Does financial asset allocation term structure affect audit fees? Evidence from China.

ABSTRACT: The financialization of real enterprises presents a dilemma for China's economic development. This study examines the impact of the financial asset allocation term structure on audit fees using a sample of Chinese A-share listed companies from 2009 to 2019. It also investigates the mediating role of financial risk and the moderating role of independent director characteristics. The results indicate that higher long-term financial assets is associated with higher audit fees, while short-term financial assets show no significant relationship with audit fees. These findings remain robust after several tests. Financial risk mediates the relationship between long-term financial assets and audit fees. Furthermore, among the characteristics of independent directors, the proportion of female indep

SUBMITTER: Zhang C 

PROVIDER: S-EPMC11741647 | biostudies-literature | 2025

REPOSITORIES: biostudies-literature