盈余管理与审计意见相关性实证研究

1121998208090123610055102752901992-199319961998199933KatherineSchipper1989disclosuremanagement2000William,R.S.19971999William,R.S.3454519981996199773.16%5.26%419986L·L,198620DeAngelo,L.(1981)21.58%Eli,B.Ferdinand,A.G.Judy,S.L.T.(1998)6519991999Judy,S.L.T.Ferdinand,A.G.(1996)M.Jensen(1985)freecashflow(M.JensenW.Meckling,1976)Eli,B.Ferdinand,A.G.Judy,S.L.T.(1998)2090906199919981999199971.19981231A852151981001818141128236(1)(2)CPA(3)CPA(4)(5)CPA(6)?8981281Bao,B.Chen,G.(1998)()29872041362726249232222222221201220256982.1()T2Subramanyam,K.R.(1996)Eli,B.Ferdinand,A.G.Judy,S.L.T.(1998)Dechow,P.M.,Richard,G.S.Amy,P.S.(1995)1998()()()()()1413121111-----++Δ-Δ+=ttttttttttaaaaAIAAPPEARECREVAANDA171999.710tNDA1-tAτ-1tREVΔ-1tRECΔ-1tPPEtIA1a2a3a4a()()()()()tttttttttttxaaaa+++Δ-Δ+=-----1413121111AIAAPPEARECREVAATA2tTAtx()1-tAtREVΔtRECΔtPPEtIAtTAEarnings-CFOEarningsCFOEarnings98CFOtTA3(1)(2)11111----==tttttttxANDAATAADA1-ttADAtTA1-ttANDA(1)(1-ttADA)T4AuditAudit1Audit0Auditabs(1-ttADA)(abs)LogitAudit10bb+(abs(1-ttADA))+x30b1bx1b(5)Logit(6)Bao,B.Chen,G.12LogitAudit10bb+(abs(1-ttADA))()()()xttt++++CYLbROAbFLb4324tFLtROAtCYL1()0()1b3.98()SPSS131999199619981.T12()1128128-1.842.101.576.06-50.43-21.3520.9721.3213.377.4712812851.0946.8252.5449.286.788.54123.9085.8622.2816.92(=0,=1)1281280.520.521100110.500.50(=0,=1)1281280.320.230000110.470.43142TtP-2.9120.004-3.941.7280.0854.270101.5370.1260.092.332R2R2RTF3.733P0.006(tPPE)(tIA)(tREVΔ-tRECΔ)tp3tp2R2RFP11-tA107530222.4070.01715()1-Δ-ΔtttARECREV-0.078-2.7190.0071-ttAPPE-0.033-1.7880.0751-ttAIA-0.140-1.3600.1750.0560.0413.7330.00623.45T41280.1010.0690.0000.4410.093Abs(1-ttATA)1280.0710.0560.0000.2500.0565TtpAbs(1-ttATA)3.0780.0020.030T45(0.101)(0.071)T0.011667T670.0161280.0990.0620.0000.3700.089Abs(1-ttADA)1280.0700.0590.0000.2410.0547TtpAbs(1-ttADA)3.1450.0020.029t8pp0b-0.4595.5080.0192561b5.5549.0130.0039.9240.00231788Abs(1-ttADA)1b0.054.9pp0b-0.6323.7520.053841b7.6605.3130.0206.6240.0100b-0.3532.0550.1521721b4.3903.7220.0543.9300.047391b(3.27)p95%0.054185.10pp0b-0.2840.3590.5491b4.2474.2500.0392b0.0020.1030.7553b-0.0433.0740.0804b-0.5971.5350.21514.6060.006Logit4101b4.2475%199817.84%93-967.1%9712.62%119981998232019931996.1999.....1998....1.113146..1998.ROE.(..90100..1998.....1999....1999....1998....1999...L·L.1986..1..2000..1.Bao,B.andChen,G.(1998),‘AuditQualificationsPredictionUsingAccountingandMarketVariables:TheCaseofChineseListedCompanies’(WorkingPaper).21DeAngelo,L.,(1981),“AuditorSizeandAuditorQuality”,JournalofAccountingandEconomics1:113-127.Dechow,P.M.,Richard,G.S.,andAmy,P.S.,(1995),‘DetectingEarningsManagement’,TheAccountingReview(April):193-225.Defond,M.L.andJiambalvo.(1994),‘DebtCovenantViolationandManipulationofAccruals’,JournalofAccountingandEconomics17:145-176.Eli,B.,Ferdinand,A.G.,andJudy,S.L.T.(1998),‘DiscretionaryAccrualsModelsandAuditQualifications’(WorkingPaper)Guay,W.,Kothari,S.P.andR.L.Watts.(1996),‘AMarket-BasedEvaluationofDiscretionaryAccrualModels’,JournalofAccountingResearch34(Supplement):83-105.Jones,J.,(1991),‘EarningsManagementDuringImportReliefInvestigations’,JournalofAccountingResearch29:193-228.Judy,S.L.T.andFerdinand,A.G.,(1996),‘ATestoftheFreeCashFlowandDebtMonitoringHypotheses:EvidencefromAuditPricing’(WorkingPaper).M.Jensen,(1986),‘AgencyCostsofFreeCashFlow,CorporateFinanceandTakeovers’,AmericanEconomicReview76:323-329.M.JensenandW.Meckling,(1976),‘TheoryofFirm:ManagerialBehavior,AgencyCostsandOwnershipStructure’,JournalofFinancialEconomics3:305-360.Subramanyam,K.R.,(1996),‘ThePricingofDiscretionaryAccruals’,JournalofAccountingandEconomics22:249-282.Scott,W.R.(1997),FinancialAccountingTheory,UpperSaddleRiver,NJ:Prentice-HallInc.22