审计市场竞争加剧能改善审计质量吗?——“备案制”实施的准自然实验  

Does Audit Market Competition Improve Audit Quality?——A quasi-natural experiment on the implementation of the“Filing System”

作　　者：徐业坤 郑秀峰 Xu Yekun;Zheng Xiufeng

机构地区：[1]辽宁大学经济学部商学院,110136

出　　处：《审计研究》2024年第1期89-101,共13页Auditing Research

基　　金：国家社会科学基金项目(项目批准号:21BGL110);国家自然科学基金青年项目(项目批准号:71802041);辽宁省社会科学规划基金重点项目(项目批准号:L20AGL009)的资助。

摘　　要：以新证券法“备案制”的实施为准自然实验,利用2016-2022年我国A股上市公司样本,本文构建双重差分模型考察审计市场竞争对审计质量的影响。研究发现,“备案制”实施后,审计市场集中度显著下降,受审计市场竞争冲击的事务所会降低审计收费且被替换的可能性明显增加;审计市场竞争的加剧显著提高了审计质量,说明“备案制”促进了我国审计市场的良性竞争。截面检验发现,审计关系不稳定、审计专长水平较低、审计忙碌度较低以及客户所处地区政府干预较强、法治环境较差时,审计市场竞争对审计质量的改善作用尤为明显。本文从审计质量视角提供了“备案制”实施经济后果的经验证据,对于理解审计市场竞争、审计质量的影响因素具有重要价值。Taking the implementation of the“filing system”under the new Securities Law as a quasi-natural experiment,this study adopts a DID model using a sample of A-share listed companies in China from 2016to 2022 to examine the impact of audit market competition on audit quality.The results indicate that after the implementation of the“filing system”,the concentration on the audit market has significantly reduced,and audit firms confronted with the market competition are more likely to reduce audit fees and face a higher probability of being replaced.The intensification of audit market competition after the implementation of the“filing system”has significantly improved audit quality,indicating that its implementation has promoted healthy competition in China's audit market.The cross-sectional analysis reveals that the impact of audit market competition on audit quality is more pronounced when auditing relationship is unstable,audit firms are less professional,less busy,or audit clients are located in regions with stronger government intervention or weaker legal environment.This paper provides empirical evidence on the micro-economic consequences of the revision of the new Securities Law from the perspective of audit quality,which is of values for understanding audit market competition and the determinants of audit quality.

关 键 词：审计市场竞争 审计质量 “备案制”实施 审计服务供给 

分 类 号：F239.4[经济管理—会计学] F832.51[经济管理—国民经济]