【12月16日】【 会计学院学术论坛】The price contagion effects of financial reporting fraud and reputational losses-发布日期：2019-09-12 21:12:44
讲座主题：The price contagion effects of financial reporting fraud and reputational losses: Evidence from the individual audit partner level
摘要：This study investigates the existence of price contagion effects for the low-quality audits of individual audit partners and the associated reputational losses in China. Low-quality partners are identified as those whose clients have been sanctioned by regulators for financial reporting fraud. Our evidence shows that sanctions induce a significant stock price decline among the contagion firms that share common low-quality partners and common low-quality audit firms; however, the decline is greater for the former. We also find that the price contagion effects of low-quality partners are more pronounced for firms located in regions with weak institutional development and less pronounced for state-owned firms. Finally, we find that low-quality audit partners suffer from reputational losses in terms of a higher likelihood of partner turnover and a reduced market share at the partner level.
讲座人简介：王琨，清华大学经济管理学院副教授。南开大学本科、香港科技大学博士。研究领域：资本市场财务与会计，已在《经济研究》，《管理世界》，《南开管理评论》，《中国会计与财务研究》，Journal of Accounting and Public Policy, China Economic Review, China Journal of Accounting Studies等期刊发表多篇学术论文。