بررسي اثر چرخش اجباري حسابرسان بر ارتباط بين حق الزحمه حسابرسي با ارزشافزوده بازار، ارزش افزوده اقتصادي و فرصت هاي رشد شركتها

Investigating the Effect of Mandatory Rotation of Auditors on the Relationship between Audit Fees and Market Value Added (MVA), Economic Value Added (EVA) and Corporate Growth Opportunities

ﻫﺪف اﺻﻠﯽ اﯾﻦ ﭘﮋوﻫﺶ، ﺑﺮرﺳﯽ اﺛﺮ ﭼﺮﺧﺶ اﺟﺒﺎري ﺣﺴﺎﺑﺮﺳﺎن ﺑﺮ ارﺗﺒﺎط ﺑﯿﻦ ﺣﻖاﻟﺰﺣﻤﻪ ﺣﺴﺎﺑﺮﺳﯽ ﺑﺎ ارزشاﻓﺰوده ﺑﺎزار، ارزشاﻓﺰوده اﻗﺘﺼﺎدي و ﻓﺮﺻﺖﻫﺎي رﺷﺪ در ﺷﺮﮐﺖﻫﺎي ﭘﺬﯾﺮﻓﺘﻪﺷﺪه در ﺑﻮرس اوراق ﺑﻬﺎدار ﺗﻬﺮان اﺳﺖ. ﻓﺮﺿﯿﻪﻫﺎي ﭘﮋوﻫﺶ ﺑﺮ ﻣﺒﻨﺎي ﻧﻤﻮﻧﻪ آﻣﺎري ﻣﺘﺸﮑﻞ از 106 ﺷﺮﮐﺖ ﻃﯽ دوره 11 ﺳﺎﻟﻪ از ﺳﺎل 1386 ﻟﻐﺎﯾﺖ 1396 و ﺑﺎ اﺳﺘﻔﺎده از اﻟﮕﻮﻫﺎي رﮔﺮﺳﯿﻮﻧﯽ ﭼﻨﺪ ﻣﺘﻐﯿﺮه ﺑﺎ دادهﻫﺎي ﺗﺮﮐﯿﺒﯽ ﻣﻮرد آزﻣﻮن ﻗﺮار ﮔﺮﻓﺖ. ﻧﺘﺎﯾﺞ ﻧﺸﺎن ﻣﯽدﻫﺪ ﮐﻪ ﺣﻖاﻟﺰﺣﻤﻪ ﺣﺴﺎﺑﺮﺳﯽ ﺑﺮ ارزشاﻓﺰوده ﺑﺎزار، ارزشاﻓﺰوده اﻗﺘﺼﺎدي و ﻓﺮﺻﺖﻫﺎي رﺷﺪ ﺷﺮﮐﺖﻫﺎ اﺛﺮ ﻣﺜﺒﺖ و ﻣﻌﻨﺎداري دارد. ﻫﻤﭽﻨﯿﻦ، ﭼﺮﺧﺶ اﺟﺒﺎري ﺣﺴﺎﺑﺮس ﺑﺮ ارزشاﻓﺰوده ﺑﺎزار، ارزشاﻓﺰوده اﻗﺘﺼﺎدي و ﻓﺮﺻﺖﻫﺎي رﺷﺪ ﺷﺮﮐﺖﻫﺎ ﺗﺄﺛﯿﺮ ﻣﻌﻨﺎداري ﻧﺪارد. ﺑﻪﻋﻼوه، ﭼﺮﺧﺶ اﺟﺒﺎري ﺣﺴﺎﺑﺮس ﺑﺮ ارﺗﺒﺎط ﺑﯿﻦ ﺣﻖاﻟﺰﺣﻤﻪ ﺣﺴﺎﺑﺮﺳﯽ و ارزشاﻓﺰوده ﺑﺎزار ﺷﺮﮐﺖﻫﺎ اﺛﺮ ﻣﻨﻔﯽ و ﻣﻌﻨﺎدار و ﺑﺮ ارﺗﺒﺎط ﺑﯿﻦ ﺣﻖاﻟﺰﺣﻤﻪ ﺣﺴﺎﺑﺮﺳﯽ و ارزشاﻓﺰوده اﻗﺘﺼﺎدي ﺷﺮﮐﺖﻫﺎ اﺛﺮ ﻣﺜﺒﺖ و ﻣﻌﻨﺎداري دارد. درﻧﻬﺎﯾﺖ، ﭼﺮﺧﺶ اﺟﺒﺎري ﺣﺴﺎﺑﺮس ﺑﺮ ارﺗﺒﺎط ﺑﯿﻦ ﺣﻖاﻟﺰﺣﻤﻪ ﺣﺴﺎﺑﺮﺳﯽ و ﻓﺮﺻﺖﻫﺎي رﺷﺪ ﺷﺮﮐﺖﻫﺎ اﺛﺮ ﻣﻌﻨﺎداري ﻧﺪارد.

The main purpose of this research is to investigate the effect of mandatory rotation of auditors on the relationship between audit fees and market value added, economic value added and growth opportunities for listed companies in Tehran Stock Exchange. Research hypotheses based on a statistical sample of 106 companies during an 11-year period from 2007 to 2017 were tested using the multivariable regression model and panel data method. Results suggested that there is a positive and significant relationship between audit fees and market value added, economic value added, and growth opportunities for companies. Also, there is no significant relationship between the mandatory rotation of auditors and market value added, economic value added, and growth opportunities for companies. In addition, the mandatory rotation of auditors has a negative and significant effect on the relationship between audit fees and market value added of companies and has a positive and significant effect on the relationship between audit fees and economic value added of companies. Finally, the mandatory rotation of auditors has no significant effect on the relationship between audit fees and corporate growth opportunities.