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The Empirical Study of the Relationship of Audit Opinion and Bank Loan

Author: FanShuHong
Tutor: ChenLiJun
School: Xinjiang University of Finance and Economics
Course: Accounting
Keywords: Audit opinion Information content Bank lending decisions
CLC: F832.2
Type: Master's thesis
Year: 2009
Downloads: 111
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Abstract


In a high degree of specialization in the economic and social, economic agents depend on each other, you need to trust each other and communicate this trust and communication needs the support of the information, but the the information asymmetry economic and social, the reliability of information is more important. Audit as a mechanism for monitoring and forensic economic activity, has a very important significance in the process of economic agents to communicate. Audit opinion, is a certified public accountant in accordance with the provisions of the auditing standards in the implementation of the audit work on the basis of written documents express an audit opinion on the financial statements of the audited units, is the most concentrated expression of certified public accountants audit the results of the work, written document that accounting quality therefore audit may be a crucial impact on the main decision-making on economic. Research on the audit opinion in two directions, one is based on the research of the securities market, mainly on the audit opinion on the impact on the stock price, the audit opinion \more in-depth research; second is based on the decision of the bank credit, examine the audit opinion on the bank borrowing decisions, that the audit opinion information content in bank credit decisions, \The little research. Therefore, we decided to select the point of view of debt capital to study the decision-making role in the decision-making of China's bank loans and usefulness of the audit opinion. This article first two clues along the portfolio investment and bank loans, respectively, on the domestic and foreign research on the information content of the audit opinion, a review of the literature on the basis of the literature review, two hypotheses put forward in this article. Empirical research, this paper use based on the experience of China's securities market research, visits from the debt capital point of view, the use of publicly available data of the listed companies test the proposed two hypotheses. Most of the data used to test the hypothesis from the GTA database, part of the data collected by hand. This paper studies found that, other things being equal, the audit opinion becomes standard audit opinion on the company than the audit opinion by the standard audit opinion to the company of non-standard audit opinion by the non-standard audit opinion easier access to bank loans. The paper also found that the modified audit opinions to the standard audit opinion company, bank borrowings and changes in audit opinion from the \Robustness test and then the results of empirical research, found that the sensitivity analysis results with empirical results are consistent with empirical research results are robust. Finally, on the basis of empirical research, the limitations of this study and future research directions.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Banking system and business
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