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

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  • Donglin Pei
  • Philip Anthony Hamill
  • Kwaku Kyekyeku Opong

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.

Suggested Citation

  • Donglin Pei & Philip Anthony Hamill & Kwaku Kyekyeku Opong, 2010. "An analysis of quasi-qualification, modified auditor opinions and special treatment status on China's Shenzhen market," Applied Economics Letters, Taylor & Francis Journals, vol. 17(13), pages 1265-1271.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:13:p:1265-1271
    DOI: 10.1080/00036840902881827
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    Cited by:

    1. Maria Heui-Yeong Kim & Shiguang Ma & Yanran Annie Zhou, 2016. "Survival prediction of distressed firms: evidence from the Chinese special treatment firms," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 21(3), pages 418-443, July.

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