Environmental Pollution Liability Insurance and Enterprises' Demand for High-quality Audit——Empirical evidence from the perspective of insurance company supervision
In the context of green,high-quality development,promoting the environmental pollution liability insurance is of great significance in strengthening the fulfillment of enterprises environmental protection responsibilities and reducing the operational risk of enterprises caused by environmental penalties.This paper empirically tests the impact of environmental pollution liability insurance on the enterprises'demand for high-quality auditing from the perspective of external supervision by insurance companies.The research finds that the environmental pollution liability insurance enhances the demand for high-quality audit among insured enterprises,and it is achieved through the demand for high-quality information and the professional competence supervision by insurance companies.The heterogeneity test finds that in enterprises that are state-owned,or with low internal control level or a high number of negative media reports,environmental pollution liability insurance shows a more significant impact on the demand for high-quality audit.The economic consequence test indicates that insurance companies improved the environmental performance by increasing the demand for high-quality audit.The research has important policy implications for enhancing the capital market audit system and the development of environmental pollution liability insurance.
external supervisioninsurance companiesenvironmental pollution liability insurancedemand for high-quality audit
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