债权人关注签字会计师的个人经验吗?——基于债务成本视角的经验证据  

Do Creditors Care about the Signing Auditors'Experience?——Evidence from the perspective of cost of debt

作　　者：刘笑霞 刘婷[2] Liu Xiaoxia;Liu Ting

机构地区：[1]南京理工大学经济管理学院,210094 [2]北京工商大学商学院,100048

出　　处：《审计研究》2024年第2期101-112,共12页Auditing Research

基　　金：国家社会科学基金一般项目(项目批准号:21BGL011、22BGL087);北京市属高等学校优秀青年人才培育计划项目(项目批准号:BPHR202203060)的资助。

摘　　要：本研究采用我国A股非金融类上市公司数据,检验签字会计师个人经验和公司债务成本之间的关系。结果发现,二者之间呈显著负向关系。这表明,债权人在对债务进行定价时,会考虑签字会计师的个人经验并对经验丰富的签字会计师所审计公司予以优惠。机制检验表明,签字会计师经验的积累有助于提高企业会计信息质量,进而有助于降低债务成本。进一步研究表明,签字会计师个人经验对债务成本的抑制作用主要来自行业经验,且这一作用仅存在于信息不对称程度较高、经营复杂性高的企业中。本研究从债权人角度提供了签字会计师个人经验经济后果的经验证据,并拓展了审计师个人经验与债务融资之间关系的研究。Using the data of Chinese A-share listed nonfinancial companies,this paper studies the relationship between the experience of signing auditors and a firm's cost of debt(COD).The experience of signing auditors is measured by the cumulative number of audit reports an auditor has issued until the current year.The results show that the experience of signing auditors is negatively associated with COD,indicating that creditors will consider the experience of the signing auditors who audit the financial statements of the debtor and give preferential treatment to companies audited by experienced signing auditors in debt pricing.Mechanistic tests suggest that the personal experience of the signing auditors improves the quality of their client's accounting information,which in turn helps to reduce COD.The association,originating mainly from industry experience,is only significant in the context with high degree of business complexity and information asymmetry.This paper provides empirical evidence of the economic consequences of the signing auditors'experience from the creditor's perspective,and it also enriches the literature on the relationship between the individual auditor's experience and debt financing.

关 键 词：签字会计师经验审计质量 信用风险 债务成本 

分 类 号：F275[经济管理—企业管理] F239.4[经济管理—国民经济] F832.51