[1] Amihud, Y., Mendelson, H., & Pedersen, L. H. (2002). Market Liquidity: Illiquidity and Stock Returns: Cross-Section and Time-Series Effects. Journal of Financial Markets, 5, 31-56.
https://doi.org/10.1016/S1386-4181(01)00024-6
[2] Christensen, B. E., Glover, S. M., & Wolfe, C. J. (2014). Do Critical Audit Matter Paragraphs in the Audit Report Change Nonprofessional Investors’ Decision to Invest? Auditing: A Journal of Practice & Theory, 33, 71-93.
[3] Flint, D. (1988). Philosophy and Principles of Auditing: An Introduction. New York: Macmillan Education Ltd.
[4] Grinblatt, M., Sheridan, T., & Russ, W. (1995). Momentum Investment Strategy, Portfolio Performance and Herding: A Study of Mutual Fund Behavior. American Economic Review, 85, 1088-1105.
[5] Hutton, A. P., Marcus, A. J., & Tehranian, H. (2009). Opaque Financial Reports. R2, and Crash Risk. Journal of Financial Economics, 94, 67-86.
https://doi.org/10.1016/j.jfineco.2008.10.003
[6] IAASB (2011). Enhancing the Value of Auditor Reporting: Exploring Options for Change.
[7] Jensen, M. C., & Meckling, W. (1976). Theory of the Firm: Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics, 3, 305-360.
https://doi.org/10.1016/0304-405X(76)90026-X
[8] Kachelmeier, S. J., & Valentine, J. J. K. (2017). Schmidt and The Disclaimer Effect of Disclosing Critical Audit Matters in The Auditor’s Report.
[9] Kohler, A., Ratzinger-Sakel, N. V. S., & Theis, J. (2016). The Effects of Critical Audit Matters on The Auditor’s Report’s Communicative Value: Experimental Evidence from Investment Professionals and Non-Professional Investors.
[10] Lennox, C. S., Schmidt, J. J., & Thompson, A. (2017). Is the Expanded Model of Audit Reporting Converging to Investors? Evidence from the UK.
[11] Li, L., Yan, B., & Gu, C. X. (2014). Intellectual Property Protection, Informational Asymmetry and Capital Structure of High-Tech Enterprises. Management World, No. 11, 1-9.
[12] Lu, J., & Zhang J. D. (2018). Preliminary Study on Critical Audit Disclosure in Audit Report—Evidence from A+ h-Share Listed Companies. Accounting Research, No. 2, 83-89.
[13] Mellers, B., Schwartz, A., Ho, K., & Ritov, I. (1997). Decision Affect Theory: Emotional Reactions to the Outcomes of Risk Options. Psychological Science, 8, 423-429.
https://doi.org/10.1111/j.1467-9280.1997.tb00455.x
[14] PCAOB (2013). Proposed Auditing Standards: The Auditor’s Report on an Audit of Financial Statements.
[15] Shepperd, J., & McNulty, J. (2002). The Affective Consequences of Expected and Unexpected Outcomes. Psychological Science, 13, 85-88.
https://doi.org/10.1111/1467-9280.00416
[16] Sherer, M., & Kent, D. (1988). Auditing and Accountability. London: Paul Chapman Publishing Ltd.
[17] Song, Y., Shen, J., & Fan, M. H. (2012). Do the Geographical Characteristics of Listed Companies Affect the Shareholding Decisions of Institutional Investors?—Empirical Evidence from China’s Securities Market. Accounting Research, 2020, 72-79+97.
[18] Wang, Y. Y., Xu, R., Wang, C. L. et al. (2018). Can the Critical Audit Matters Section Improve the Informational Value of the Audit Report? Accounting Research, No. 6, 86-93.
[19] Wermers, R. (1999). Mutual Fund Trading and the Impact on Stock Price. Journal of Finance, 54, 581-622.
[20] Zhang, J. X., Cai, Y. D., & Liu, W. H. (2016). Improvement of Standard Audit Report, Relationship between Management and Auditors and Communication Intention of Management—An Experimental Evidence. Audit Research, No. 3, 77-83.