摘要
选取我国2007—2016年沪深A股上市公司数据,实证检验了审计行业专长对股价暴跌风险的影响。研究结果表明:审计行业专长与股价暴跌风险呈显著负相关关系,即审计行业专长有助于降低股价暴跌风险。进一步研究发现,在内部控制水平较高的公司中,审计行业专长与股价暴跌风险呈更加显著的负相关关系。
Based on the data of all A-share listed companies in Shanghai and Shenzhen Stock Exchange from 2007 to 2016,this paper empirically tests the impact of audit industry expertise on the stock price crash risk in China. The results show that: the audit industry specialization has a significantly negative correlation with the stock price crash risk,that is,the audit industry expertise helps to reduce the stock price crash risk. Further research shows that in the companies with higher internal control level,the audit industry expertise has a more significantly negative correlation with stock price crash risk. The conclusion of this paper enriches the study of factors influence the stock price crash risk and the economic consequences of the audit industry expertise. It is important significance to ease China 's capital market stock price crash risk,and realize the smooth operation of the capital markets.
出处
《兰州财经大学学报》
2017年第6期76-87,共12页
Journal of Lanzhou University of Finance and Economics
基金
安徽财经大学与铜陵学院联合培养研究生科研创新基金"生命周期视角下民营企业内部审计治理效应研究"(2016tlxylhy03)
关键词
审计行业专长
内部控制
股价暴跌
市场风险
audit industry expertise
internal control
plummeting
stock prices
markec risk
