摘要
本轮新审计报告改革旨在增强审计报告的信息含量和沟通价值,预期会对投资者与债权人提供决策相关的增量信息。研究从银行信贷决策的视角,以2017-2018年我国沪深A股上市公司为研究对象,刻画了改革窗口、关键审计事项特征和新增信息等变量,检验了审计报告改革对上市企业获得新增银行贷款的影响。研究发现:新审计报告改革总体上使得银行对上市企业的新增贷款额显著缩减;新审计报告中所披露关键审计事项的数量与银行新增贷款总额显著负相关;审计报告改革所提供的增量风险信息负面地影响到银行对上市企业的新增贷款。以上审计报告改革的政策效应,在不同产权性质的上市企业之间存在差异。本研究表明,我国的新审计报告改革有利于倒逼审计师贯彻现代风险导向审计,其披露的关键审计事项会通过"风险信号传递效应"和"增量信息效应"影响到商业银行的信贷决策,而新审计报告所提供的增量风险信息是这一作用机制的根本驱动因素。本研究首次揭示了我国新审计报告改革在银行信贷决策行为上的政策效应。
This new round of audit report reform aims to enhance the information content and communication value of audit reports,which is expected to provide investors and creditors with incremental information related to decision-making.From the perspective of bank credit decision-making,this paper uses the data from share listed companies in 2017-2018 as the research object,measures the testing variables such as reform window,characteristics of key audit items(KAMs)and incremental information in KAMs and tests the impact of audit report reform on listed companies’ access to bank loans.The study finds that the new audit report reform reduces the amount of new loans from banks to listed enterprises in general;the number of KAMs disclosed in the new audit report is negatively related to the total amount of new loans from banks;and the incremental risk information provided by the audit report reform has a negative impact on the decision of new loan from banks to listed enterprises.The above effects of the audit report reform are different among listed companies with different property rights.The study finds that the reform of new audit report drives auditors to carry out modern risk-oriented auditing.The KAMs disclosed by auditors will affect the credit decision of bank creditors through"risk signaling effect"and"incremental information effect".The incremental risk information provided by the new audit report is the fundamental driving force of this mechanism.This study reveals the policy effect of the new audit report reform on bank credit decision-making in China for the first time.
作者
涂建明
朱渊媛
TU Jian-ming;ZHU Yuan-yuan(School of Economics and Management,Southeast University,Nanjing 211189,China)
出处
《现代财经（天津财经大学学报）》
CSSCI
北大核心
2019年第11期34-52,共19页
Modern Finance and Economics：Journal of Tianjin University of Finance and Economics
基金
教育部人文社会科学研究规划基金项目（18YJA790073）
中央高校基本科研业务费（22420185L0046）
关键词
审计报告改革
关键审计事项
银行信贷决策
风险信息
audit report reform
key audit matters
bank credit decision-making
risk information
