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The Determinants of Public Firms' Initial Auditor Switching
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Auditor switching has been an extensively discussed academic issue, and the results change with the time and the background. This study suggests that the earnings management behavior and the financial position of the company before and after initial public offering will affect a company's auditor switching decision. Therefore, this study combines the initial public offering issue with the auditor witching issue and investigates the determinants of initial auditor switching after the company went public. This study suggests that the audit quality offered by the same-sized audit firm is similar and therefore focuses on auditor switching between different-sized firms.
This study adopts companies as samples which not only had initial public offerings from 1991 to 2010 but also switched auditors afterwards. The Logistic regression is adopted to examine the hypotheses. The empirical results indicate that, after the companies had the initial public offerings, when they had declining performance and frequent management change, they switched their auditors from a big firm to a non- big firm. And when they got bigger in size, they switched auditors from a non- big firm to a big firm.
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