本文選題：上市公司 + 更換會(huì)計(jì)師事務(wù)所��； 參考：《廈門大學(xué)》2001年博士論文

【摘要】： 近年來，我國上市公司更換會(huì)計(jì)師事務(wù)所的現(xiàn)象逐年增多。上市公司的管理當(dāng)局通過更換會(huì)計(jì)師事務(wù)所以粉飾會(huì)計(jì)報(bào)表從而誤導(dǎo)投資者的惡性案件日益增多，這一現(xiàn)象應(yīng)當(dāng)引起人們的關(guān)注。因此，本文以1996至1999年間更換會(huì)計(jì)師事務(wù)所的國內(nèi)A股上市公司為研究對(duì)象，對(duì)更換會(huì)計(jì)師事務(wù)所的上市公司的基本特征、更換動(dòng)因、信息披露、市場反應(yīng)以及其他相關(guān)領(lǐng)域進(jìn)行系統(tǒng)的實(shí)證研究。筆者堅(jiān)信，這方面的研究既有助于增進(jìn)對(duì)審計(jì)服務(wù)市場的認(rèn)識(shí)，也有助于證券市場各參與主體(尤其是證券監(jiān)管部門)采取措施抑制上市公司管理當(dāng)局惡意更換會(huì)計(jì)師事務(wù)所，捍衛(wèi)注冊(cè)會(huì)計(jì)師的獨(dú)立性，確保投資者獲取決策所必須的高質(zhì)量會(huì)計(jì)信息。 本文共分為六章，各章的內(nèi)容簡要介紹如下： 第一章 緒論 本章主要闡述論文研究動(dòng)機(jī)、研究方法、研究的問題與假設(shè)。 第二章 審計(jì)理論及文獻(xiàn)綜述 本章首先對(duì)現(xiàn)代獨(dú)立審計(jì)的產(chǎn)生及其理論基礎(chǔ)進(jìn)行描述，并分析了我國獨(dú)立審計(jì)的若干特殊性，然后介紹國內(nèi)外關(guān)于更換會(huì)計(jì)師事務(wù)所的實(shí)證文獻(xiàn)，作為本文研究的起點(diǎn)。 第三章 樣本公司特征分析 本章首先對(duì)樣本公司的基本情況進(jìn)行描述性統(tǒng)計(jì)，然后針對(duì)樣本公司在更換前的公司規(guī)模、盈利水平、財(cái)務(wù)狀況、所獲得的審計(jì)意見 報(bào)告類型進(jìn)行實(shí)證分析，并得出關(guān)于樣本公司特征的三個(gè)結(jié)論：樣本 公司的規(guī)模顯著小于非樣本公司；樣本公司盈利水平顯著差于非樣本 公司，陷入財(cái)務(wù)困境的公司所占比例顯著高于非樣本公司，但在償債 能力和現(xiàn)金流量方面，樣本公司與非樣本公司并無顯著差異；樣本公 司更容易獲得非標(biāo)準(zhǔn)無保留審計(jì)意見，其所獲得的非標(biāo)準(zhǔn)無保留審計(jì) 意見顯著多于非樣本公司，且獲得的審計(jì)報(bào)告意見日益“惡化”。 第四章 更換原因分析 本章首先對(duì)樣本公司公開披露的更換原因進(jìn)行初步描述性分析， 然后針對(duì)樣本公司在更換后是否選擇當(dāng)?shù)氐臅?huì)計(jì)師事務(wù)所、更換后盈 利水平是否提高、所獲審計(jì)意見是否好轉(zhuǎn)進(jìn)行了實(shí)證分析，并對(duì)樣本 公司在更換后是否選擇不容易出具非標(biāo)準(zhǔn)無保留審計(jì)意見的1十大 所”進(jìn)行了實(shí)證分析，這一部分的研究得出以下幾個(gè)結(jié)論：樣本公司 更換會(huì)計(jì)師事務(wù)所時(shí)確實(shí)有考慮地區(qū)差異因素；上市公司更換會(huì)計(jì)師 事務(wù)所的一個(gè)真實(shí)的原因在于盈余管理的動(dòng)機(jī)；上市公司更換會(huì)計(jì)師 事務(wù)所的另一個(gè)原因是希望獲得“更好”的審計(jì)意見；從選擇的會(huì)計(jì) 師事務(wù)所傾向看，公司更換會(huì)計(jì)師事務(wù)所后，更加愿意聘用較少出具 非標(biāo)準(zhǔn)無保留審計(jì)意見的會(huì)計(jì)師事務(wù)所。本章最后建立幽，對(duì)上述 各因素是否與更換會(huì)計(jì)師事務(wù)所具有線性相關(guān)性進(jìn)行回歸分析。經(jīng)過 逐步回歸分祈，發(fā)現(xiàn)四個(gè)因素與更換會(huì)計(jì)師事務(wù)所顯著相關(guān)，其中： 更換前一年EPS是否增加為負(fù)相關(guān)；更換前一年是否獲得非標(biāo)準(zhǔn)無保 留審計(jì)意見為正相關(guān)：更換后上市公司選擇的會(huì)計(jì)師事務(wù)所所處地區(qū) 是否好轉(zhuǎn)（與上市公司是否處于同一地區(qū)）為正相關(guān)。上述三個(gè)變量 2 的回歸結(jié)果均與模型的預(yù)期設(shè)想一致。更換后是否獲得非標(biāo)準(zhǔn)無保留 審計(jì)意見為正相關(guān)，與模型的預(yù)期符號(hào)不一致，可能是因?yàn)闃颖竟?在更換前一年度獲得的非標(biāo)準(zhǔn)無保留審計(jì)意見太多，即使通過更換會(huì) 計(jì)師獲得了“較滿意”的審計(jì)意見，但樣本公司在更換后仍然獲得較 多的非標(biāo)準(zhǔn)無保留審計(jì)意見。 第五章 市場反應(yīng) 本章分為兩部分，第一部分研究樣本公司在更換前后年度的月超 額報(bào)酬率，發(fā)現(xiàn)樣本公司的累計(jì)超額報(bào)酬率一直呈現(xiàn)正值，這可能與 我國股市的“炒作”現(xiàn)象有關(guān)。我國股市往往喜歡炒作小盤股和績差 股，而樣本公司的基本特征正是如此。樣本公司各月的超額報(bào)酬率在 大多月份并不顯著，月超額報(bào)酬率顯著的幾個(gè)月份，其出現(xiàn)的時(shí)間和 規(guī)律與國內(nèi)股市炒作績差重組股的時(shí)間和規(guī)律相類似，進(jìn)一步從股價(jià) 波動(dòng)角度證明了本文第三章的結(jié)論。另外，在少數(shù)月份，超額報(bào)酬率 顯著小于0，尤其是在更換會(huì)計(jì)師事務(wù)所當(dāng)年財(cái)務(wù)報(bào)告公告后，月超額 報(bào)酬率連續(xù)兩個(gè)月顯著小0，表明市場仍然對(duì)樣本公司的業(yè)績報(bào)告、審 計(jì)意見和盈余管理信息（假設(shè)年報(bào)中將反映盈余管理信息）是有所反 應(yīng)的。 第二部分研究在更換會(huì)計(jì)師事務(wù)所公告日前后的日?qǐng)?bào)酬率，發(fā)現(xiàn) 市場對(duì)更換會(huì)計(jì)師事務(wù)所這一事件并未作出反應(yīng)，，這一方面說明投資 者尚未意識(shí)到上市公司在什么情況下以及為什么更換會(huì)計(jì)師事務(wù)所： 另一方面也說明投資者并未了解會(huì)計(jì)師事務(wù)所之間的審計(jì)質(zhì)量差別， 或者并不認(rèn)可這種差別。 3 第六章 研究結(jié)論和政策性建議 本章主要分析本文研究所形成的結(jié)論，并根據(jù)前述實(shí)證研究結(jié)果 提出了若干政策性建議，以維護(hù)高質(zhì)量執(zhí)業(yè)水準(zhǔn)所必需的審計(jì)獨(dú)立性。 此外，本章最后說明了本文的研究限制，并提出了未來進(jìn)一步研 究的建議。
[Abstract]:In recent years , the phenomenon of replacing accounting firms in China ' s listed companies has increased year by year . The management authority of the listed company , by replacing the accountant ' s affairs so as to mislead investors , should pay attention to this phenomenon . Therefore , the research in this area will not only help to improve the understanding of the audit service market , but also help the participating entities of the securities market ( especially the securities regulatory authorities ) to take measures to restrain the listed company ' s management authority to replace the accounting firm , safeguard the independence of the CPA and ensure the high - quality accounting information necessary for the investors to obtain the decision .









This article is divided into six chapters , the contents of each chapter are briefly introduced as follows :









Chapter 1 Introduction









This chapter mainly elaborates the motivation , research methods , problems and assumptions of the thesis .









Chapter II Audit Theory and Literature Review









Firstly , this chapter describes the generation of modern independent auditing and its theoretical basis , and analyzes the particularity of independent audit in China , then introduces the domestic and foreign empirical literature on replacing accounting firms as the starting point of this paper .









Chapter III Characteristics Analysis of Sample Company









This chapter firstly describes the basic situation of sample company , and then analyzes the company size , profit level , financial position and audit opinion of sample company before replacement .



















An empirical analysis of the type of report is conducted and three conclusions about the characteristics of the sample company are drawn : samples









The size of the company is significantly smaller than that of non - sample companies ;
Sample corporate profitability significantly worse than non - sample









The company , which is in financial distress , accounts for a significantly higher proportion than non - sample companies , but in debt service









There is no significant difference between sample companies and non - sample companies in terms of capacity and cash flow ;
sample male









Division easier access to non - standard unqualified audit opinion , non - standard unqualified audit obtained









The opinion was significantly more than that of non - sample companies , and the audit reports received were increasingly " deteriorating " .









Chapter IV Cause Analysis of Replacement









In this chapter , a preliminary descriptive analysis of the reasons for replacement disclosed by the sample company is first conducted ,









Then , for the sample company , whether the local accounting firm is selected after the replacement is replaced , and the post is replaced









Whether the interest level is improved or not , and whether the audit opinion has improved or not is positively analyzed , and the sample is analyzed









Whether the Company chooses not to issue non - standard non - standard unqualified audit opinions after replacement









This part of the study concludes with the following conclusions : sample companies









When replacing an accounting firm , there is a real consideration of the regional difference factors .
Certified public company replacement accountant









One of the real reasons for the firm is the motivation of earnings management ;
Certified public company replacement accountant









Another reason for the firm is the desire to obtain a " better " audit opinion ;
From selected accounting









The company tends to see that after the company has replaced the accounting firm , it is more willing to hire less issuance









Non - standard accounting firm with unqualified audit opinion . In the end of this chapter , it is established .









Whether each factor has a linear correlation with the replacement accounting firm for regression analysis . & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp ; & nbsp









The stepwise regression method finds that the four factors are significantly related to the replacement of accounting firms , including :









Whether the EPS of the previous year has been increased to negative correlation ;
Whether the non - standard non - warranty is obtained in the previous year









The audit opinion is positive related : the area where the accounting firm selected by the listed company is replaced after the replacement









Whether the improvement is positive ( whether the listed company is in the same area ) is positive . The above three variables









2 .



















The regression results are consistent with the intended vision of the model . Do not obtain non - standard non - retention after replacement









The audit opinion is positive and inconsistent with the expected symbol of the model , possibly due to sample company









Too many non - standard unqualified audit opinions obtained during the previous year , even through replacement









The auditor received a " more satisfied " audit opinion , but the sample company was still available after replacement









Multiple non - standard unqualified audit opinions .









Chapter V Market Response









This chapter is divided into two parts , the first part of the research sample company to replace the month before and after the change









The cumulative excess return rate of the sample company has been found to be positive , which may be related to









China ' s stock market is related to the phenomenon of " stir - frying " . China ' s stock market often likes to hype up small stock and poor performance









The basic features of the sample company are the same . The excess return rate for each month of the sample company is









Most of the month was not significantly , and the monthly excess return rate was significant for several months , the time it appeared and









The rule is similar to the time and law of the stock market speculation , further from stock price









The wave angle proves the conclusion of chapter 3 of this paper . In addition , in the minority month , the excess return rate









significantly less than 0 , especially after replacing accounting firm ' s annual financial report announcement , monthly excess









The rate of return for two consecutive months is significantly less than 0 , indicating that the market is still reporting on the performance of the sample company









Information on accounting and earnings management ( assuming that surplus management information will be reflected in the annual report ) is reversed









It shall be .









The second part is to study the daily return rate before and after the public announcement of the accounting firm , and find









The market does not respond to the incident of replacing an accounting firm , which illustrates the investment









The person has not been aware of the circumstances of the listed company and why the accounting firm is replaced :









on the other hand , the investor does not know the audit quality difference between the accounting firms ,









or such differences are not recognized .









3 .



















Chapter 6 Research conclusions and policy recommendations









In this chapter , the conclusions of this paper are mainly analyzed , and the results are based on the empirical results .









Several policy suggestions are put forward to maintain the auditing independence necessary for high - quality practice standards .









In addition , this chapter explains the limitations of the study , and puts forward further research in the future









A fine proposal .

【學(xué)位授予單位】：廈門大學(xué)
【學(xué)位級(jí)別】：博士
【學(xué)位授予年份】：2001
【分類號(hào)】：F239.4

【引證文獻(xiàn)】

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相關(guān)博士學(xué)位論文 前3條

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本文編號(hào)：1820215