The empirical relationship between ownership characteristics and audit fees
Tóm tắt
Từ khóa
Tài liệu tham khảo
Abbott LJ, Parker S, Peters GF, Raghunandan K (2003) The association between audit committee characteristics and audit fees. Auditing: A J Practice Theory 22(2):17–32
Aggarwal A, Rao R (1990) Institutional ownership and distribution of equity returns. Finance Rev 25:211–229
Anonymous (1993) Shareholders call the plays. Economist 83–84
Balsam S, Bartov E, Marquardt C (2002) Accruals management, investor sophistication, and equity valuation: evidence from 10 Q filings. J Acc Res 40(4):987–1012
Barron O, Pratt J, Stice JD (2001) Misstatement direction, litigation risk, and planned audit investment. J Acc Res 39(3):449–462
Bartov E, Radhakrishnan S, Krinsky I (2000) Investor sophistication and patterns in stock returns after earnings announcements. Acc Rev 75(1):43–63
Beasley MS (1996) An empirical analysis of the relation between the board of director composition and financial statement fraud. Acc Rev 71 October:443–465
Beasley MS, Carcello JV, Harmanson DR (1999) Fraudulent financial reporting, 1987–1997: An analysis of U.S. public companies. Committee of sponsoring organizations of the treadway commission (COSO), New York
Beasley MS, Salterio SE (2001) The relationship between board characteristics and voluntary improvements in audit committee composition and experience. Contemp Acc Res 18(4):539–570
Becker CL, DeFond ML, Jiambalvo J, Subramanium KR (1998) The effect of audit quality on earnings management. Contemp Acc Res 15:1–24
Bedard JC, Johnstone KM (2004) Earnings manipulation risk, corporate governance risk, and auditors’ planning and pricing decisions. Acc Rev 79(2):277–304
Bell TB, Landsman W, Shackelford DA (2001) Auditors’ perceived business risk and audit fees: analysis and evidence. J Acc Res 39(1):35–43
Black BS (1990) Shareholder passivity reexamined. Mich Law Rev 520:575–591
Bushee B (1998) The influence of institutional investors on myopic R&D investment behavior. Acc Rev 73(3):305–333
Carcello JV, Hermanson DR, Neal TL, Riley RA (2002) Board characteristics and audit fees. Contemp Acc Res 19(3):365–384
Christie A, Zimmerman J (1994) Efficient and opportunistic choices of accounting procedures: corporate control contests. Acc Rev 69(4):539–566
Chung R, Firth M, Kim J-B (2002) Institutional monitoring and opportunistic earnings management. J Corp Finance 8:29–48
Cohen J, Krishnamoorthy G, Wright AM (2002) Corporate governance and the audit process. Contemp Acc Res 19(4):573–594
Core JE (1995) Directors’ and officers’ insurance premiums, litigation risk and agency costs. Working paper, The University of Pennsylvania
Core JE, Holthausen RW, Larcker DF (1999) Corporate governance, chief executive officer compensation and firm performance. J Finan Econ 51:371–406
Craswell AT, Francis JR, Taylor SL (1995) Auditor brand name reputations and industry specializations. J Acc Econ 20:297–322
Craswell AT, Francis JR (1999) Pricing of initial audit engagements: a test of competing theories. Acc Rev 74(2):201–216
Dechow PM, Sloan RG, Sweeney AP (1996) Causes and consequences of earnings manipulation: An analysis of firms subject to enforcement actions by SEC. Contemp Acc Res 13:1–36
Duggal R, Millar JA (1999) Institutional ownership and firm performance: the case for bidder returns. J Corp Finance 5:103–117
El-Gazzar SM (1998) Predisclosure information and institutional ownership: a cross-examination of market revaluations during the earnings announcement period. Acc Rev 73:119–129
Financial Economists Roundtable Statement on Institutional Investors and Corporate Governance (1999) The Financier 6(1):5–7
Francis JR, Maydew EL, Sparks HC (1999) The role of Big 6 auditors in the credible reporting of accruals. Auditing: A J Practice Theory 18(2):17–34
Gillan SL, Starks LT (2000) Corporate governance proposals and shareholder activism: the role of institutional investors. J Finan Econ 57:275–305
Grossman S, Hart O (1980) Takeover bids, the free rider problem, and the theory of the corporations. Bell J Econ 11:42–64
Gul FA, Tsui JSL (1998) A test of the free cash flow and debt monitoring hypotheses: evidence from audit pricing. J Acc Econ 24:219–237
Gul FA, Tsui JSL (2001) Free cash flow, debt monitoring, and audit pricing: further evidence on the role of director equity ownership. Auditing: A J Practice Theory 20(2):71–84
Gul FA, Lynn SG, Tsui JSL (2002) Audit quality, management ownership and the informativeness of accounting earnings. J Acc Aud Finance 17(1):25–49
Gul FA, Chen CJP, Tsui JSL (2003) Discretionary accounting accruals, managers’ incentives, and audit fees. Contemp Acc Res 20(3):441–464
Hessel C, Norman M (1992) Financial characteristics of neglected and institutionally held stocks. J Acc, Aud Finance 7:313–334
Holthausen RW, Larcker DF, Sloan RG (1995) Annual bonus schemes and the manipulation of earnings. J Acc Econ 19(1):29–74
Jensen MC (1986) Agency costs of free cash flow, corporate finance and takeovers. Am Econ Rev 76:323–329
Jensen M (1993) The modern industrial revolution, exit and failure of internal control systems. J Finance 48:831–880
Jensen M, Meckling W (1976) Theory of the firm: managerial behavior, agency costs, and capital structure. J Finan Econ 3:305–360
Jiambalvo J (1996) Discussion of causes and consequences of earnings manipulation: an analysis of firms subject to enforcement actions by SEC. Contemp Acc Res 13:37–47
Jiambalvo J, Rajgopal S, Venkatachalam M (2002) Institutional ownership and the extent to which stock prices reflect future earnings. Contemp Acc Res 19(1):117–145
John K, Senbet W (1998) Corporate governance and board effectiveness. J Banking Finance 22(4):371–403
Jones D (1993) Big investors take a more activist role. USA Today (Aug. 9): B1-2
Kahn C, Winton A (1998) Ownership structure, speculation and shareholder intervention. J Finance LIII(1):99–129
Kamin JY, Ronen J (1978) The smoothing of income numbers: Some empirical evidence on systematic differences among management-controlled and owner-controlled firms. Acc Organizations Society 3(2):141–157
Kane GD, Velury U (2004) The role of institutional ownership in the market for auditing services: An empirical investigation. J Bus Res 57:976–983
Kaplan SN, Minton B (1994) Appointments of outsiders to Japanese boards: determinants and implications for managers. J Finan Econ 36:225–257
Klein A (2002) Audit committee, board of director characteristic, and earnings management. J Acc Econ 33:375–400
McConnell JJ, Servaes H (1990) Additional evidence on equity ownership and corporate value. J Finan Econ 27(October):595–612
Mitra S, Cready WM (2005) Institutional stock ownership, accrual management and information environment. J Acc, Aud Finance 20(3):257–286
Monks R, Minow N (1995) Corporate governance. Blackwell Publishers, Cambridge, UK
O’Keefe TB, Simunic DA, Stein MT (1994) The production of audit services: evidence from a major public accounting firm. J Acc Res 32(2):241–261
Opler TC, Sokobin J (1995) Does coordinated institutional shareholder activism work? An analysis of the Activities of the Council of Institutional Investors. Dice Center for Research in Financial Economics; working paper series 95-5
Rajgopal S, Venkatachalam M (1998) The role of institutional investors in corporate governance: an empirical investigation. Working paper
Reynolds K, Francis J (2001) Does size matter? The influence of large clients on office-level auditor reporting decisions. J Acc Econ 30:375–400
Shleifer A, Vishny R (1989) Management entrenchment: the case of manager specific investments. J Finan Econ 25:123–139
Simunic D, Stein MT (1996) The impact of litigation risk on audit pricing: a review of the economics and the evidence. Auditing: A J Practice Theory 15(Supplement):119–134
Teoh SH, Wong TJ (1993) Perceived auditor quality and the earnings response coefficient. Acc Rev 68:346–367
Tsui JSL, Jaggi B, Gul FA (2001) CEO domination, growth opportunities, and their impact on audit fees. J Acc Aud Finance 16(3):189–203
Utama S, Cready WM (1997) Institutional ownership, differential predisclosure precision and trading volume at announcement dates. J Acc Econ 24:129–150
Wahal S, McConnell JJ (2000) Do institutional investors exacerbate managerial myopia? J Corp Finance 6:307–329
Warfield TD, Wild JJ, Kenneth WL (1995) Managerial ownership, accounting choices and informativeness of earnings. J Acc Econ 20:61–91
Watts RL, Zimmerman J (1986) Positive accounting theory. Prentice Hall, NJ
Whittington OR, Pany K (2005) Principles of auditing and other assurance services. McGraw-Hill Irwin, New York