中国公司赴美上市（中概股）已然二十多年。近年来持续有美国做空机构质疑中国概念股的会计信息质量，包括通过买壳上市的公司和直接IPO公司，对中概股造成了极其负面的影响。美国证监会和审计监管机构多次提醒美国市场投资者关注中概股的信息质量和相关审计师。本项目旨在考察中概股的会计师事务所选择以及一系列相关问题。首先，项目考察中国赴美买壳上市公司和IPO公司的审计师选择；其次，考察不同国籍、不同规模的会计师事务所的审计质量；再次，寻找中国买壳上市公司倾向于选择美国会计师事务所的原因，是否美国的小规模会计师事务所能够帮助中国的买壳上市公司提供除审计之外的额外有价值服务；最后，我们考察美国市场投资者对不同国籍、不同规模的审计师的态度，是否对审计中国公司的美国事务所存在本土偏见。项目研究结果预期会填补学术领域不足或者空白之处，同时对拟赴美上市公司管理层，投资者以及监管者具有重要的决策依据。

It has been more than 20 years since the first Chinese firm was listed in U.S. However, the strong attack by some U.S. short sellers on financial information reliability severely damaged Chinese firms, including those listed through reverse mergers and direct IPOs. The U.S. PCAOB and SEC also published a series of warnings to their investors. Our research will examine the choice of accounting firm for the cross-listed Chinese firms in U.S. and the related auditing issues. In particular, we first examine how reverse-merger firms and IPO firms, respectively, select their auditors. Second, we are interested in whether different audit firms provide different audit quality. Third, we are curious whether Chinese firms have other incentives to hire U.S. small auditors besides traditional audit service. Lastly, we investigate how the U.S. market perceives the choice of accounting firms by Chinese firms. We believe that our study is innovative and will fill in gaps on related research areas, and meanwhile, the results will benefit Chinese firms planning to list in U.S., standard setters, and investors as well.