An analysis of quasi-qualification, modified auditor opinions and special treatment status on China's Shenzhen market

Pei, D., Hamill, P.A. and Opong, K.K. (2010) An analysis of quasi-qualification, modified auditor opinions and special treatment status on China's Shenzhen market. Applied Economics Letters, 17(13), pp. 1265-1271. (doi: 10.1080/00036840902881827)

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Abstract

The development of accounting, auditing and capital markets in China were an integral component of China's economic reforms; auditing was regarded as being critically important to achieving the desired policy objective of delivering a market economy (Yang and Yang, 1998). This article examines the quasi-qualification hypothesis and tests whether investors valued the introduction of Special Treatment (ST) status for firms in 1998. Our empirical analysis fails to find significant support for the quasi-qualification hypothesis. In contrast, it appears that the issuance of ST status was valued by investors; the issuance of ST status led investors to discriminate between firms.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Opong, Professor Kwaku
Authors: Pei, D., Hamill, P.A., and Opong, K.K.
Subjects:H Social Sciences > HF Commerce
College/School:College of Social Sciences > Adam Smith Business School > Accounting and Finance
Journal Name:Applied Economics Letters
ISSN:1350-4851
ISSN (Online):1466-4291
Published Online:27 July 2009

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