中央环保督察与审计收费——基于多期双重差分法的检验  

Central Environmental Protection Inspection and Audit Fees: A Test Based on Multi-period Differences-in-Differences Method

作　　者：李世刚 鲁逸楠 贺琛[2] Li Shigang;Lu Yinan;He Chen

机构地区：[1]江西财经大学会计学院 [2]湖北经济学院会计学院

出　　处：《宏观经济研究》2022年第7期129-148,共20页Macroeconomics

基　　金：国家自然科学基金项目(71962012);中国博士后面上项目(2019M662266);江西省博士后项目(2019RC04);国家社会科学基金项目(20CGL011)的资助。

摘　　要：中央环保督察不仅影响企业行为,还具有重要的外溢效应。本文以2013—2018年A股上市企业为样本,通过多期DID模型考察中央环保督察政策实施对上市公司审计费用的影响。实证结果显示,中央环保督察的实施显著提高了上市公司审计费用,这一结论经过一系列内生性和稳健性检验后依然成立。机制分析表明,中央环保督察主要通过提高审计师时间投入和风险溢价而提高审计费用。异质性分析发现,内部控制、分析师跟踪及外部机构持股能够显著降低中央环保督察对审计收费的关系强度。本文的研究将中央环保督察与注册会计师审计联系起来,丰富了环境规制经济后果和审计收费影响因素的相关文献,为全面理解中央环保督察的治理效应和注册会计师环境决策提供了重要的资料参考,也为进一步发挥环保督察效果提供了经验证据的支持。Central Environmental Protection Inspection not only affect firm behavior, but also have important spillover effects. Using a sample of A-share listed firms from 2013-2018, this paper examines the impact of the implementation of the Central Environmental Protection Inspection policy on the audit fees of listed firms through a multi-period DID model. The empirical results show that the implementation of the Central Environmental Protection Inspection significantly increases the audit fees of listed companies, and this finding still holds after a series of endogeneity and robustness tests. The mechanism analysis shows that Central Environmental Protection Inspection increase audit fees mainly by increasing auditors’ time investment and risk premiums. The heterogeneity analysis finds that internal control, analyst tracking, and external institutional ownership can significantly reduce the strength of the relationship between Central Environmental Protection Inspection on audit fees. The study in this paper links Central Environmental Protection Inspection to CPA auditing, enriching the literature on the economic consequences of environmental regulation and the factors influencing audit fees, providing an important source of reference for a comprehensive understanding of the governance effects of Central Environmental Protection Inspection and CPA environmental decision making, as well as providing empirical evidence to support the further development of the effects of environmental inspection.

关 键 词：中央环保督察 审计费用 内部控制 外部治理 

分 类 号：F239.4[经济管理—会计学] F832.51[经济管理—国民经济] X321[环境科学与工程—环境工程]