国际“四大”与高审计质量——基于股价波动同步性视角的考察
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引用本文:袁知柱,王泽燊,吴粒,张一帆.国际“四大”与高审计质量——基于股价波动同步性视角的考察[J].财经理论与实践,2014,(4):53-59
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袁知柱,王泽燊,吴粒,张一帆 (东北大学 工商管理学院辽宁 沈阳110004) 
中文摘要:基于股价波动同步性新视角,以2003~2011年的中国上市公司为样本,对国际“四大”会计师事务所提供的审计质量是否显著高于国内“非四大”这一问题进行了检验。研究结果表明:国际“四大”审计的上市公司的股价波动同步性与“非四大”没有显著差异,因此两者提供的审计质量差异不显著。进一步对各“四大”事务所的单独检验结果发现,安永华明、毕马威华振、德勤华永和普华永道中天的审计质量与“非四大”的差异均不显著。最后按照会计准则、投资者保护程度、终极控股人性质及管理层持股等方法将样本分组检验,发现在各种不同的内外部治理环境下审计质量仍然没有显著差异。
中文关键词:国际“四大”  国内“非四大”  审计质量  股价波动同步性
 
International “Big 4” and High Audit Quality——A Research Based on the Perspective of Stock Price Synchronicity
Abstract:Using Chinese listed companies data from 2003 to 2011 as samples, the paper examines the issue that whether the international “Big 4” accounting firms (Ernst & Young, KPMG, Deloitte, and Price Waterhouse Coopers) provide significantly higher audit quality than China's accounting firms based on the new perspective of stock price synchronicity. The empirical results show that: there is no significant difference for stock price synchronicity between the companies audited by international “Big 4” and “non-Big 4” in China, indicating that the audit quality differences between them are not significant. Further test based on the “Big 4” accounting firms separately finds that the audit quality differences between Ernst & Young, KPMG, Deloitte, and Price Waterhouse Coopers and “non-Big 4” are not significant. Finally the paper divides the sample into several sub-samples in accordance with accounting standards, investor protection degree, the nature of the ultimate controller and managerial ownership, and finds that the audit quality differences are still not significant in a variety of different internal and external governance environments.
keywords:International “Big 4”  Chinese Accounting Firm  Audit Quality  Stock Price Synchronicity
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