上市公司年报非标审计意见的市场反应研究.doc

本科生毕业论文 （ 201 届） 论文题目： 系 名： 专 业： 班 级： 学 号： 学生姓名： 指导教师： 完成日期： 上海海关学院教务处制 上海海关学院Abstract: For the vast number of investors, the audit report which issued by certified public accountants is undoubtedly one of information that can be made use of. And in many audit report, the non-standard audit report plays a unique role. Investors use the audit information of the non-standard audit report to help make the investment decision. At the same time, the market regulators are needed to perform its functions based on it. Besides, listed companies need it to perfect their internal control and management. However, more and more financial fraud is lowering the trust of investors for certified public accountants, whether the capital market reacts significantly to the non-standard audit report issued by auditors. This paper first describes the last five years of non-standard audit opinions, and analyzes the reason of forming different types of non-standard report. Then, in this paper, we do empirical analysis to see market reaction for the non-standard audit opinions. Analyzing the non-standard audit opinion whether there is a significant negative impact on the market, whether different types of non-standard audit opinions have the same impact on capital market, and if published by suspicion of going concern for listed companies of non-standard audit opinions has different impact on capital market from published by other reasons. Then we draw the conclusion. Finally, the paper puts forward suggestions on how to protect investors in the capital market. Key words: Market reaction; the audi