Research On The Influence Of Female Appraisers On The Quality Of Asset Appraisal

The issue of asset valuation quality is a common concern in socio-economic activities related to asset transactions.The evaluation report of the highest quality has important reference significance for assisting the decision-making of mergers and acquisitions and the smooth progress of M&A(Mergers and Acquisitions)transactions.A large number of scholars have invested in the research on the quality of asset assessment.By analyzing the influencing factors of asset assessment quality,we hope to find ways to improve the quality of asset assessment,such as improving the market environment,strengthening legal norms,controlling the assessment process,and improving the technical level,improve moral literacy and so on.However,the fundamental subject of the evaluation work process is the asset appraiser.The personal characteristics of the appraisers,such as experience,education,and professional quality,have an impact on the quality of asset evaluation.However,among the individual characteristics of the appraisers,the influence of gender on the quality of the assessment is less in the literature.This paper aims to use the M&A transaction data to study the relationship between female appraisers and the quality of asset evaluation.The evaluation items of M&A and restructuring transactions of listed companies in 2014-2016 were selected as the research object,and the quality of asset evaluation was used as the dependent variable,and the number of female appraisers was used as the explanatory variable.Based on the financial characteristics of the evaluated units,the characteristics of the evaluation institutions,and the characteristics of the appraisers and working years,a multivariate regression model was established to explore the correlation between the female appraisers and the quality of asset evaluation.The study found that: First,female appraisers have a positive correlation with the quality of asset assessment.Second,female appraisers in low-reputation assessment agencies are more likely to have an impact on the quality of asset valuation than high-reputation assessment agencies.Third,experienced female appraisers have a positive impact on the quality of asset evaluation,that is,the more experienced female appraisers,the higher the quality of their asset evaluation.The main innovations in this paper have two aspects: First,redefining the quality of asset valuation.This paper analyzes the reference value of the asset evaluation report in the M&A and restructuring business,and defines the asset evaluation quality as the application value of the asset evaluation result in the actual transaction.The higher application efficiency of the asset assessment results,the better the asset assessment quality;on the contrary,the lower the application efficiency of the asset assessment results,the worse the asset assessment quality.Second,the factors affecting the quality of asset valuation are studied from a new perspective.This paper explores the relationship between female appraisers and asset assessment quality from the perspective of asset appraisers,and studies the impact of appraisers' gender on assessment quality.