Environmental Accountability Risks and Audit Fees of Heavily-polluting Enterprises——A quasi-natural experimental study based on the central environmental protection inspectorate
Taking A-share listed manufacturing enterprises in China from 2008 to 2017 as samples and the central environmental protection inspection tours as a quasi-natural experiment,this study makes heavily-polluting manufacturing enterprises as the experimental group and non-heavily-polluting manufacturing enterprises as the control group,and constructs a multi-period difference-in-differences model to test the impact of environmental accountability on the auditing fees of heavily-polluting enterprises.The study finds that environmental accountability significantly reduces the audit cost of heavily-polluting enterprises.The mechanism test finds that environmental accountability reduces the audit cost of heavily-polluting enterprises by improving the level of green governance,quality of accounting information,and reliability of management tone of heavily-polluting enterprises;the heterogeneity test finds that in enterprises with strong government-enterprise connection,low level of risk-taking,and high public environmental concern in the region,the impact of environmental accountability on audit cost of heavily-polluting enterprises is more significant.This study expands the research on the micro-consequences of the central environmental protection inspection,and provides theoretical and decision-making basis for regulating the audit pricing of heavily-polluting enterprises under the environmental challenges and optimising the environmental regulatory system.
central environmental protection inspectionaudit feelevel of green governancequality of accounting informationmanagement tone manipulation
NETL
NSTL
万方数据
