Government subsidy is a key area of accounting supervision.When causing information asymmetry between principals and agents,increasing the guarantee costs for agents due to their own risks and increasing residual losses,government subsidies may result in an increase in enterprises'agency costs,which in turn directly affects enterprises'audit fees.By taking the A-share listed companies in Shanghai and Shenzhen stock markets from 2007 to 2022 as research samples,this study empirically tests the impact of government subsidies on corporate audit fees.The research results indicate that government subsidies significantly increase enterprises'audit fees,and such an enhancing effect is weaker in state-owned enterprises,the enterprises located in highly market-oriented areas,the enterprises audited by the"Big Four"international audit institutions,and the enterprises with high analyst attention.Government subsidies increase enterprises'audit fees through increasing their agency costs.Government subsidies increasing enterprises'audit fees comes not only from the increase in auditor audits,but also from the risk premium generated by auditors'facing greater audit risks.
关键词
政府补助/审计费用/审计风险/代理成本
Key words
government subsidy/audit fee/audit risk/agency cost
维普
万方数据