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本文以中国A股上市公司2003-2009年的数据为样本,实证检验了债务期限结构和产品市场竞争两项外部治理机制对审计收费的影响。研究发现在控制其他因素的情况下短期借款比例越高、产品市场竞争越激烈,审计收费越少,这表明短期债务和产品市场竞争提升了公司的治理水平,减少了会计师事务所面临的审计风险,从而降低了审计收费。进一步研究发现债务期限结构和产品市场竞争存在替代效应。本文的结论不仅提供了公司外部治理影响审计收费的实证依据,还为分析公司治理机制提供了一定的政策参考。
Based on the data of China A-share listed companies from 2003 to 2009, this paper empirically tests the impact of the two external governance mechanisms of debt maturity structure and product market competition on audit fees. The research found that the higher the proportion of short-term loans and the fiercer the product market are, the less audit fees are in controlling other factors, which indicates that the short-term debt and product market competition enhance the corporate governance level and reduce the audit risk faced by accounting firms , Thus reducing audit fees. Further study found that the debt maturity structure and product market competition there is a substitution effect. The conclusion of this paper not only provides the empirical evidence that the external governance of the company affects audit fees, but also provides certain policy reference for analyzing the corporate governance mechanism.