关键词: 诉讼风险,融资困境,审计意见购买

Abstract: This research studies the impact of litigation risks on audit opinion purchasing of enterprises from the perspective of financing difficulties and risk management. By employing Lennox audit opinion purchasing model, it tests the impact of litigation risk on the purchasing of audit opinions by listed companies as well as its function mechanism. Based on that, it then probes into the differences in different institutional environments and industrial environments. The results show that litigation risks would let enterprises fall into financing plights, thus prompts the enterprises to purchase audit opinions. Further study reveals that when the marketization level is higher and the legal system is more perfect, the positive correlation between litigation risks and audit opinion purchasing will be weakened; the more intense the market competition is, the more significant the positive correlation between litigation risk and audit opinion purchasing will be.

Key words: litigation risk; financing difficulties; audit opinion purchasing