财务与会计学术论坛第八十二期

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题目: Client, Industry and Country Factors Affecting Choice of Big N Industry Expert Auditors 演讲者:Soo Young Kwon, professor, Korea University 时间: 2008年11月7日(星期五)3:00—4:30 PM 地点: 嘉庚二501 参加者: 对会计研究有兴趣的广大师生 主持人: 沈哲老师 论文摘要: This study investigates client choice of industry specialist auditors from among the Big N (Big 4 or 5) in an international (non-U.S.) setting. We employ two geographical measures of auditors’ industry expertise as a surrogate for high audit quality: based on industry market shares in clients’home countries, and based on industry market shares in the U.S. We investigate client-specific, industry-level and country-level factors hypothesized to enhance or decrease client demand for audits by auditors having industry expertise. Using data for 29 countries and 14 broad industries from 1993-2005, we find that international client choice of homebased industry specialist auditors is positively associated with client size, leverage, growth opportunities, capital intensity, and membership in a regulated industry. At the country level, the choice of Big N industry specialist auditors is higher where levels of investor protection and quality of financial reporting environment are higher. We find somewhat different results for the U.S.-based measure of auditor industry specialization. International client choice of U.S.-based industry specialist auditors is positively associated with leverage, growth opportunities, external financing, financial losses, and concentrated industries. Additionally, the demand for the U.S.-based industry specialist auditors is higher where levels of investor protection and national economic development (but not quality of financial reporting environment) are higher. 论文作者简介: Soo Young Kwon is a professor of accounting and Vice President for Administration and Finance at Korea University, where he has been teaching since 1993. He received his BS in economics from Korea University, MBA in accounting from University of Texas at Austin, MS in applied economics from University of Rochester and PhD in accounting from Washington University.