On the relationship between enterprise internationalization and the quality of financial reporting——Based on the empirical evidence of listed manufacturing enterprises in China
Taking listed manufacturing enterprises in China from 2014 to 2018 as a sample,the article empirically analyzes the impact of different stages of enterprise internationalization on financial reporting quality by using a fixed-effect model,and further tests the moderating role of external audit quality.The results show that the degree of internationalization has a signifi-cant U-shaped relationship with surplus management.Higher audit fees do not inhibit surplus management in the early stage of internationalization,but rather contribute to surplus management in the late stage of internationalization;audits by large account-ing firms and higher-quality audit opinions significantly inhibit surplus management in the late stage of internationalization,while neither of them significantly inhibits surplus management in the early stage of internationalization.This has implications for the government to strengthen regulation and for internationalized firms to improve the quality of financial reporting.
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