社会信任、审计师选择与企业投资效率  

Social Trust,Auditor Choice and Investment Efficiency

作　　者：雷光勇[1,2] 邱保印[1,2] 王文忠[1,2] 

机构地区：[1]对外经济贸易大学国际财务与会计研究中心 [2]对外经济贸易大学国际商学院

出　　处：《审计研究》2014年第4期72-80,共9页Auditing Research

摘　　要：本文以2007—2012年中国沪深两市A股上市公司为样本,考察社会信任、审计师选择与投资效率之间的关系,试图从社会信任角度解释审计师选择的非正式制度影响因素,找到社会信任影响企业投资效率的机制及其后果。研究发现:社会信任与审计质量均呈显著正相关,较高社会信任地区的企业更愿意聘请高质量审计师。在审计质量与投资效率的检验中,发现高质量审计可以显著地提高企业投资效率。进一步检验发现,社会信任可以强化审计质量对非国企投资效率的影响,在国企中这种强化作用则没有那么明显,这可能与国企通常不将效率作为投资的主要衡量标准有关。Constructed on samples from 2007 to 2012 from Ashare companies listed in Shanghai and Shenzhen Stock Exchange, we establish hypotheses regarding the relationship among social trust, auditor choice and investment efficiency and attempt to explain the factor of auditor choice from the perspective of social trust, seek for the influence of social trust on efficiency of enterprise investment mechanism and its consequences. The study found：Social trust and audit quality has significant positive correlation, shows that high social trust region enterprises prefer to employ high quality auditors. Considering the correlation between the quality of auditing services provided by audi tors and corresponding investment efficiency of an individual firm, it is found that highquality audit can significantly improve the efficiency of corporate investment. Further research helps us to confirm that social trust can strengthen the influence from social trust on the investment efficiency in stateowned enterprises. Meanwhile, the result is am biguous to stateowned enterprises in the samples,which may a main account when SOEs decide corporate investment refer to a hypothesis that the level of efficiency is not

关 键 词：社会信任 审计师选择 投资效率 非正式制度 

分 类 号：F832.51[经济管理—金融学] F275F239