Audit Quality And Transfer In National Equities Exchange And Quotations

Since December 31,2013,the NEEQ has officially started to receive listing applications nationwide.Since 2016,China's NEEQ market has also witnessed a trend of delisting on the NEEQ and transferring to a-shares through IPO.Until February 26,2019,a total of 56 companies listed on the NEEQ have been"transferred"to the stock market after delisting,and a steady stream of NEEQ enterprises are receiving listing guidance.Due to the requirements of NEEQ,NEEQ companies must disclose their annual reports and semi-annual reports during listing.Therefore,NEEQ enterprises will have more and more comprehensive public information for investors and regulators to view and analyze before they move to the main board,which is also different from those listed in the a-share market.The existing studies have the following shortcomings:through literature review,it is found that few domestic scholars have studied the relationship between audit quality and transfer of NEEQ enterprises.First,there is little research on audit quality on the transfer of NEEQ enterprises.Only a few scholars have demonstrated the system construction of transfer of NEEQ and the laws involved in transfer,which do not involve audit quality.Second,most of the studies of scholars in the field of audit quality focus on the influencing factors of audit quality or the alternative indexes of audit quality,and there are few empirical studies on the influence of transfer of NEEQ companies.Therefore,the research questions in this paper include the following aspects:(1)In the domestic market at the present stage,does the audit quality during the listing of the new third board have an impact on the"transfer n of NEEQ?(2)What will be the impact of the audit quality during the listing period of NEEQ on the"board transfer"of NEEQ enterprises by the international"big four"accounting firms or the domestic "big ten"accounting firms?(3)What will be the impact of the audit quality during the listing period of NEEQ on the"transfer" of NEEQ enterprises by accounting firms with industry expertise?Considering new three board market by the end of 2013 to receive on application to the nation,this article selects companies which transfer from the NEEQ to the Main Board,Small and Medium-sized Board,the GEM listed companies during 2014-2018 as research samples,with binary choice to build model,explore during the impact that the audit quality listing on the new third board imposed on the NEEQ.Conclusions:(1)there is a significant correlation between the audit quality during listing on NEEQ and the transfer of NEEQ.(2)the impact of audit quality during listing on the NEEQ on transfer enterprises is more obvious in the enterprises audited by international "big four"accounting firms and domestic"big ten"accounting firms.(3)the influence of audit quality during listing on the NEEQ on transfer enterprises is more obvious among the enterprises audited by accounting firms with industry expertise.