新审计报告特质信息披露的决策有用性研究--基于文本相似度视角  

The Research on the Decision Usefulness of Idiosyncratic Information in Extended Audit Reporting:Based on a Perspective of Text Similarity

作　　者：宋婕 邳宇晨 赵慧 SONG Jie;PI Yu-chen;ZHAO Hui

机构地区：[1]天津商业大学会计学院 [2]天津财经大学会计学院

出　　处：《中央财经大学学报》2024年第6期89-101,共13页Journal of Central University of Finance & Economics

基　　金：国家社会科学基金一般项目“审计师群体-客户关系固化的形成机理、驱动因素及后果研究”(项目编号:23BJY110);教育部人文社会科学研究一般项目“公允价值估计的审计行为及其审计质量:基于关键审计事项披露与田野调查的研究”(项目编号:20YJA79003);天津市财政局重点会计科研项目“新审计报告特质信息披露的决策有用性研究”(项目编号:Y230902)。

摘　　要：如何提升审计报告沟通价值对增强我国资本市场效率至关重要。本文基于关键审计事项(CAM)披露的文本相似度视角,考察新审计报告中蕴含的特质信息披露是否具有决策有用性。以2017—2020年A股上市公司为样本,研究发现:与同期同行业其他公司CAM披露的横向文本相似度越小,公司新审计报告特质信息披露的信息含量越大,表现为事件窗口内的累计超额回报越高。并且,这些特质信息披露的决策有用性主要来自CAM事项描述段,而非审计应对段。进一步研究发现,新审计报告特质信息披露的决策有用性主要存在于公司信息环境较差、审计师具有行业专长,以及公司有着更多专业投资者时。研究表明,新审计报告特质信息披露在我国资本市场具有决策有用性,为当前审计报告模式改革提供经验支撑与参考借鉴。Improving the communication value of audit reporting is crucial to the efficiency of the capital market.From the perspective of text similarity in critical audit matters(CAM)disclosure,this paper empirically examines the decision usefulness of idiosyncratic information in extended audit reporting.Using the sample of China's A-share listed companies between 2017 and 2020,we find that the horizontal textual similarity(HTS)of CAM disclosure compared with other companies in the same industry in the same period is negatively correlated with the cumulative abnormal returns(CAR).In addition,this paper finds that the decision usefulness of HTS in CAM primarily stems from the paragraph of risk description rather than the auditor responses.Additional analyses indicate that these findings are predominated in the companies with poorer information environment,those audited by industry experts,as well as companies with more sophisticated investors.The research shows that idiosyncratic disclosure of extended audit reporting has decision usefulness,providing empirical support and reference for the reform of audit report model.

关 键 词：新审计报告 关键审计事项披露 决策有用性 文本相似度 

分 类 号：F239.0[经济管理—会计学]