本論文主要以2000年至2017年之上市（櫃）公司為研究對象，但排除行業特殊的金融業（包括銀行、證券保險公司），實證探討審計品質對企業信用風險的影響，特別加入公司治理、公司財務特性做為控制變數。然而，因資料結構為縱橫資料(Panel Data)，本論文特別考慮公司信用風險在公司之間存在明顯異質性(Heterogeneity)問題，因而採用Panel FGLS Data Model (Panel Feasible Generalized Least Squares Data Model)估計方法進行估計。本論文以客戶重要性、產業專精、查核任期及會計師事務所規模、財務報表重編為審計品質代理變數。實證結果發現客戶重要性、產業專精、查核任期長皆顯著地降低企業信用風險，財務報表重編顯註的提高企業信用風險，但不支持會計師事務所規模越大可降低企業信用風險的假說。最後，公司治理品質較佳的公司，更可以進一步顯著地降低公司的信用風險。 Using yearly data on public-listed companies in Taiwan (excluding bank, security, and insurance companies) over 2000-2017, this thesis empirically investigates the impacts of auditing quality on corporate credit risk, specifically focusing on corporate governance and financial characteristics as controlling variables. However, we consider the data structure of panel data due to firm's heterogeneity, using Panel FGLS Data Model (Panel Feasible Generalized Least Squares Data Model). The variables of auditing quality include customer importance, industry specialization, auditing term, accounting firm size, financial report restatement. The empirical results indicate that customer importance, industry specialization, auditing term significantly decrease the corporate credit risk while financial report restatement increases the credit risk. However, accounting firm size does not support the hypothesis of reducing firm's credit risk. Finally, firms with higher quality of corporate goverance significantly decrease credit risk.
