摘要
本文运用2005-2010年中国A股上市公司的数据，实证研究媒体关注对审计收费的影响以及市场化程度这一制度环境在其中所发挥的作用。实证结果表明，上市公司的媒体关注度越高，其年度审计费用越高，且该效应随着市场化程度的提升更加显著。这说明审计客户在媒体上的高度曝光会使得审计师更加担心审计失败暴露的风险，以及由此带来的名誉损失和恢复成本，导致审计师在审计契约谈判过程中要求更高的预期风险补偿，最终表现为审计收费溢价的提高。因此，本文认为媒体通过对审计师鉴证行为的影响，在一定程度上发挥了对上市公司治理的作用，且媒体治理效应会受到制度环境的制约。
In this paper,the relationship between media coverage and audit fee has been investigated using the data from Chinese listed companies during 2005-2010.The influence of marketing process on this relationship also has been examined.The authors find the media coverage is positively correlated with the annual audit fee,and the marketing process enlarges the positive correlation between media coverage and audit fee.This finding shows that the auditor uses the mass media to collect information and estimates the audit risk.During this procedure,the auditor pays more attention to the risk and potential failure cost which is raised by the high media coverage and charges extra fee for the risk and cost.This paper not only provides the direct evidence for determinates of audit fee,but also implies that auditing is a path of the media governance.And the effects of media governance are impacted by the marketing process.
出处
《中南财经政法大学学报》
CSSCI
北大核心
2014年第3期123-130,160,共8页
Journal of Zhongnan University of Economics and Law
基金
国家社会科学基金青年项目"分析师报告内在特质与资本市场效率研究"(13CGL031)
教育部人文社科基金青年项目"新闻传媒与资本市场:作用机理与效果检验"(12YJC630159)
中国博士后基金项目(2012M510284)
中南财经政法大学研究生创新教育计划项目"分析师预测的决策机制研究"(2013S0924)
关键词
媒体关注
市场化程度
审计收费
制度环境
Media Coverage
Marketing Process
Audit Fee
Institutional Environment
