财务、会计seminar第一百三十一期讲座

题目：Corporate Human Capital for Financial Reporting and Audit Fees

演讲者：Zhifeng Yang     Associate Professor

City University of Hong Kong;  Stony Brook University

时间：2016年10月21日（周五）上午 10：00 - 11:30

地点：嘉庚二201

主持人：郑祯 助理教授

参 加 者：对会计、财务研究有兴趣的师生

简介：Financial reporting systems map the underlying economics into financial reports and thus their quality can significantly influence the quality of pre-audited financials. DeFond and Zhang (2014) suggest that the quality of financial reporting systems could affect audit risk and audit efforts but it is often omitted from the empirical models in the auditing literature. This study fills the gap in the auditing literature by empirically showing that the quality of financial reporting systems is significantly negatively correlated with audit fees. We determine the quality of financial reporting systems based on corporate human capital for financial reporting which is measured by the percentage of accounting employees with bachelor degrees. We employ the IV and propensity score matching approaches and the company fixed effect model to mitigate the endogeneity concern and continue to document a significantly negative effect of accounting employees’ education on audit fees. We also find that the effect of accounting employees’ education on audit fees is stronger for companies with more complicated operations or companies which are state-controlled.
http:/uploadfile/2016/1017/20161017092914497.zip