祝继高，现为对外经济贸易大学国际商学院财务管理系教授、博士生导师。主要研究领域为会计与资本市场，在《经济研究》、《管理世界》、Journal of Corporate Finance、Journal of Banking and Finance、Journal of Accounting and Public Policy等国内外权威期刊上发表论文三十余篇。主持国家社科基金重大项目1项、国家自然科学基金3项。入选第四批国家“万人计划”青年拔尖人才、财政部高端会计人才(学术类)和第三届北京市高等学校青年教学名师。
Bank Branching Applications and Window Dressing: Evidence on Banks’ Strategic Use of Loan Loss Provisions
【Abstract】After the removal of geographic restrictions on branching in 2006, China’s city commercial banks (CCBs) can apply for permission to branch outside their province. This paper shows that CCBs report higher loan loss provisions before filing an application, thereby increasing the provision coverage ratio of nonperforming loans and making the bank look safer to regulators. Our finding is robust to controlling for possible endogeneity of the branching application decision by employing propensity score matching estimators, and it is confirmed when we consider a quasi-natural experiment of deregulation reversal.
廖林，西南财经大学经济与管理研究院副教授，博士生导师，中国政府审计研究中心国际学术研究与交流部主任，澳大利亚新南威尔士大学(UNSW)会计学博士，澳大利亚注册会计师(CPA), 英文期刊Accounting and Finance(SSCI 二区）副主编(Associate Editor)，入选2020中国高被引学者。主要研究方向为审计、公司治理、企业社会责任等。主要成果发表在Journal of Business Ethics、British Accounting Review、Pacific Basin Finance Journal、Accounting and Finance等国际英文学术期刊。
A New Wave of Audit Partners: Evidence from the Chinese Localization Rule
【Abstract】We examine a unique regulation that accelerated the localization of the Big 4 operations in China, requiring these firms to have at least 80 percent locally licensed audit partners. This shift required a reorganization of the firms’ human capital, which could have direct and indirect consequences for their partnerships’ structure and audit quality. We examine fourteen years around the implementation of the regulation and rely on a difference-in-differences research design, comparing several outcomes between Big 4 and other top-10 local audit firms. We demonstrate that the Big 4 met the requirements by promoting local talent, increasing the number of incoming partners occupying junior roles, and diluting each partner’s share of the total firm’s clients. However, we do not find evidence that the regulation had an incremental effect on audit quality. Our findings suggest that the regulation achieved its intended objectives, primarily developing local human capital, without impairing audit quality.
朱磊，西南财经大学会计学院博士生，目前在China Journal of Accounting Research、《中国会计评论》、《审计与经济研究》、《当代财经》等发表论文，主持中央高校基本科研项目一项，研究兴趣集中在探讨中国制度背景下审计与公司治理问题研究。