[雙語(yǔ)翻譯]審計(jì)專業(yè)外文翻譯—審計(jì)師專業(yè)化、會(huì)計(jì)信息質(zhì)量和投資效率（節(jié)選）

1、字?jǐn)?shù)：英文 字?jǐn)?shù)：英文 2456 2456 單詞， 單詞，14366 14366 字符；中文 字符；中文 4459 4459 漢字 漢字出處： 出處：Elaoud Elaoud A, A, Jarboui Jarboui A. A. Auditor Auditor specialization, specialization, accounting accounting information information quality q

2、uality and and investment investment efficiency[J]. efficiency[J]. Research Research in in International International Business Business and and Finance,2017,42:616-629. Finance,2017,42:616-629.外文文獻(xiàn)： 外文文獻(xiàn)： Auditor specia

3、lization, accounting information quality and investment efficiencyAbstract This study is examined how the auditor specialization moderates the effect of accounting information quality on investment efficiency, i.e., whe

4、ther the effect of accounting information quality on investment efficiency is increasing or decreasing with the presence of the specialist auditor. The reached result reveals that the accounting information quality appea

5、rs to help decrease the overinvestment problem. Similarly, the auditor specialization has been discovered to help greatly in improving investment efficiency, while reducing the underinvestment problem. We further find th

6、at the accounting information quality and the auditor specialization are two mechanisms with some degree of substitution in enhancing investment efficiency. The accounting information quality is positively associated wit

7、h investment efficiency for firms whose auditor is an industry specialist.Keywords: Investment efficiency; Underinvestment; Overinvestment; Auditor specialization; Accounting information quality (AIQ)1.IntroductionA larg

8、e theoretical and empirical literature examines the role of the accounting information quality (Bushman et al., 2001; Bushman and Smith, 2001; Bagaeva, accounting numbers, due to higher AIQ, could lead to a more effectiv

9、e monitoring due to the specialist auditors and, consequently, the AIQ effect on investment efficiency would turn out to be higher for firms with greater AIQ and auditor specialization.On the other hand, firms with highe

10、r accounting quality are likely to help the manager reduce the adverse selection and moral hazard and allow managers to better identify investment opportunities (Biddle and Hilary, 2006). So, under this assumption, we wo

11、uld expect that the importance of AIQ in reducing information asymmetries will be higher in firms whose auditor is an industry specialist than that with a company whose auditor is not a specialist.Our results show that t

12、he AIQ reduces overinvestment, while the specialist auditor reduces the underinvestment. Moreover, our results also reveal that the AIQ effect on investment efficiency is positive for the firms whose auditor is an indust

13、ry specialist, highlighting the substitution role of AIQ and auditor specialization in reducing information asymmetries and monitoring manager’s behavior to such a way as expropriation can be greatly restricted.2.Literat

14、ure review and hypothesis development2.1.Investment efficiency and the accounting information quality (AIQ)Since higher AIQ makes managers more accountable by allowing better monitoring, and it may reduce adverse selecti

15、on and moral hazard, and thereafter decreases information asymmetries, it could thereby greatly reduce the overinvestment and the underinvestment problems. In addition, the AIQ could improve investment efficiency by enab

16、ling managers to make better investment decisions through a better identification of projects and more truthful accounting numbers for internal decision makers (Bushman et al., 2001; Bushman and Smith, 2001; McNichols an