供应商关系的公司价值鉴证效应  

Corporate Value Assurance Effect of Supplier Relationship

作　　者：郑军[1] 林钟高[1] 徐德信[1] 彭琳[1] 

机构地区：[1]安徽工业大学商学院,安徽马鞍山243002

出　　处：《财经研究》2016年第6期121-132,共12页Journal of Finance and Economics

基　　金：国家自然科学基金项目(71272220;71402001;71572002);国家社会科学基金项目(11BJL019);安徽省高校优秀青年人才基金重点项目(2013SQRW021ZD);安徽省高校人文社科重点研究基地招标课题(SK2014A033)

摘　　要：文章以中国制造业上市公司为研究对象,考察了外部审计鉴证是否可以替代内部关系治理来提升供应商关系的价值创造效应。研究发现,紧密的供应商关系显著提升了公司的价值,同时也降低了企业对高质量审计鉴证服务的需求,但这种需求的降低并没有弱化供应商关系对公司价值的提升作用,说明内部关系治理与高质量审计鉴证服务存在替代效应。同时,随着外部制度环境的改善,上述替代效应会减弱。文章为理解外部审计鉴证与以关系治理为主要特征的转型经济社会中的关系网络如何联合影响公司价值创造提供了更为直接的经验证据,从外部审计鉴证的视角进一步丰富和拓展了关系型交易影响公司价值的研究文献。This paper takes Chinese manufacturing listed companies as the research object,investigates the possibility of the promotion role of assurance service of external auditors instead of internal relational governance in the value creation effect of supplier relationship.It arrives at the conclusions that close relationship between firms and their key suppliers can significantly enhance corporate value,and simultaneously reduce firms＇ demand for high quality audit assurance services,but the reduction in the demand for high quality audit assurance services does not weaken the promotion role of supplier relationship in corporate value,showing that there is a substitution relationship between internal relationship governance and high quality audit assurance services.At the same time,with the improvement of external institutional environment,the substitution effect above-mentioned weakens.This paper provides more direct evidence for the understanding of the joint effects of external audit assurance relationship networks in transition economy society mainly featured by relationship governance on corporate value creation,and further enriches extends the literature of the effect of relationship-based exchanges on corporate value from the perspective of external audit assurance.

关 键 词：供应商关系 审计鉴证 价值创造 制度环境 

分 类 号：F239.4[经济管理—会计学]