【摘要】：“融資難”一直以來都困擾著我國的創(chuàng)業(yè)型中小企業(yè)，2009年10月我國創(chuàng)業(yè)板市場的設(shè)立為這些創(chuàng)業(yè)型企業(yè)提供了融資的平臺，如何成功上市是許多創(chuàng)業(yè)型IPO企業(yè)需要面對的問題。但是創(chuàng)業(yè)型IPO企業(yè)一般不被資本市場所了解，存在著嚴(yán)重的信息不對稱，因此依賴于高質(zhì)量的審計(jì)師對企業(yè)的財(cái)務(wù)信息進(jìn)行鑒證，。因此，我國創(chuàng)業(yè)板公司在IPO時(shí)如何選擇審計(jì)師值得我們?nèi)パ芯俊?企業(yè)對審計(jì)師的選擇實(shí)質(zhì)是對審計(jì)質(zhì)量的選擇，通過對國內(nèi)外相關(guān)文獻(xiàn)進(jìn)行綜述，本文總結(jié)認(rèn)為大規(guī)模的會(huì)計(jì)師事務(wù)所代表著高質(zhì)量的審計(jì)服務(wù)，并將這一結(jié)論作為本文的研究基礎(chǔ)。在對國內(nèi)外有關(guān)審計(jì)師選擇的研究進(jìn)行綜述以后，本文總結(jié)出企業(yè)審計(jì)師選擇的三大動(dòng)因：降低代理成本動(dòng)因、傳遞有利信號動(dòng)因以及保險(xiǎn)動(dòng)因。本文針對這三大動(dòng)因進(jìn)行了理論分析，同時(shí)根據(jù)我國創(chuàng)業(yè)板市場的特殊情況提出三個(gè)其他影響因素，分別是地域因素（ADDRESS）、行業(yè)因素（HY）以及市場化因素（IM），對這些因素進(jìn)行分析以后提出了假設(shè)。 最后選取了2009年至2012在創(chuàng)業(yè)板上市的352家公司作為樣本，，采取了Logistic回歸模型進(jìn)行分析，最終得出以下結(jié)論： （1）本文選取了五個(gè)代表代理成本的變量中只有公司規(guī)模和資產(chǎn)負(fù)債率與高質(zhì)量審計(jì)師選擇存在顯著性關(guān)系，但是對總體模型的貢獻(xiàn)度不高，因此本文認(rèn)為代理理論對我國創(chuàng)業(yè)板IPO市場審計(jì)師選擇行為解釋力不足。 （2）本文選取承銷商聲譽(yù)（UND）這一變量作為信號傳遞因子，發(fā)現(xiàn)承銷商聲譽(yù)與企業(yè)選擇高質(zhì)量審計(jì)師顯著正相關(guān)，說明企業(yè)在選擇審計(jì)師有著向外界傳遞有利信號的動(dòng)機(jī)，信號理論能夠解釋我國創(chuàng)業(yè)板IPO市場審計(jì)師的選擇行為。 （3）本文沒有對審計(jì)師選擇的保險(xiǎn)動(dòng)因進(jìn)行實(shí)證檢驗(yàn)，而是通過理論分析，以及結(jié)合我國的法律環(huán)境和創(chuàng)業(yè)板的現(xiàn)實(shí)情況，得出審計(jì)師選擇的保險(xiǎn)動(dòng)因比較薄弱的結(jié)論。 （4）本文還根據(jù)我國創(chuàng)業(yè)板市場的特殊情況，選取了地域因素（ADDRESS）、行業(yè)因素（HY）以及市場化因素（IM）三個(gè)變量對審計(jì)師的選擇行為進(jìn)行了分析，發(fā)現(xiàn)了地域因素與行業(yè)因素與高質(zhì)量審計(jì)師選擇顯著相關(guān)，而且都模型整體的貢獻(xiàn)度比較大，因此本文得出結(jié)論地域因素和行業(yè)因素是兩個(gè)決定高質(zhì)量審計(jì)師選擇的重要因素。
[Abstract]:"financing difficulty" has been puzzling the entrepreneurial SMEs in our country all the time. In October 2009, the establishment of the gem in our country has provided the financing platform for these entrepreneurial enterprises. How to successfully go public is the problem that many entrepreneurial IPO enterprises have to face. However, entrepreneurial IPO enterprises are not generally known by the capital market, there is serious information asymmetry, so rely on high-quality auditors to verify the financial information of enterprises. Therefore, how to choose auditors in IPO of gem is worth our research. The choice of auditors by enterprises is essentially the choice of audit quality. By summarizing the relevant literature at home and abroad, this paper concludes that large scale accounting firms represent high quality audit services. This conclusion is taken as the basis of this paper. After summarizing the research on auditor selection at home and abroad, this paper summarizes the three motivations of auditor selection: reducing agency cost, transmitting favorable signals and insurance. This paper makes a theoretical analysis of these three motivations, and puts forward three other influencing factors according to the special situation of China's gem market. They are regional factors (ADDRESS), industry factors (HY) and market-oriented factors (IM). Finally, 352 companies listed on the gem from 2009 to 2012 were selected as samples, and logistic regression model was used to analyze them. Finally, the following conclusions are drawn: (1) among the five variables representing agency cost, only the company size, asset-liability ratio and high quality auditor selection have significant relationship, but the contribution to the overall model is not high. Therefore, this paper argues that agency theory has insufficient explanation for auditor selection in gem IPO market. (2) in this paper, underwriter reputation (UND) is chosen as the signaling factor. It is found that the reputation of underwriters is significantly positively correlated with the choice of high-quality auditors, indicating that firms have an incentive to send favorable signals to the outside world. Signal theory can explain the behavior of auditor selection in gem IPO market. (3) this paper does not empirically test the insurance motivation of auditor selection, but through theoretical analysis. Combined with the legal environment of our country and the reality of gem, we draw the conclusion that the insurance motivation of auditor selection is weak. (4) this paper also according to the special situation of gem market in our country. Three variables, regional factor (ADDRESS), industry factor (HY) and market-oriented factor (IM), are selected to analyze auditor selection behavior. It is found that regional factor and industry factor are significantly related to high-quality auditor selection. And the overall contribution of the model is relatively large, so this paper concludes that regional factors and industry factors are two important factors to determine the choice of high-quality auditors.
【學(xué)位授予單位】：杭州電子科技大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.51;F239.22

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