科学研究
报告题目：Green Transition and Information Verification Cost
报告人：钟覃琳
报告时间：2023年4月7日（周五）13:30-15:00
报告地点：腾讯会议（会议ID：803 239 593）
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
This paper examines whether and how the green transition affects the information verification cost of firms in the high polluting industries. Utilizing the implementation of the Green Audit of Outgoing Officials (GAOO) policy in China, we find that audit fees of firms in the high polluting industries significantly decrease when the economy transits toward green. We provide supporting evidence for two channels: (1) Auditors rely on heightened governmental monitoring and reduce audit efforts, for a certain level of evidence; (2) Firms in high polluting industries improve environmental performance which leads to lower client risks, thus allowing for less audit evidence. Additional analysis shows that reduced audit fee was not accompanied by the deterioration in audit quality. Overall, our paper indicates that the green transition can reduce the information verification cost and facilitate information process, suggesting that the economic development model has a fundamental influence on the financial market. Our results are consistent with the growth-led finance hypothesis and contributes to the growth-finance nexus theory.
【报告人简介】
钟覃琳，复旦大学管理学院副教授，博士毕业于北京大学。研究方向主要为信息披露、公司治理。研究成果发表于Journal of Accounting and Economics、Contemporary Accounting Research、Accounting and Finance、China Journal of Accounting Research及《管理科学学报》《管理世界》《会计研究》《金融研究》等国内外重要学术期刊。
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