【摘要】 上市公司审计质量高低直接影响众多利害关系人的利益和社会经济生活秩序，本文通过研究“四大”会计师事务所与“非四大”会计师事务所审计质量在投资者中的市场认同度是否存在差异性，探讨中国会计市场需要进一步完善的领域。中国市场是一个新兴的市场，会计制度和市场格局不断发生变化，同时，本文也探讨了在新兴市场环境下会计制度与市场格局的变化对市场认同度的影响。本文研究发现：“四大”与“非四大”审计质量市场认同度确实存在差异，市场更认同“四大”的审计质量，并且表现出认同的一致性。而且“四大”与“非四大”审计质量市场认同度差异明显受到不同时间段会计制度和市场格局变化因素的影响。

　　【关键词】 审计质量  市场认同度  差异性

 

Research on the difference in market reactions to auditor's financial statements between big-fours and non-big-fours

　　Abstract: Audit quality of listed companies affect interest of stakeholder and economic order directly. By studying on the problem of the difference in market reactions of auditors' financial statements between big fours and non-big-fours, this paper try to find that the China accounting area need better improvement. Meanwhile, China is growing continuously, this paper also wants to discuss under new changing background how accounting system and market balance can affect market attitude. Also we examine that if changes of accounting standard, audit market influence these reactions. We find a systematic difference in market reactions to auditors' financial statements between big-fours and non-big-fours. The big-fours financial statements are more positively reacted by the market. We also find that this difference varies across difference time periods.

　　Key words: audit quality, market reactions, difference