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论文编号：	1227
作者编号：	2120071926
上传时间：	2009/6/11 23:59:32
中文题目：	新审计准则下审计意见的信息含量
英文题目：	Research on the Information Co
指导老师：	张继勋
中文关键字：	信息含量;审计准则;审计意见;累<
英文关键字：	information content;audit opin
中文摘要：	上市公司对外公布的财务报告反映了上市公司的经营成果、财务状况和现金流量，是投资者决策时的重要依据。因此，财务报告信息质量的好坏直接关系到投资者的经济利益。那么，注册会计师对上市公司财务报告发表的审计意见是否能提高财务报表信息的可信度，维护资本市场的运行秩序？ 2006年2月15日，财政部在中国会计审计准则体系发布会上，颁布了48项注册会计师审计准则。新审计准则体系的颁布与实施是否会影响证券市场上的投资者对审计意见的反应？ 基于上述问题，本文在对信号传递理论、审计意见与股票价格相关性的理论分析的基础上，结合新审计准则颁布及实施的背景，运用事件研究法与多元回归分析法对审计意见的信息含量进行了实证分析。研究结论如下：（1）新审计准则颁布实施后，审计意见存在显著的市场反应，因此具有信息含量；（2）新审计准则颁布实施后，与标准无保留审计意见相比，带强调事项段的无保留意见具有显著不同的市场反应，而没有充分的证据显示保留意见和无法表示意见具有显著不同的市场反应；（3）新审计准则实施前后的审计意见具有显著不同的市场反应。最后，本文阐述了研究的局限性及对后续研究的建议。 本文主要有两个创新点：首先，紧密结合我国新审计准则颁布和实施的背景，研究了新审计准则下审计意见市场反应的特征；其次，对于审计意见的市场反应，本文主要关注的是市场反应的强度和时间。
英文摘要：	Financial reports reflect the operating results, financial conditions and cash flows of public listed companies. In capital market, investors make their decisions mainly on the basis of financial reports disclosed by the companies. Therefore, the quality of information included in financial reports is directly related to the interests of investors. Can audit opinions issued by certified public accountants really enhance the credibility of financial reports and keep the capital market in order? On February 15, 2006, the Ministry of Finance in China issued 48 auditing standards. Does the implementation of new auditing standards have influence on the information content of audit opinions? To answer the above two questions, this thesis employs the event study and multiple regression method to study the information content of audit opinions on the basis of theoretical analysis of signal theory and relevance between audit opinions and stock prices. Conclusions are as follows: (1) After the implementation of new auditing standards, audit opinions have significant market reaction; (2) After the implementation of new auditing standards, compared with unqualified audit opinions, only unqualified audit opinions with explanations have significant market reactions. No sufficient evidence shows qualified opinions and denial of opinions have significant market reactions; (3) audit opinions has significantly different market reactions before and after the implementation of new auditing standards. Then, this thesis points out the limitations of this research and improvements for further study. This thesis mainly has two innovations. Firstly, it focuses on the implementation of the new auditing standards and researches the characteristics of market reaction to audit opinions. Secondly, this thesis is concerned about the strength and time of market reaction to audit opinions, rather than the direction.
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