Based on the data of China's A-share listed companies from 2012 to 2022,this paper investigates the impact of social security fund on audit fees of listed companies.It is found that social security fund can significantly reduce corporate audit fees.Further research finds that social security fund reduces audit fees to a greater extent compared with other institutional investors.The above conclusions vary depending on the characteristics of regions and enterprises,and are more significant in regions with a high degree of marketization,high-tech industry enterprises,and state-owned enterprises.The mechanism test shows that social security fund can reduce audit fees by improving the quality of internal control,increasing the number of securities analysts tracked and the number of field research by institutional investors.This paper enriches the research related to the economic consequences of institutional investors and the factors affecting audit fees.
关键词
社保基金持股/审计收费/外部治理/内部控制
Key words
social security fund/audit fees/external governance/internal control
维普
万方数据