审计师的研发专业化与客户的研发投资-q敏感性

IF 2.9 3区 管理学 Q2 BUSINESS, FINANCE
Eugenia Y. Lee , Wonsuk Ha , Sunyoung Park
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引用次数: 1

摘要

虽然研究与开发活动通过技术创新促进了经济增长,但它们带来了巨大的不确定性和代理成本。在本研究中,我们考察了研发专业审计师在影响客户研发投资决策中的治理作用。利用2001-2016年的美国公司样本,我们发现研发专业审计师的客户以更高的研发投资-q敏感性的形式进行更有效的投资。我们还发现,研发费用酌情调整的减少缓和了这一结果。此外,当客户接受研发专家的审计时,他们的研发投资与随后几年的创新产出联系更紧密。总的来说,我们的研究结果表明,审计师的专业知识会促使客户做出更好的经济决策。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Auditor specialization in R&D and clients’ R&D investment-q sensitivity

While research and development (R&D) activities contribute to economic growth via technological innovations, they impose significant uncertainty and agency costs. In this study, we examine the governance role of R&D specialist auditors in affecting clients’ R&D investment decisions. Using a sample of U.S. firms during 2001–2016, we find that R&D specialist auditors’ clients make more efficient investments in the form of a higher R&D investment-q sensitivity. We also find that the reduction in discretionary adjustments of R&D expenses moderates the results. Further, when clients are audited by R&D specialists, their R&D investments are more closely linked to innovative output in subsequent years. Collectively, our results suggest that an auditor’s specialized knowledge induces clients to make better economic decisions.

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来源期刊
CiteScore
6.00
自引率
3.00%
发文量
24
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