Research On The Impact Of Audit Opinions On Commercial Credit

Commercial credit is one of the short-term financing methods for enterprises,and plays an important role in the business activities of enterprises.However,the supplier and seller provide commercial credit to the enterprise,and will bear credit risks such as delayed payment collection and bad debt loss.When making business credit decisions,suppliers and sellers often have a deep understanding of the financial and operating conditions of the trading company,make judgments on the credit status of the trading company,and avoid credit risks and bad debt losses as much as possible.As an external monitoring method,the audit opinion can transmit the financial management signal of the enterprise and reduce the information asymmetry between the enterprise and the supplier.The supplier and seller will formulate the corresponding business credit policy based on the audit opinion issued by the enterprise,thereby affecting the enterprise The available commercial credit cost and scale.This article will further explore the relationship between audit opinions and commercial credit,and enrich the research results in this field.Based on the types and functions of audit opinions and the motivation theory of commercial credit,this paper first discusses the process of audit opinions affecting commercial credit based on signal transmission theory and information asymmetry theory,and proposes the impact results,that is,audit opinions affect both cost and scale Commercial credit.Second,from the perspective of the trust mechanism,analyze the role played by the institutional environment in the relationship between audit opinions and commercial credit.After that,based on the differences in bargaining power,trust level,and credit rationing characteristics of enterprises with different market positions,the role of market position in the relationship between audit opinions and commercial credit is analyzed.Based on theoretical analysis,this paper proposes assumptions,builds a model,selects the Shanghai-Shenzhen A-share companies of listed companies from 2014 to 2018 as samples,and conducts data analysis and testing through Eviews.The results of the study show that the audit opinion will affect the business credit decision of the supplier to the enterprise.Specifically,the non-standard audit opinion has a positive correlation with the cost of commercial credit and a negative correlation with the scale of commercial credit;a good institutional environment can weaken the non-standard The negative impact of audit opinions on the cost and scale of commercial credit is because the institutional environment functions as a trust mechanism;a high market position can weaken the positive correlation between non-standard audit opinions and commercial credit costs.Strong bargaining power makes it easier to gain the trust of suppliers.However,the high market position cannot weaken the negative impact of non-standard audit opinions on the scale of commercial credit.This may be due to differences in the credit rationing characteristics of companies with different market positions.According to the research results,this article puts forward suggestions on further exerting the supervisory role of audit opinions,improving the overall sense of trust in society,improving the system construction,and improving the level of commercial credit management.