Does audit quality affect firms' investment efficiency?

被引：45

作者：

Boubaker, Sabri ^{[1
,2
]}

Houcine, Asma ^{[3
,4
]}

Ftiti, Zied ^{[5
]}

Masri, Hatem ^{[6
]}

机构：

[1] South Champagne Business Sch, Troyes, France

[2] Univ Paris Est, IRG, Creteil, France

[3] Emirates Coll Technol, Abu Dhabi, U Arab Emirates

[4] Univ Tunis, ESSECT, Tunis, Tunisia

[5] EDC Paris Business Sch, OCRE Lab, Paris, France

[6] Univ Bahrain, Coll Business, Sakhir, Bahrain

来源：

JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY | 2018年 / 69卷 / 10期

关键词：

Audit quality; audit expertise; Big; 4; investment efficiency; FINANCIAL-REPORTING QUALITY; INDUSTRY SPECIALIZATION; CORPORATE GOVERNANCE; EARNINGS QUALITY; DEA MODELS; INFORMATION; DISCLOSURE; MANAGEMENT; EXPERTISE; ACCRUALS;

D O I：

10.1080/01605682.2018.1489357

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This study investigates the effect of audit quality on firm investment efficiency for 125 French-listed companies over 2008-2015. It uses parametric and non-parametric measures of firm investment efficiency, based on residuals extracted from the investment efficiency model and the data envelopment analysis (DEA) approach, respectively, to assess whether audit quality improves investment inefficiency. It analyses this relationship after distinguishing between firms that under-invest and those that over-invest. The results show that investment inefficiency decreases with audit quality. Specifically, auditor knowledge leads to less investment in firms prone to over-investment and more investment in firms prone to under-investment. This relationship appears to be independent of a firm's financial reporting quality, which indicates that auditors provide value-added services that impact the investment decisions of firm managers, separately from the quality of accounting information.

引用

页码：1688 / 1699

页数：12

共 50 条

[31] Does corporate investment efficiency affect corporate disclosure practices?
Elberry, Noha
Hussainey, Khaled
[J]. JOURNAL OF APPLIED ACCOUNTING RESEARCH, 2020, 21 (02) : 309 - 327
[32] Does supply network location affect corporate investment efficiency?
Shi Jinyan
Yang, Jianheng
Li, Yanxi
[J]. RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2020, 51
[33] How does energy policy affect firms' outward foreign direct investment: An explanation based on investment motivation and firms' performance
Zhang, Dongyang
Kong, Qunxi
[J]. ENERGY POLICY, 2021, 158
[34] Does executives' overseas experience improve firms' labor investment efficiency?
Li, Wenfei
Rong, Manlin
Wu, Jing
[J]. CHINA JOURNAL OF ACCOUNTING RESEARCH, 2023, 16 (04)
[35] How Do Higher Educated Employees Affect Firms' Investment Efficiency in China?
Chen, Taoqin
Zhou, Lu
Lv, Kangjuan
[J]. EMERGING MARKETS FINANCE AND TRADE, 2023, 59 (11) : 3610 - 3635
[36] How Do Internal Control and Market Competition Affect the Investment Efficiency of Firms?
Wang Yu
[J]. PROCEEDINGS OF THE THIRD INTERNATIONAL SYMPOSIUM - MANAGEMENT, INNOVATION & DEVELOPMENT, BKS ONE & TWO, 2016, : 1041 - 1046
[37] Do Clients' Enterprise Systems Affect Audit Quality and Efficiency?
Pincus, Morton
Tian, Feng
Wellmeyer, Patricia
Xu, Sean Xin
[J]. CONTEMPORARY ACCOUNTING RESEARCH, 2017, 34 (04) : 1975 - 2021
[38] Does short selling affect the investment of Chinese firms? An external financing perspective
Wang, Leixi
Zou, Huiwen
Li, Xiaoyong
[J]. ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS, 2022, 29 (03) : 649 - 672
[39] How Does Foreign Direct Investment Affect the Export Decisions of Firms in Ghana?
Abor, Joshua
Adjasi, Charles K. D.
Hayford, Mac-Clara
[J]. AFRICAN DEVELOPMENT REVIEW-REVUE AFRICAINE DE DEVELOPPEMENT, 2008, 20 (03): : 446 - 465
[40] Does the stock market affect investment by Chinese firms? Some new evidence
Xiao, Feng
[J]. INTERNATIONAL REVIEW OF APPLIED ECONOMICS, 2009, 23 (02) : 197 - 213

← 1 2 3 4 5 →