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Enhancement of audit quality and optimization of risk management: Dual engines for corporate value growth analysis

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  • Wang, Pengmian
  • Liang, Shuguang

Abstract

This study examines the interplay among internal audit quality, risk management, and corporate value creation using a sample of A-share listed firms from 2013 to 2022. The empirical findings reveal a statistically robust positive association between enhanced audit quality and value creation, with risk management serving as a critical mediating channel. Further heterogeneity analysis demonstrates that the value-enhancing effect of audit quality is more pronounced in firms operating under intense market competition or with superior internal control systems. Additionally, this relationship strengthens with higher levels of financial constraints and deeper digital transformation adoption.

Suggested Citation

  • Wang, Pengmian & Liang, Shuguang, 2025. "Enhancement of audit quality and optimization of risk management: Dual engines for corporate value growth analysis," International Review of Economics & Finance, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:reveco:v:103:y:2025:i:c:s1059056025005027
    DOI: 10.1016/j.iref.2025.104339
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    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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