Auditor Choice,the Nature Of Actual Controller And Enterprise Value

Modern financial management theory holds that the goal of enterprise financial management is to create and maximize the value of enterprises.However,the objectives of the stakeholders are not entirely consistent with the financial management objectives of the enterprise.How to correct the behavior deviation of each interested party and realize the maximization of enterprise value has become the focus of the theorists and practitioners.At present,the research on the influencing factors of enterprise value is also the focus of theoretical research.As an important corporate governance mechanism,independent audit can affect enterprise value through the choice of different characteristics of auditors,and it is a question worth discussing.In the context of the implementation of the strategy of "bigger and stronger" in China's accounting firms,does large-scale accounting firms,as the provider of high-quality audit services,have a direct impact on enterprise value?In addition,the company is different from the nature of the controlling shareholder has a competitive environment for the development of different areas,such as the degree of marketization,different legal level will have a certain impact on the enterprise,and these effects are reflected in the final value of enterprises,so the relevant degree of auditor choice and corporate value in Listed Companies in different the nature of the controlling shareholder whether a topic difference is worthy of study.In this paper,empirical data from China's capital market A shares of listed companies during 2012-2015 were selected XX effective observation samples,using the method of normative research and empirical research,through descriptive statistical analysis,Pearson correlation analysis and OLS regression analysis,tests the relationship between auditor choice and enterprise value of listed companies and the difference in whether listed companies in the different nature of the controlling shareholder.The empirical results show that the control of the company scale,solvency,growth and other variables,correlation between auditor choice and enterprise value is positive,and the degree of correlation between the two listed companies in the different nature of the controlling shareholder has significant difference.The robustness test shows that the conclusion of the study does not depend on the selection and measurement of variables,and has strong reliability.The main innovation of this paper is:(1)to a new starting point,on the auditor selection,the nature of enterprise and corporate value of the three related research,examines the degree of auditor choice and corporate value in Listed Companies in the different nature of the actual controller difference;(2)adopt a new perspective,rich the existing condition of Auditor Selection influence on enterprise value,provides incremental data for study.The research of this paper focus on the influence of auditor choice on enterprise value and find out the correlation between them.On the one hand,enrich the auditor choice and enterprise value of related literature,provides some suggestions for how to improve the enterprise value,and can also provide some advice for the government to promote the development of state-owned enterprises,for example,further reducing the cost of government intervention.