044, China |
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| Abstract: | This paper studies the exterior audit's governance effect by analyzing the relation between CEO turnover and nonstandard audit opinions.The evidence suggests that the probability of CEO turnover is significantly positively related to the nonstandard audit opinions.On the condition of nonstandard audit opinions,CEO turnover is significantly positively related to firm performance.However,nonstandard audit opinions don't strengthen the sensitivity of CEO turnover to check-and-balance ownership structure.So the above results partly verify that exterior audit is an efficient supervise mechanism,and the governance effect is dependent up on internal monitoring mechanisms. |
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| Keywords: | CEO turnover nonstandard audit opinion governance effect |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
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