Audit Firm Characteristics,Behavior and Efficiency of Audit Production
- 管理学院－已发表论文 
本文应用数据包络分析方法(DEA)评估我国事务所的审计生产效率状况,并在此基础上检验事务所特征和行为对审计生产效率的影响。实证结果表明,我国事务所审计生产效率整体水平较高,但仍存在一定的提升空间。在事务所特征方面,异地所的审计生产效率显著高于本地所;行业专门化程度与审计生产效率显著正相关,即随着行业专门化程度的提高,审计生产效率不断提高;但我们未发现事务所任期对审计生产效率具有显著影响。在事务所行为方面,事务所在对被出具非标准审计意见的上市公司进行审计时表现出显著的高效率。The main purpose of this paper is to evaluate the produc-tion efficiency of Chinese audit firms. Then based on the evaluation,we test the effect of audit firm characteristics and behavior on audit production efficiency to provide some empirical evidence and policy advice for further improving audit firms’ core competitiveness. We use data envelopment analysis (DEA) to evaluate the production ef-ficiency of audit firms. DEA is a very general linear programming method of estimating a production frontier. It enables us to calculate a client-specific parameter that measures the efficiency of audit production relative to the other audits in the sample. Our sample consists of 814 audits in 2004 and 847 audits in 2005 produced by Chinese non-big 10 audit firms. We find that the audits in 2004 are performed at an average efficiency level of about 84.9% and the audits in 2005 are performed at an average efficiency level of about 91%. This result shows,in general,the production efficiency of Chi-nese audit firms is high,but still can be advanced to some extant. That is,audit cost could be saved by 15.1% in 2004 and 9% in 2005. Based on the evaluation of audit firms’ production efficiency,we ex-amine the association between various characteristics and behavior of audit firm and the efficiency measure. For factors of audit firm characteristics,we find that the audit production efficiency of non-local audit firm is higher than that of local audit firm; the extant of industry specialization are positively related to the efficiency of au-dit production; but audit firm tenure has no significant relationship with the efficiency of audit production. For the factor of audit firm behavior,modified auditing opinion is positively related to the effi-ciency of audit production. Our results suggest that it is an effective strategy to enhance audit firms’ core competitiveness by improving audit production efficiency. Meanwhile in order to improve audit production efficiency,audit firms should develop industry special-ization.