本文關(guān)鍵詞： 審計(jì)師選擇 企業(yè)價(jià)值 實(shí)際控制人性質(zhì) A股上市公司　出處：《北京交通大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：企業(yè)的生存發(fā)展在于對(duì)于價(jià)值的發(fā)現(xiàn)和創(chuàng)造。隨著市場(chǎng)經(jīng)濟(jì)的發(fā)展,企業(yè)的經(jīng)營(yíng)機(jī)構(gòu)和管理體系發(fā)生了翻天覆地的變化。以前的以規(guī)模和市場(chǎng)份額為基礎(chǔ)的管理思想面臨著巨大的挑戰(zhàn)。財(cái)務(wù)管理目標(biāo)逐漸從利潤(rùn)最大化、規(guī)模最大化轉(zhuǎn)變?yōu)槠髽I(yè)價(jià)值最大化。企業(yè)管理的注意力逐步轉(zhuǎn)移并集中到企業(yè)價(jià)值的管理上來,自然無論是理論界還是實(shí)務(wù)界研究的重點(diǎn)便成了如何提升企業(yè)的價(jià)值。不可否認(rèn)的是企業(yè)價(jià)值的提升對(duì)經(jīng)濟(jì)的發(fā)展產(chǎn)生重要的影響。影響企業(yè)價(jià)值的相關(guān)因素自然也成為理論界研究的焦點(diǎn)。規(guī)模大的會(huì)計(jì)師事務(wù)所能夠提供高質(zhì)量的審計(jì)服務(wù)是社會(huì)所認(rèn)可的,而會(huì)計(jì)師事務(wù)所規(guī)模大小會(huì)對(duì)企業(yè)價(jià)值產(chǎn)生什么樣的影響?此外,不同控股權(quán)性質(zhì)的企業(yè)所處的經(jīng)營(yíng)環(huán)境也各不相同,具體而言,各個(gè)企業(yè)處在不盡相同的法制化水平、市場(chǎng)化程度等環(huán)境中,該環(huán)境會(huì)對(duì)企業(yè)的發(fā)展產(chǎn)生深遠(yuǎn)的影響,進(jìn)而改變企業(yè)的價(jià)值,所以審計(jì)師選擇與企業(yè)價(jià)值的相關(guān)程度在不同控股權(quán)性質(zhì)上市公司中是否產(chǎn)生差異也是值得研究的一個(gè)問題。本文實(shí)證數(shù)據(jù)來源于2012-2015年我國(guó)資本市場(chǎng)A股上市公司,共選取6734個(gè)有效觀測(cè)樣本,采用規(guī)范性研究和實(shí)證研究相結(jié)合的方法,經(jīng)過描述性統(tǒng)計(jì)分析、Pearson相關(guān)性分析和OLS多元線性回歸分析,檢驗(yàn)了審計(jì)師選擇與企業(yè)價(jià)值之間的關(guān)系及兩者的相關(guān)程度在不同控股權(quán)性質(zhì)上市公司中的差異。實(shí)證結(jié)果表明,在控制公司規(guī)模、償債能力、成長(zhǎng)性等變量后,審計(jì)師選擇與企業(yè)價(jià)值呈正相關(guān)關(guān)系,大規(guī)模審計(jì)師對(duì)企業(yè)價(jià)值提升效果更好;且兩者間的相關(guān)程度在不同控股權(quán)性質(zhì)上市公司中有顯著差異,審計(jì)師對(duì)非國(guó)有企業(yè)的價(jià)值提升效果更好。穩(wěn)健性檢驗(yàn)表明,研究結(jié)論不依賴于變量的選取和衡量方法,具有較強(qiáng)的可靠性。本文主要?jiǎng)?chuàng)新點(diǎn)在于:(1)采取新的切入點(diǎn),對(duì)審計(jì)師選擇、實(shí)際控制人性質(zhì)與企業(yè)價(jià)值三者關(guān)聯(lián)性進(jìn)行研究,考察了審計(jì)師選擇與企業(yè)價(jià)值的相關(guān)程度在不同實(shí)際控制人性質(zhì)上市公司中的差異性;(2)采取新的研究視角,豐富了現(xiàn)有條件下審計(jì)師選擇對(duì)企業(yè)價(jià)值的影響研究,為研究提供了增量的數(shù)據(jù)。本文致力于通過相關(guān)研究探尋審計(jì)師選擇對(duì)于企業(yè)價(jià)值產(chǎn)生的影響,并發(fā)掘兩者在不同控股權(quán)性質(zhì)上市公司中相關(guān)程度。這一方面豐富了審計(jì)師選擇與企業(yè)價(jià)值相關(guān)的文獻(xiàn),為如何更好的提升企業(yè)價(jià)值提供了一些建議,并且也可以為政府促進(jìn)國(guó)企發(fā)展提供一些意見,比如說更進(jìn)一步的降低政府干預(yù)等。
[Abstract]:The survival and development of enterprises lies in the discovery and creation of value, with the development of market economy. The management organization and management system of enterprises have changed dramatically. The former management thought based on scale and market share is facing great challenge. The financial management goal is gradually from profit maximization. The maximization of scale is transformed into the maximization of enterprise value. The attention of enterprise management is gradually shifted and concentrated on the management of enterprise value. It is undeniable that the promotion of enterprise value has an important impact on the development of economy. However, it has also become the focus of theoretical research. Large accounting firms can provide high-quality audit services is recognized by the society. What kind of impact will the size of the accounting firm have on the value of the enterprise? In addition, different controlling nature of the business environment is also different, in particular, each enterprise is in different legal level, the degree of marketization and other environments. The environment will have a profound impact on the development of enterprises, and then change the value of enterprises. Therefore, whether the correlation between auditor selection and enterprise value is different among listed companies with different controlling rights is also a question worth studying. The empirical data in this paper come from China's state assets from 2012-2015. A-share listed companies in this market. A total of 6734 effective observation samples were selected and analyzed by combining normative and empirical studies with Pearson correlation analysis and OLS multiple linear regression analysis. This paper examines the relationship between auditor selection and firm value and the differences of the correlation between the two in different controlling equity listed companies. The empirical results show that in controlling the size of the company, solvency. After the variables such as growth, auditor selection has positive correlation with enterprise value, and large-scale auditor has better effect on enterprise value promotion. And the correlation between the two companies in different controlling nature of listed companies there are significant differences, auditors to the value of non-state-owned enterprises is better. Robustness test shows. The conclusion of the study is independent of the selection and measurement of variables and has strong reliability. The main innovation of this paper is that we should adopt a new entry point to select auditors. The relationship between the nature of the actual controller and the enterprise value is studied, and the differences between the auditor selection and the enterprise value in the listed companies with different actual controllers are investigated. 2) adopting a new research perspective enriches the research on the influence of auditor selection on the enterprise value under the existing conditions. This paper aims to explore the impact of auditor selection on corporate value through relevant research. On the one hand, it enriches the literature about auditor selection and enterprise value, and provides some suggestions on how to promote the enterprise value better. And can also provide some advice for the government to promote the development of state-owned enterprises, such as further reduce government intervention, and so on.
【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F275;F271;F239.4

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