From Site Visits to Swift Audits: The Influence of Institutional Investors

Baibing Huang (), Shaohua Tian (), Yang Zhang () and Huanhuan Zheng ()
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Baibing Huang: Macau University of Science and Technology
Shaohua Tian: Macao Polytechnic University
Yang Zhang: University of Macau
Huanhuan Zheng: National University of Singapore

No 202533, Working Papers from University of Macau, Faculty of Business Administration

Abstract: This paper investigates the influence of institutional investors' corporate site visits on the timeliness of financial reporting. Utilizing data from publicly traded firms listed in the Shenzhen Stock Exchange (SZSE) in China, the study reveals that companies that receive a greater number of site visits from institutional investors exhibit shorter delays in the issuance of audit reports. These findings remain robust even after conducting various robustness checks and employing alternative estimation methods to address potential endogeneity concerns. Additionally, supplementary analysis suggests that institutional investors' site visits may enhance financial statement timeliness by facilitating more efficient acquisition of information and promoting enhanced corporate governance practices. Moreover, the study finds that institutional investors' site visits contribute to the timely disclosure of audit reports without compromising their quality. These significant findings hold important implications for firms, investors, and policymakers.

Keywords: Corporate site visits; financial statement timeliness; Audit report lag; Institutional investors; Chinese listed firms (search for similar items in EconPapers)
Pages: 28 pages
Date: 2025-06
New Economics Papers: this item is included in nep-acc, nep-cfn and nep-cna
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Published in UM-FBA Working Paper Series

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