主题： Investor Sentiment and Audit Quality

　　时间：2017年04月17日上午9：40-11：00

　　地点：C273

　　主讲人：周楷唐，博士研究生

　　主讲人单位：北京大学光华管理学院

　　主办单位：betway必威经管学院会计系、MPAcc中心和财务会计研究所

　　论文摘要：This paper examines the effect of investor sentiment on audit quality. Our analysis is made possible by employing unique datasets of audit adjustments and audit hours in China. We find that, when investor sentiment is high, auditors are less likely to issue unclean audit opinions and firms are associated with lower level of earnings quality. Higher investor sentiment also leads to less frequency of audit adjustments and larger reduction in audit hours but auditors charge higher audit fees. These effects are less pronounced when the auditor firm size is large and the litigation risk is high, and more pronounced when clients are important and investors are optimistic. Our main results can be generalized to the U.S. setting. Taken together, our results suggest that auditor independence and thus audit quality are affected by non-fundamental valuations.

　　主讲人简介：北京大学光华管理学院博士研究生，硕士本科毕业于betway必威会计系。研究方向是资本市场财务与会计、审计，已在《会计研究》、CJAS发表论文多篇，并有多篇工作论文在《Accounting Review》、《Journal of Corporate Finance》与《经济研究》外审。