审计研究
審計研究
심계연구
Audit Research
2012年
2期
90~97
,共null页
中期财务报告 自愿审计 市场反应
中期財務報告 自願審計 市場反應
중기재무보고 자원심계 시장반응
the interim report, voluntary auditing, market reaction
作为外部治理机制的审计是公司信息披露质量的重要保证，目前法规对上市公司中期财务报告的审计并无强制性法规要求，许多上市公司选择中期财务报表自愿审计，其行为是一种主动传递信息的过程。本文通过对我国上市公司2007至2010年证券市场自愿中报审计的经验数据分析，对公司自愿中报审计的动机和市场反应进行了实证研究。研究发现：公司中期财务报表自愿审计与公司的成长性和公司规模显著相关，且公司的财务状况和股权性质对公司的自愿审计有一定影响；同时，市场对上市公司中期财务报告自愿审计行为有一定的正面反应，但这种反应效力不足，且持续力较低。
作為外部治理機製的審計是公司信息披露質量的重要保證，目前法規對上市公司中期財務報告的審計併無彊製性法規要求，許多上市公司選擇中期財務報錶自願審計，其行為是一種主動傳遞信息的過程。本文通過對我國上市公司2007至2010年證券市場自願中報審計的經驗數據分析，對公司自願中報審計的動機和市場反應進行瞭實證研究。研究髮現：公司中期財務報錶自願審計與公司的成長性和公司規模顯著相關，且公司的財務狀況和股權性質對公司的自願審計有一定影響；同時，市場對上市公司中期財務報告自願審計行為有一定的正麵反應，但這種反應效力不足，且持續力較低。
작위외부치리궤제적심계시공사신식피로질량적중요보증，목전법규대상시공사중기재무보고적심계병무강제성법규요구，허다상시공사선택중기재무보표자원심계，기행위시일충주동전체신식적과정。본문통과대아국상시공사2007지2010년증권시장자원중보심계적경험수거분석，대공사자원중보심계적동궤화시장반응진행료실증연구。연구발현：공사중기재무보표자원심계여공사적성장성화공사규모현저상관，차공사적재무상황화고권성질대공사적자원심계유일정영향；동시，시장대상시공사중기재무보고자원심계행위유일정적정면반응，단저충반응효력불족，차지속력교저。
Audit is an important guarantee for information disclosure quality as an external governance mechanism. There are no mandatory legal requirements for audit of interim financial reports of listed companies, and many listed companies select voluntary audit of their interim financial statements which is an active process of transmission of information for them. Based on a classical phenomenon underlying Chinese developing capital markets, the factors and market reactions of voluntary auditing of the interim reports are investigated. Though the analyses of data from 2007 to 2010, we found that the corporate growth rate and size are significantly related with the demands of corporate voluntary auditing, and corporate financial condition and shareholders nature can also influence the action of voluntary auditing. For the market reaction, capital market has positive reaction on voluntary auditing of interim report. However, it can not last to long.
