摘要
以A+H股上市公司2016年度审计报告中首次披露的关键审计事项为研究对象,采用事件研究法比较了A股(内地)和H股(中国香港地区)资本市场投资者对关键审计事项的反应差异,结果表明:A股市场对关键审计事项反应积极,而H股市场对关键审计事项反应不足。进一步研究发现,A股和H股市场均对国际四大与非国际四大披露的关键审计事项反应存在显著差异,且两地投资者对国际四大出具的关键审计事项的市场反应强度高于非国际四大;国际四大中普华永道中天的审计市场份额最大,A股和H股市场投资者对其出具的关键审计事项的市场反应亦显著高于其他国际三大。
Taking the key audit items first disclosed in the auditing reports of A+H-share listed companies in 2016 as the research object,this paper compares the reaction difference of investors to key audit items between A-share(mainland) and H-share(Hong Kong,China)capital markets by event study method. The results show that A-share market reacts significantly to key audit matters,while H-share market has no noticeable reaction. Further research finds that there are significant differences between A-share and H-share markets in reaction to key audit items disclosed by the international Big4 and that not by Big4 and both markets are more active to Big4. In addition,the audit market share of PwC Zhongtian is the largest among Big4. The market reaction of investors in A-share and H-share markets to key audit issues issued by PwC Zhongtian is also significantly higher than that of other three international companies.
作者
张子健
李小林
ZHANG Zijian;LI Xiaolin(Business School,Hunan Normal University,Changsha 410081,China;College of Economics and Management,Hengyang Normal University,Hengyang 421002,China)
出处
《南京审计大学学报》
CSSCI
北大核心
2019年第4期11-21,共11页
Journal of Nanjing Audit University
基金
国家自然科学基金项目(71702054)
湖南省教育厅科研项目(16C1000)
关键词
关键审计事项
审计报告
国际四大
市场反应
A+H股
审计事项反应
信息披露
key audit matters
audit report
international Big4
market reaction
A+H shares
reaction to audit matters
information disclosure
