山东理工大学硕士学位论文
摘要
摘要
客户是企业关键的利润来源，对企业的生存发展有着重要作用，客户关系的经济
后果也成为了学术界研究的重要话题。既往研究主要关注客户关系对于企业自身经营
的影响，但审计师作为企业重要的利益相关方，对企业的客户关系也必定予以关注，
并且会在其审计质量等行为决策中予以体现。客户集中度一定程度上反映了客户关系
特征，现有文献对于客户集中度与审计师行为的研究大多只涉及客户集中度与审计费
用之间的关系，对客户集中度如何影响审计质量甚少关注。目前我国审计市场尚不成
熟，因此从被审计单位的客户特征视角出发，探寻审计质量的影响因素，对于加强审
计行业监管、提升审计质量、促进资本市场的有效运行有着积极的现实意义。
在此基础上，本文以 2011—2020年沪深 A股上市公司为研究样本进行实证研究，
运用多元回归分析检验客户集中度与审计质量之间的关系，为了保证结果的可靠性，
运用了多种方法进行稳健性检验。以前五大客户销售占比、第一大客户销售占比、前
五大客户销售占比的赫芬达尔指数、前五大客户各自销售占比的标准差度量客户集中
度，以琼斯模型估计的操控性应计额的绝对值度量审计质量，分析了客户集中度对审
计质量的影响。研究发现，客户集中度越高，审计质量越低；异质性检验发现，产权
性质对两者关系具有显著的负向调节作用，国有企业中，客户集中度与审计质量的负
相关关系被弱化，同时监事会规模对二者之间的关系也具有显著的负向调节作用；机
制检验发现，信息透明度及会计师事务所选择在客户集中度与审计质量的关系中发挥
部分中介效应。本文研究结果表明，客户集中度的高低不止对企业的经营发展具有重
要影响，对于审计师来说也会对被审计单位的客户集中度予以关注，从而对企业从外
部获取审计报告的质量也具有重要影响。
目前已有的文献大多都是关于客户集中度对公司内部经营活动的影响研究，例如
对公司的绩效、经营风险、投资效率、现金持有水平、融资约束等方面影响的研究，
对于客户集中度与审计质量之间关系的研究比较鲜见。本文将客户集中度经济后果的
研究视角拓展到企业之外的利益相关者，同时，揭示了客户集中度对审计质量产生影
响的内在逻辑并提供经验证据，通过探索企业的客户特征对于外部审计行为的影响，
丰富了审计质量领域的研究文献，从供应链视角考察了审计质量的影响因素，强化了
供应链关系在独立审计中的重要性，也为进一步提升我国审计行业的服务质量提供启
示。
关键词：客户集中度；审计质量；中介效应；产权性质
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山东理工大学硕士学位论文
Abstract
Abstract
Customers are the key profit source of enterprises, play an important role in the
survival and development of enterprises. The economic consequences of customer relations
have also become an important topic in academic research. Previous studies mainly
focused on the impact of customer relationship on the enterprise's own operation, but as an
important stakeholder of the enterprise, auditors must also pay attention to the enterprise's
customer relationship, which will be reflected in their audit quality and other behavioral
decisions. Most of the existing literature studies on customer concentration and auditor
behavior only involve the relationship between customer concentration and audit fees, and
pay little attentionto how customer concentration affectsaudit quality. Therefore,
exploring the influencing factors of audit quality from the perspective of customer
relationship of the auditeehas positive practical significance for strengtheningthe
supervision of auditindustry, improving audit quality andpromoting the effective
operation of capital market.
Based on this problem, this paper takes Shanghai and Shenzhen A-share listed
companies from 2011 to 2020 as the research sample for empirical research, uses multiple
regression analysis to test the relationship between customer concentration and audit
quality, and uses a variety of methods to test the robustness in order to ensure the reliability
of the results. The sales proportion of the top five customers, the sales proportion of the top
five customers, the Herfindal index of the sales proportion of the top five customers, and
the standard deviation of the respective sales proportion of the top five customers measure
the customer concentration, measure the audit quality with the absolute value of the
manipulative accruals estimated by Jones model, and analyze the impact of the customer
concentration on theaudit quality. The study foundthat the higher the customer
concentration, the lower the audit quality; The heterogeneity test shows that the nature of
property rights has a significant negative regulatory effect on the relationship between
them. In state-owned enterprises, the negative correlation between customer concentration
and audit quality is weakened, and the size of the board of supervisors also has a
significant negative regulatory effect on the relationship between them; Mechanism test
found that information transparency and firm selection play a partial intermediary effect in
the relationship between customer concentration and audit quality. The research results of
this paper show that the level of customer concentration not only has an important impact
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山东理工大学硕士学位论文
Abstract
on the operation and development of enterprises, but also pays attention to the customer
concentration of the audited unit as an auditor who authenticates the company's financial
information.
At present,most of theexisting literatureis about theimpact ofcustomer
concentration on the company's internal business activities, such as the impact on the
company's performance, business risk, investment efficiency, cash holding level, financing
constraints and so on. There is little research on the relationship between customer
concentration and audit quality. This paper extends the research perspective of the
economic consequences of customer concentration to stakeholders outside the enterprise.
At the same tim, it reveals the internal logic of the impact of customer concentration on
audit quality and provides empirical evidence. By exploring the impact of enterprise
customer characteristics on external audit behavior, it enriches the research literature in the
field of audit quality, and examines the influencing factors of audit quality from the
perspective of supply chain, It not only strengthens the importance of supply chain
relationship in independent audit, but also provides enlightenment for further improving
the service quality of China's audit industry.
Key words: Customer Concentration; Audit Quality; Intermediary Effect; Property
Right Nature
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