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有关中国资本市场的研究揭示,微利公司更容易被出具非标准无保留意见,本文通过此类非标准意见的说明段,发现其涉及事项和独立董事关注的公司非正常治理结构明显重合。进一步的检验则揭示,独立董事比例的增加能够提升公司机会主义特征激发非标准审计意见的概率,聘入行业专家型的独立董事则有利于公司的营运能力激发标准的审计意见。结论表明独立董事在规避渎职风险的过程中,通过充分披露信息来避免过高的机会主义阻止成本,和审计鉴证发生了协同效应。
The research on China’s capital market reveals that Moli companies are more likely to be issued non-standard unqualified opinions. Through the paragraphs of such non-standard opinions, this article finds that there is a clear coincidence between the involved issues and the non-normal governance structure of the companies concerned by independent directors. Further tests revealed that the increase of the proportion of independent directors can enhance the probability of opportunistic companies to stimulate non-standard audit opinions, and the recruitment of independent experts of industry experts is conducive to the company’s operating ability to stimulate the standard audit opinion. The conclusion shows that in the process of avoiding the risk of dereliction of duty, the independent directors avoid excessive opportunism to prevent costs by fully disclosing the information, and the synergy effect has occurred between audit and forensics.