供应链垂直整合能够降低审计费用吗?  

Can Vertical Integration of the Supply Chain Reduce Audit Fees ?

作　　者：秦杰 杨强 孙乾 张文宇 QIN Jie;YANG Qiang;SUN Qian;ZHANG Wenyu(School of Economics,Nanjing Audit University,Nanjing 211815,China;School of Business,Nanjing Audit University,Nanjing 211815,China;School of Economics and Management,Nanjing University of Science and Technology,Nanjing 210094,China)

机构地区：[1]南京审计大学经济学院,江苏南京211815 [2]南京审计大学商学院,江苏南京211815 [3]南京理工大学经济管理学院,江苏南京210094

出　　处：《经济经纬》2025年第2期148-160,共13页Economic Survey

基　　金：国家社会科学基金重点项目(23AJY018);江苏省研究生科研与实践创新计划(KYCX23_0603)。

摘　　要：以2008—2023年中国A股上市公司为研究对象,从纵向一体化的视角检验了供应链垂直整合对审计费用的影响。研究发现:供应链垂直整合能够显著降低审计费用,体现了供应链专业化整合在提升企业成本效益方面的重要作用;机制检验表明,供应链垂直整合水平主要通过“降低经营风险”和“降低信息不对称”两条机制对审计费用产生抑制作用;异质性分析结果表明,当企业外部交易成本较高或内部管控成本较低时,供应链垂直整合对审计费用的抑制作用更为明显。研究不仅深化了供应链垂直整合经济后果的研究,而且进一步拓展了审计费用影响因素的研究边界,为企业优化供应链资源配置、发挥审计费用的成本优势提供了经验证据和理论支撑。Taking China’s A-share listed companies from 2008 to 2023 as the research objects,this paper examines the impact of vertical integration of supply chains on audit fees from the perspective of vertical integration.The research findings show that vertical integration of the supply chain can significantly reduce audit fees,highlighting the important role of supply chain specialization and integration in enhancing corporate cost-effectiveness.The mechanism test demonstrates that the level of vertical integration in the supply chain mainly exerts a mitigating effect on audit fees through two channels:“reducing operating risks”and“reducing information asymmetry”.The results of the heterogeneity analysis indicate that the mitigating effect of supply chain vertical integration on audit fees is more pronounced when a firm’s external transaction costs are higher or its internal control costs are lower.The study not only deepens the research on the economic consequences of vertical integration in the supply chain,but also further expands the boundaries of research on the determinants of audit fees.Additionally,it provides empirical evidence and theoretical support for enterprises to optimize their supply chain resource allocation and leverage cost advantages in audit fees.

关 键 词：供应链 垂直整合 审计费用 经营风险 信息不对称 

分 类 号：F239[经济管理—会计学]