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| Research on the Impact of Social Media Attention on Boiler-Plate Key Audit Matters Disclosure |
| SU Zihao，SUN Yan，ZHAO Wei |
| 1. Soochow University, Suzhou, Jiangsu, China; 2. Harbin Institute of Technology, Harbin, China; 3. Beijing Foreign Studies University, Beijing, China |
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Abstract Using China’s A-share companies over the period of 2016~2020 as our samples, we use the number of posts of investors from “guba” to proxy social media attention, and examine the effect of social media attention on boiler-plate disclosure of key audit matters. We find that the attention from social media can effectively reduce the horizontal textual similarity of key audit matters. And this effect is more pronounced when there are strong negative sentiment on social media and poor investor protection by the company. The mechanism test suggests that social media attention reduces the standardization of key audit matters by increasing the anticipated reputation loss for auditors. Further studies demonstrate that heightened attention from social media also suppresses the vertical textual similarity of key audit matters, enhances readability and expands the range of covered accounting topics.
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Received: 05 June 2023
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