An Empirical Study On The Impact Of Auditor Reputation On IPO Bubble And Audit Fees

In recent years,enterprise managers and the public outside the enterprise pay more and more attention to the role of audit departments.Audit is a powerful means for the board of directors and its senior management to carry out the control.It can strengthen the control of the enterprise,discover and restrain the occurrence of fraud,optimize the organizational structure and help the enterprise to add value.The role of auditors lies in giving full play to their audit role and promoting the sound development of the capital market.A good auditor's ability is related to the success or failure of the enterprise.It can enhance the comprehensive competitiveness of the enterprise and promote the long-term stable development of the enterprise,and the role of audit depends on the auditor's reputation to a great extent.This paper selects more than 800 ipo listed companies in a stock market from 2014 to 2016 as the research object,constructs the auditor reputation,the IPO valuation bubble and the audit expense three related elements to start,respectively from the background significance,the research method,the literature review and the empirical analysis aspect carries on the thorough analysis and the research.First of all,this paper briefly introduces the research background,aim and significance,research methods,research ideas and framework,and points out its innovative points.Secondly,the research literature at home and abroad are summarized,and according to the relevant concepts carding research results.Finally,by constructing multiple linear regression model,this paper empirically analyzes the relationship among auditor reputation,IPO valuation bubble and audit fees.The results are as follows:(1)There is a General IPO Valuation Bubble(INTERNAL VALUE IS LOWER THAN IPO price)in ashare listed companies,but there is no obvious correlation between audit quality and IPO valuation bubble;(2)The relationship between auditor reputation,audit fee and IPO bubble is studied,and it is found that there is a significant positive correlation between auditor reputation and audit fees;the higher audit fees,the more likely there is a bubble in IPO.