TY - JOUR
T1 - Do modified audit opinions for Shanghai listed firms convey heterogeneous information?
AU - Pei, Donglin
AU - Hamill, Philip A.
PY - 2013
Y1 - 2013
N2 - This study investigates market reactions to different types of modified audit opinions (MAOs) and unqualified audit opinion with explanatory notes, i.e. quasi-qualification - a unique feature of China's institutional environment. We find that quasi-qualifications contain more significant negative information than clean audit opinions, but less than that in other types of qualified audit opinions. Further, we provide evidence that audit opinions possess significant information heterogeneity in the Shanghai stock market.
AB - This study investigates market reactions to different types of modified audit opinions (MAOs) and unqualified audit opinion with explanatory notes, i.e. quasi-qualification - a unique feature of China's institutional environment. We find that quasi-qualifications contain more significant negative information than clean audit opinions, but less than that in other types of qualified audit opinions. Further, we provide evidence that audit opinions possess significant information heterogeneity in the Shanghai stock market.
KW - China
KW - Quasi-qualification modified auditor opinions
KW - Shanghai stock market
UR - http://www.scopus.com/inward/record.url?scp=84875608391&partnerID=8YFLogxK
U2 - 10.1016/j.intaccaudtax.2013.02.004
DO - 10.1016/j.intaccaudtax.2013.02.004
M3 - Article
AN - SCOPUS:84875608391
SN - 1061-9518
VL - 22
SP - 1
EP - 11
JO - Journal of International Accounting, Auditing and Taxation
JF - Journal of International Accounting, Auditing and Taxation
IS - 1
ER -