Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/18855
標題: 公開發行以上公司首次更換會計師因素之探討
The Determinants of Public Firms' Initial Auditor Switching
作者: 牧慧勤
Mu, Hui-Chin
關鍵字: auditor switching;更換會計師;initial public offering;audit quality;首次公開發行;審計品質
出版社: 會計學研究所
引用: 中文部分 王振東(1993),「我國上市公司會計師更換因素之實證研究」,國立政治大學會計研究所碩士論文。 李建然與羅元銘(2002),「新上市公司上市後營運績效衰退原因之探討」,財務金融學刊,10(1),頁23-52。 官月緞與梁盛泰(2011),「會計師更換與繼續經營疑慮審計意見」,中華管理評論,14(1),頁1-23。 周百隆與盧俊安(2007),「以Cascaded Logistic Model 建構我國企業財務危機預警模型之研究」,中華管理評論,10(2),頁2-8。 張瑞當、方俊儒與沈文華(2008),「集團企業是否委託同一會計師事務所查核財務報表對其盈餘管理行為之影響」,管理評論,27(2),頁29-52。 楊朝旭與吳幸蓁(2003),「總經理薪酬績效敏感性、績效門檻與盈餘管理關聯性之研究」,會計評論,36,頁55-87。 英文部分 Agrawal, A., J. F. Jaffe, and J. M. Karpoff (1999), “Management turnover and governance changes following the revelation of fraud,” Journal of Law and Economics, 42(1), pp. 309-342. Anderson, U., K. Kadous, and L. Koonce (2004), “The role of incentives to manage earnings and quantification in auditors’ evaluations of management-provided information,” Auditing: A Journal of Practice and Theory, 23(1), pp. 11-27. Balsam, S., J. Krishnan, and J. S. Yang (2003), “Auditor industry specialization and earnings quality,” Auditing: A Journal of Practice and Theory, 22(2), pp. 71–97. Bartov E., F. A. Gul, and J. Tsui (2000), “Discretionary-accruals models and audit qualifications,” Journal of Accounting and Economics, 30(3), pp. 421-452. Beatty, R. P. (1989), “Auditor reputation and the pricing of initial public offerings,” Accounting Review, 64(4), pp. 693-709. Becker C. L., M. L. DeFond, J. Jiambalvo, and K. R. Subramanyam (1998), “The effect of audit quality on earning management,” Contemporary Accounting Research, 15(1), pp. 1-24. Blokdijk, H., F. Drieenhuizen, D. A. Simunic, and M. T. Stein (2006), “An analysis of cross-sectional differences in big and non-big public accounting firms'' audit programs,” Auditing: A Journal of Practice and Theory, 25(1), pp. 27-48. Burton, J. C. and W. Roberts (1967), “A study of auditor changes,” Journal of Accountancy, 123(4), pp. 31-36 Chaney, P.K. and K. L. Philipich (2002), “Shredded reputation: the cost of audit failure,” Journal of Accounting Research, 40(4), pp. 1221–1245. Chen, K. Y., K. L. Lin, and J. Zhou (2005), “Audit quality and earnings management for Taiwan IPO firms,” Managerial Auditing Journal, 20(1), pp. 86-104. Chow, C. W. and S. J. Rice (1982), “Qualified audit opinions and auditor switching,” The Accounting Review, 57(2), pp. 326-335. Cullinan, C. P. and S. G. Sutton (2002), “Defrauding the public interest: a critical examination of reengineered audit processes and the likelihood of detecting fraud”, Critical Perspectives in Accounting, 13(3), pp. 297-310. Davidson, W. N., P. Jiraporn, and P. J. DaDalt (2006), “Causes and consequences of audit shopping: An analysis of auditor opinions, earnings management, and auditor changes,” Quarterly Journal of Business and Economics, 45(1-2), pp. 69-87. DeAngelo, L. E. (1981), “Auditor size and audit quality,” Journal of Accounting and Economics, 3(3), pp. 183-199. DeFond, M. L. (1992), “The association between changes in clients firm agency cost and auditor switching,” Auditing: A Journal of Practice and Theory, 11(1), pp.16-31 DeFond, M. L. and K. R. Subramanyam (1998), “Auditor changes and discretionary accruals,” Journal of Accounting and Economics, 25(1), pp. 35-67. Dhaliwal, D. S., J. W. Schatzberg, and M. A. Trombley (1993), “An analysis of the economic factors related to auditor-client disagreements preceding auditor changes,” Auditing: A Journal of Practice and Theory, 12(2), pp. 20-38. Eichenseher, J. W. and P. Danos(1981) “The analysis of industry- specific auditor concentration: towards an explanatory model,” The Accounting Review, 56(3), pp.479-492. Eichenseher, J.W., M. Hagigi, and D. Shields, (1989), “Market reaction to auditor changes by OTC companies,” Auditing: A Journal of Practice and Theory, 9(1), pp. 29-40. Francis, J. R., E. L. Maydew, and H. C. Sparks, (1999), “The role of big 6 auditors in the credible reporting of accruals,” Auditing: A Journal of Practice and Theory, 18(2), pp. 17-34. Francis, J. R. and E. R. Wilson (1988), “Auditor changes: a joint test of theories relating to agency costs and auditor differentiation,” The Accounting Review, 63(4), pp. 663-682. Francis, J. R. and J. Krishnan (1999), “Accounting accruals and auditor reporting conservatism,” Contemporary Accounting Research, 16(1), pp. 135–166. Francis, J. R. and M. D. Yu (2009), “Big 4 office size and audit quality,” The Accounting Review, 84(5), pp. 1521–1552 Fried, D. and A. Schiff, (1981), “CPA switches and associated market reactions,” The Accounting Review, 56(2), pp. 326-341. Friedlan, J. M. (1994), “Accounting choice by issuers of initial public offerings,” Contemporary Accounting Research, 11(1), pp. 1-31. Gilson, S. C. (1989), “Management turnover and financial distress”, Journal of Financial Economics, 25(2), pp. 241-262. Gregory, A. and P. Collier (1996), “Audit fees and auditor change: investigation of the persistence of fee reduction by type of change,” Journal of Business Finance and Accounting, 23(1), pp. 13-28. Gul, F. A., C. J. P. Chen and J. S. L. Tsui (2003), “Discretionary accounting accruals, managers’ incentives, and audit fees,” Contemporary Accounting Research, 20 (3), pp. 441-464. Hay, D. and D. Davis (2004), “The voluntary choice of an auditor of any level of quality,” Auditing: A Journal of Practice and Theory, 23(2), pp. 37-53 Healy, P. (1985), “The effect of bonus schemes on accounting decisions,” Journal of Accounting and Economics, 7(1-3), pp. 85-107. Healy, P. and T. Lys (1986), “Auditor changes following big eight mergers with non-big eight audit,” Journal of Accounting and Public Policy, 5(4), pp. 251-65. Hribar, P., N. T. Jenkins and W. B. Johnson (2006), ‘‘Stock repurchases as an earnings management device,’’ Journal of Accounting and Economics, 41(1-2), pp. 3-27. Hunton, J. E., R. Libby, and C. L. Mazza (2006), ‘‘Financial reporting transparency and earnings management,’’ The Accounting Review, 81(1), pp. 135-170. Jain, B. A. and O. Kini (1994), “The post-issue operating performance of IPO firms,” The Journal of Finance, 49(5), pp. 1699-1726. Johnson, W. B. and T. Lys (1990), “The market for audit services: evidence from voluntary auditor changes,” Journal of Accounting and Economics, 12(1-3), pp. 281-308. Kim, J.B., R. Chung and M. Firth (2003), “Auditor conservatism, asymmetric monitoring, and earnings management,” Contemporary Accounting Research 30(2), pp. 323–359. Kim, M. and W. Kross (2005), ‘‘The ability of earnings to predict future operating cash flows has been increasing- not decreasing,’’ Journal of Accounting Research ,43(5), pp. 753-780. Kluger, B. D. and D. Shields (1989), “Auditor changes, information quality and bankruptcy prediction,” Managerial and Decision Economics, 10(4), pp. 275-282. Kluger, B. D. and D. Shields (1991), “Managerial moral hazard and auditor changes,” Critical Perspectives on Accounting, 2(3), pp. 255-272. Knechel, W. R., V. Naiker, and G. Pacheco (2007), “Does auditor industry specialization matter? Evidence from market reaction to auditor switches,” Auditing: A Journal of Practice and Theory, 26(1), pp. 19-45. Kothari, S.P., A. Leone, and C. Wasley (2005), “Performance matched discretionary accrual measures,” Journal of Accounting and Economics, 39(1), pp. 163-197. Krishnan, G.V. (2003), “Auditor quality and the pricing of discretionary accruals,” Auditing: A Journal of Practice and Theory, 22(1), pp. 109-126. Krishnan, J., Y. Zhang, and H. Sami (2005), “Does the provision of non-audit services affect investor perceptions of auditor independence?” Auditing: A Journal of Practice and Theory, 24(2), pp. 111–136. Krishnan, J. and R. G. Stephens (1995), “Evidence on opinion shopping from audit opinion conservatism,” Journal of Accounting and Public Policy, 14(3), pp.179-201. Lin, Z. J. and M. Liu (2009), “The determinants of auditor switch from the perspective of corporate governance in China,” An International Review, 17(4), pp. 476–491. Loughran, T. and J. R. Ritter (1995), “The new issues puzzle,” Journal of Finance, 50(1), pp. 23-49. Magnan, M. and D. Cormier (1997), “The impact of forward-looking financial data in IPOs on the quality of financial reporting,” Journal of Fionancial Statement Analysis, 2, pp. 6-17. Menon, K. and D. Williams (1991) “Auditor credibility and initial public offerings.” The Accounting Review, 66(2), pp. 313-332. Nelson, M. W., J. A. Elliott and R. L. Tarpley (2002), “Evidence from auditors about managers’ and auditors’ earnings management decisions,” The Accounting Review, 77(4), pp. 175-202. Palmrose, Z. (1988), “An analysis of auditor litigation and audit serve quality” The Accounting Review, January, 63(1), pp. 55-73 Reed, B. J., M. A. Trombley, and D. S. Dhaliwal (2000), “Demand for audit quality: the case of Laventhol and Horwath’s auditees,” Journal of Accounting Auditing and Finance, 15(2),pp.183-198. Ritter, R. J. (1991). “The long-run performance of initial public offerings,” Journal of Finance. 46(1), pp. 3-27. Roosenboom, P., T. Goot, and G. Mertens. (2003) “Earnings management and initial public offerings: Evidence from the Netherlands.” The International Journal of Accounting, 38(3), pp. 243-266. Schauer, P. C. (2002), “The effects of industry specialization on audit quality: an examination using bid-ask spreads,” Journal of Accounting and Finance Research, 10(1), pp. 76-86 Schipper, K. (1989), “Commentary on earnings management,” Accounting Horizon. 3(4), pp. 91-102 Schwartz, K. B. and K. Menon (1985), “Auditor switches by failing firms,” The Accounting Review, 60(2), pp. 248-261. Teoh, S. H., I. Welch, and T. J. Wong (1998), “Earnings management and the long-run market performance of initial public offerings,” Journal of Finance, 53(6), pp. 1935-1974. Titman, S. and B. Trueman, (1986) “Information quality and the valuation of new issues,” Journal of Accounting and Economics, 8(2), pp. 159-172. Venkataraman R, J. P. Weber and M. Willenborg (2008), “Litigation risk, audit quality, and audit fees: evidence from initial public offering,” The Accounting Review, 83(5), pp. 1315-1345 Willenborg, M. (1999), “Empirical analysis of the economic demand for auditing in the initial public offerings market,” Journal of Accounting Research, 37(1), pp. 225-237. Woo, E. S. and H. C. Koh (2001), “Factors associated with auditor changes: a Singapore study,” Accounting and Business Research, 31(2), pp. 133-144.
摘要: 
更換會計師一直為學術界廣泛討論之議題,其結果隨時空背景更替而有所不同。本研究認為公司首次公開發行前後之盈餘管理行為與財務狀況,將改變公司聘雇會計師之決策,因此將首次公開發行與更換會計師二議題結合,探討公司於公開發行後首次更換簽證會計師之因素,並認為規模相近之事務所能提供相同水準之審計服務,故本研究關注於不同規模事務所間之更換。
本研究以1991年至2010年首次公開發行並於其後更換會計師之公司為樣本,並採用Logistic回歸模型檢定各項假說。實證結果顯示,公司於首次公開發行後,若營運績效變差、管理階層頻繁變動,則其簽證會計師會由大型會計師事務所更換至非大型事務所;若規模擴大,則其簽證會計師會由非大型事務所更換至大型事務所。

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.
URI: http://hdl.handle.net/11455/18855
其他識別: U0005-2806201113195900
Appears in Collections:會計學系所

Show full item record
 

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.