Co-auditors and corporate innovation investment:The moderating effect based on the comparability of accounting information
As an important information transmission channel,the effectiveness and importance of auditors'information has attracted wide attention from the academic community.Existing studies have shown that the social network formed by joint auditors will affect the economic decision-making of enterprises.This article,by adopting the common auditors hired by China's Shanghai and Shenzhen A-share listed companies from 2009 to 2020,examines the impact of common auditors on customer enterprise innovation investment.The research finds that common auditors can improve the level of innovation investment of client companies,and that the accounting information comparability between companies positively regulates the positive impact of common auditors on innovation investment.Further research finds that the higher the quality of information disclosure and the higher the marketization process of the company,the more striking the positive impact of common auditors on the innovation investment of client companies.In addition,the information imitation mechanism and competition incentive mechanism are the transmission paths for client companies to enhance their innovation investment.The research of this article has enriched the relevant literature on the economic consequences of common auditors,and provided a certain reference for companies to effectively improve their innovation capabilities.
common auditorsinnovation investmentinformation imitationcompetitive incentive
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