时 间：2017年6月19日（周一）上午9：00-10：30
地 点：体育外围平台APP紫金港校区行政楼702会议室
主讲人：王文明博士，Hong Kong Baptist University
主持人：陈俊副教授，体育外围平台APP
题 目：Multiple-Auditor Appointment within Family Business Groups and Intragroup Value Transfers
摘 要：
The controlling families make a strategic decision of appointing external auditors for their economically linked member firmswithin family business groups (FBGs). Some groups hire a single auditor, while others hire multiple auditors. In this paper, we examine how effectively a single-auditor versus multiple-auditor appointment constrains intragroup value transfers.Using a sample of member firms affiliated toFBGs in three East Asian economies, this study provides both direct and indirect evidence (via related party transactions and stock price effects of earnings announcementsamong member firms) that audit work performed by the same auditor for all member firms more effectively constrains intragroup value transfers. In contrast, the appointment of multiple auditors (especially, along with non-Big 4) is associated with pervasive intragroup value transfers. The evidence is consistent with the ‘divide and conquer’ strategy of the controlling families to undermine the disciplining role played by external auditors. This study extends the corporate governance literature from a single auditor setting within a firm to a multiple-auditor setting within a group and sheds new light on the impaired effectiveness of multiple auditors within FBGs.
主讲人简介：
Dr Wenming Wang is Assistant Professor of Accounting at Hong Kong Baptist University. He obtained a Ph.D. in Accounting from Hong Kong Baptist University in 2011. Dr Wang’s research interest focues on corporate governance, corporate social responsibility, corporate finanical reporting, and debt financing. His reseach has been published in Financial Management, Journal of Banking and Finance, and Jouranl of Business Ethics.
