自愿审计、市场反应与公司绩效——基于福建省的数据

将福建省A股上市公司分成自愿审计、强制审计和未审计三个组合，采用事件研究法对这三组上市公司在以半年报公告日为事件日，公告日前后5个和10个交易日为事件窗进行了研究分析，发现自愿审计组合的上市公司的累积超额收益率要明显高于其他两个组合，并进一步由回归模型得出该结论。而通过对上市公司绩效与自愿审计与否关系研究，可得出对于进行中报自愿审计的上市公司，其平均绩效要高于其他组合结论，另外，这些上市公司当年的平均绩效较前一年有明显增长，但是在未来有下降的趋势。

Voluntary Auditing, Market Reaction and Corporate Performance Base on the Data of Fujian Listed Companies

This paper divides all the listed companies of Fujian Province into voluntary audit, compulsory audit and unaudited, and studies the CAR of these companies by event study. We find that the listed companies which belong to the group of voluntary audit have higher CAR than others, and the regression also verifies the result. In the research of relationship between the listed company performance and voluntary audit, we find that the average performance of listed companies choose to voluntary audit is higher than other companies and improves compared to last year, but it has downtrend in the future.