新三板企业审计质量与融资效率:声誉视角分析

以新三板企业为研究对象,以会计事务所声誉为视角,建立回归模型,论证会计师事务所审计质量与企业融资效率之间的相关性,结果表明:定增规模较小的企业其融资额度与企业是否由排名前五的事务所审计之间的关系在统计上不显著,定增规模较大的企业其融资额度与企业是否由前五会计事务所审计正相关,并在统计上显著.此外,企业融资额度与企业规模之间的相关性在统计上显著,企业规模越大,企业融资越高,该模型系数在统计上显著;企业融资额度与资产负债率、企业盈利能力之间的相关性在统计上显著,资产负债率越高、企业盈利能力越强,企业融资效率越低,该模型系数在统计上越显著.要提高企业融资效率,应保证财务信息审计质量,注重会计师事务所声誉,促进新三板市场会计信息有效传递.

Audit Quality and Financing Efficiency of the New OTC Enterprises: Reputation Analysis Perspective

This study takes new OTC enterprises as the research object to demonstrate the correlation between audit quality of accounting information and corporate financing efficiency from the perspective of accounting firm reputation.By establishing a regression model,the study finds that,for enterprises of smaller-scale fixed investment,the financing amount are not significantly correlated with the fact whether they are audited by the top five accounting firms or not,while for those of larger-scale fixed investment,the financing amount are positively correlated and statistically significant.It also finds that the correlation between financing amount and the corporate scale are statistically significant:the larger the corporate scale,the higher thc financing amount,and the coefficient of the model is statistically significant.Moreover,the correlation between corporate finance,asset liability ratio and corpo rate profitability are statistically significant:the higher the asset liability ratio,the higher the corporate profitability and the lower the financing efficiency,and the coefficient of the model is statistically significant.To improve the efficiency of corporate finance,the enterprises should ensure the audit quality of accounting information,attach importance to the accounting firm reputation,and promote the effective transfer of accounting information in the new OTC market.