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受中国制度环境的约束,融资问题一直是家族企业发展过程中所遭遇的困扰和难题之一。在金融机构主导企业债务融资的背景下,中国家族企业的融资决策对外部审计有怎样的需求?本文从宏观和微观两方面考察中国家族企业融资决策对审计的需求。研究发现,债务期限结构对家族企业外部审计需求起到了决定性的作用,家族企业债务期限越长,其对外部审计质量的需求也越高。与此同时,机会不平等对家族企业审计需求的影响也至关重要,金融发展程度越高的地区,家族企业获得银行贷款需要越高的审计质量。此外,盈利能力、信息透明度和政治关联在一定程度上降低了家族企业融资决策对审计的需求。
Constrained by the institutional environment in China, financing has always been one of the problems and problems encountered in the development of family-owned enterprises. Under the background of financial institutions leading corporate debt financing, what are the requirements of Chinese family-owned financing decision-making for external auditing? This paper examines the audit needs of Chinese family-owned enterprise financing decision-making from macro and micro perspectives. The study found that debt maturity structure played a decisive role in the external audit needs of family-owned enterprises. The longer the debt maturity of family-owned enterprises, the higher the demand for external audit quality. In the meantime, the impact of inequality of opportunity on the audit needs of family-owned enterprises is also crucial. In areas with a higher degree of financial development, the higher the quality of audits required for family businesses to obtain bank loans. In addition, profitability, information transparency and political connections have reduced the need for auditing of family business financing decisions to a certain extent.