Research On The Heterogeneity Of Ultimate Controller,the Degree Of Marketization And The Quality Of Audit

The research on audit quality of listed companies has always been a hot spot between the theoretical and practical circles at home and abroad.High audit quality is an important guarantee for standardizing corporate behavior,improving the quality of accounting information disclosure,easing the agency problem and promoting the healthy development of capital market.At present,the research on influencing factors of audit quality is mainly focused on accounting firms as audit providers,as well as governance and corporate characteristics of listed companies as audit requirements.We need to start from the basic situation of listed companies,go back to the ultimate controller of listed companies,deepen the essence of ultimate shareholding equity,and explore the influence of the heterogeneity of ultimate controller,capital attribute,political identity and control right on audit quality.Due to the economic activity of the enterprise in a certain market environment,enterprise management,financial activities are affected by external market,legal environment,political environment,cultural environment,for China is in the important period of economic transformation,the difference degree of marketization will produce different influence on company audit quality,further the relationship between ultimate controller heterogeneity and audit quality will have different effects.This paper reviews the related literature at home and abroad,reviews the related research status at home and abroad,and the ultimate control of the capital property,political identity and control level of the three kinds of heterogeneity made the definition of the concept,based on the principal-agent theory,resource dependence theory,corporate reputation theory,signal transmission theory and entrenchment theory,the relationship between the ultimate controller these three kinds of heterogeneity and audit quality is expounded,and the relationship between the market and the degree of audit quality,and the degree of marketization of the relationship between the ultimate control and audit quality,the influence of the theory,put forward the hypothesis.In this paper,we take the Shanghai and Shenzhen A share listed companies in 2012-2016 as samples,and use descriptive statistics,correlation analysis and multiple linear regression to conduct empirical tests.The results show that:(1)compared with non-state-owned listed company,the higher the ultimate controllers of listed companies for the state-owned capital property audit quality;relative to the ultimate controller does not have the political status of the listed companies,the higher the ultimate controller has the political identity of the listed company audit quality;compared with the low control listed the company,the higher the control right of the ultimate controller of the high quality of the audit of listed companies.(2)the higher the degree of marketization in the region,the higher the audit quality of the listed companies.(3)the higher the degree of marketization,the more significant the positive effect of the three heterogeneity of the ultimate controller to the audit quality.Based on the above conclusions,this paper puts forward the following policy recommendations: improving the governance structure and internal control of listed companies,strengthening reputation mechanism,establishing effective external market supervision,continuing market reform and accelerating the process of regional marketization.