东财•会计与财务论坛2019年第2期(总第87期)

2019年09月17日
【讲座日程】
讲座题目
主讲人
时间
地点
Does Investment Bankers’ Prior Experience in Public Accounting Reduce Earnings Management in IPO Firms?
何贤杰教授
9188:30-10:00
劝学楼245
企业金融化、实体经济市场竞争与资本市场定价效率
彭博
博士
91810:10-11:10
劝学楼245
中国情境下会计与资本市场研究的一些探索与思考
何贤杰教授
91814:30-16:00
博学楼212
 
【内容摘要】
We examine whether firms undertaking an initial public offering (IPO) exhibit less earnings management when individual investment bankers have prior experience in public accounting. Although auditors are primarily responsible for providing external monitoring of the financial reporting process, individual bankers also have strong incentives to improve accounting quality in firms going public. In exploiting unique disclosures of bankers’ identities and characteristics in China, our analysis indicates that individual bankers with early-career experience as auditors constrain issuer firms’ earnings management through both accruals and real activities. Consistent with expectations, this evidence is more pronounced if the audit firm that formerly employed the banker is larger; has expertise in the IPO firm’s industry; is permitted to audit listed companies; and was previously subject to a regulatory sanction. Collectively, our analysis implies that public accounting experience is valuable for financial intermediaries, particularly when this experience stems from working at a high-quality audit firm.
【主讲人简介】
何贤杰,上海财经大学会计学院教授、博士生导师。近年来主要从事中国情境下的会计与资本市场研究,特别是会计准则以及审计师、保荐人等重要资本市场参与者的研究。研究论文发表于The Accounting ReviewJournal of Accounting ResearchContemporary Accounting ResearchJournal of Financial and Quantitative Analysis、《管理世界》、《会计研究》等国内外顶级学术期刊。研究成果被The Economist, The Wall Street Journal, Financial Times等引用和报导。
 
东北财经大学会计学院
中国内部控制研究中心
2019916
 
                    撰稿:于悦  宋淑琴                     审核:方红星 刘行