不利审计意见对管理层业绩预告的影响
首发时间:2016-07-22
摘要:基于2006-2014年收到过不利审计意见的上市公司样本,通过比较企业在收到不利审计意见前后不同的会计期间内,业绩预告的精确度、业绩预告及时性及乐观程度(偏差)的变化,研究不利审计意见对管理层业绩预告行为的影响。实证检验发现,与没有收到不利审计意见的公司相比,上一年度收到不利审计意见的公司其下一年的业绩预告精确度会降低,业绩预告的发布越不及时,业绩预告偏差正向偏误程度也会降低。这说明公司在收到不利审计意见后主要受诉讼风险的影响从而选择减少发布盈余信息,不会过分夸大业绩来调高市场预期,其业绩预告政策会更谨慎。
关键词: 会计学 业绩预告 不利审计意见 预告精确度 预告及时性 预告偏差
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Unfavorable Audit Opinion and Management Earnings Forecast
Abstract:Based on a sample of Chinese listed companies which have received unfavorable audit opinion from 2006 to 2014, we examine the impact of unfavorable audit opinion on managers' subsequent earnings forecasts by comparing the change in management earnings forecast specificity, horizon and bias before and after receiving unfavorable audit opinion. Empirical results show that compared to control firms, companies which have received unfavorable audit opinion exhibit a decreased propensity to issue more information in the year earnings forecasts following the event. It has a worse quality with a less precise, less timely and less optimistically biased earning forecast in the following period. Overall, our results suggest that, rather than increasing voluntary disclosure in the form of forecasts, managers tend to exhibit risk-averting forecasting behavior following the unfavorable audit opinion.
Keywords: Accounting Management Earnings Forecasts Unfavorable Audit Opinion Forecast Specificity Forecast Horizon Forecast Bias
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No.4700329621535146****
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