媒体负面报道与审计契约稳定性
——基于事务所组织形式变更视角的分析

商业研究

媒体负面报道与审计契约稳定性 ——基于事务所组织形式变更视角的分析

张俊民，张晓，肖志超

天津财经大学商学院，天津 300222

收稿日期:2017-01-16 出版日期:2017-07-20
作者简介:张俊民（1960-），男，山东鱼台人，天津财经大学商学院教授，博士生导师，管理学博士，研究方向：会计监管、审计理论；张晓（1989-），女，山东德州人，天津财经大学商学院博士研究生，研究方向：审计理论、财务会计；肖志超（1989-），男，河北邢台人，天津财经大学商学院博士研究生，研究方向：财务会计、公司金融。
基金资助:
国家自然科学基金面上项目，项目编号：71272189；教育部人文社会科学研究青年基金项目，项目编号：14YJC630048；国家自然科学青年基金项目，项目编号：71502122。

Negative Media Coverage and Audit Contract Stability: An Analysis from the Perspective of Transformation of Auditors′ Organization

ZHANG Jun-min, ZHANG Xiao, XIAO Zhi-chao

School of Business，Tianjin University of Finance and Economics，Tianjin 300222,China

Received:2017-01-16 Online:2017-07-20

摘要/Abstract

摘要： 作为公司外部治理机制之一，通过对信息的收集、处理和扩散，媒体在降低信息不对称的同时，影响着各类信息使用者对上市公司的风险感知。作为资本市场信息鉴证服务的提供者，审计师对企业风险的判断受到媒体负面报道的影响。基于事务所转制视角，本文以2009-2015年沪深A股上市公司为样本，实证分析媒体负面报道对审计契约稳定性的影响。研究发现，负面报道次数与审计师变更之间显著正相关；与转制前相比，转制后的负面报道对审计师变更的影响更加显著；按照地区法制环境和公司内部控制建设水平分组后，这些关系仅存在于在地区法制环境建设水平较高、公司内部控制质量较差的样本中。上述结论意味着我国基于市场竞争的声誉机制虽然尚不成熟，但审计师法律责任的强化是媒体发挥治理作用的重要路径，媒体扮演好监督角色对资本市场的健康发展具有重要意义。

关键词: 负面报道, 审计契约稳定性, 法律责任, 事务所转制

Abstract: As one of the corporate external governance mechanisms, media can reduce the information asymmetry as well as affect all types of information users′ risk perception through collecting, processing and diffusing information. As a provider of information attestation services in capital market, auditors′ judgments of corporate risk are influenced by negative media coverage. Based on transformation of auditors′ organization and using the data from the Chinese listed companies in 2009-2015, the study examines the effects of negative media coverage on audit contract stability. Research finds that negative coverage time positively correlated with auditor changes and the relationship after the transformation is more significant than before the transformation; this only occurs in the region with a better legal environment and in the company with a bad internal control. These results mean that the reputation mechanism which is based on market competition is not yet mature, while the improvement of legal institution is an important mechanism of media governance and the supervision role of media is of significant importance to the healthy development of capital market.

Key words: negative coverage, audit contract stability, legal liability, transformation of auditors′ organization

张俊民，张晓，肖志超. 媒体负面报道与审计契约稳定性 ——基于事务所组织形式变更视角的分析[J]. 商业研究.

ZHANG Jun-min, ZHANG Xiao, XIAO Zhi-chao. Negative Media Coverage and Audit Contract Stability: An Analysis from the Perspective of Transformation of Auditors′ Organization[J]. 商业研究.

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