客戶資訊不確定性對其選擇產業專家會計師與審計品質之影響：以基本波動與資訊品質論點分析之

學術產出-Theses

Article View/Open

Publication Export

Google Scholar^TM

政大圖書館

學術資源探索系統

Citation Infomation

No doi shows Citation Infomation

Simple Record
Full Record

題名	客戶資訊不確定性對其選擇產業專家會計師與審計品質之影響：以基本波動與資訊品質論點分析之 The impact of client information uncertainty on auditor specialization choice and audit quality: an analysis based on fundamental volatility and information quality
作者	張謙恆 Chang, Chien Heng
貢獻者	周玲臺 Chou, Ling Tai 張謙恆 Chang, Chien Heng
關鍵詞	資訊不確定基本價值波動資訊品質產業專家會計師選擇審計品質 Information Uncertainty Fundamental Volatility Information Quality Auditor Specialization Choice Audit Quality
日期	2010
上傳時間	29-Sep-2011 16:38:48 (UTC+8)
摘要	過去研究說明具產業專長之會計師仍能在客戶財務資訊不完整情況下，利用其行業特定知識與較高技術能力執行完善的審計工作(Thibodeau 2003; Moroney 2007; Hammersley 2006)。本論文定義資訊不確定性為客戶之財務資訊無法幫助預測公司的價值(Zhang 2006; Autore et al. 2009)。本論文推論若公司的財務報表具有不確定性會需要聘請產業專長會計師以減緩資訊不確定性的程度，並進一步研究具資訊不確定性公司若由非產業專長更換為產業專長會計師是否能提升其審計品質。由於審計工作目的在於提供資訊品質的確認(Dye 1993; Knechel et al. 2008)，審計人員會依據審計客戶的環境，設計和執行適當的審計計劃以減輕資訊不確定性情況。本論文以會計師角度建立一資訊不確定性架構，進一步將資訊不確定性分為基本價值波動不確定性與資訊品質不確定性，並推論產業專長會計師比較能在資訊品質不確定性中發揮其價值。本論文分為兩部分：第一部分檢驗資訊不確定性是否會影響產業專長會計師之選任，第二部分則檢測具資訊不確定性之審計客戶若選擇產業專長會計師之後，其審計品質是否會提升。 Previous studies establish that a specialist auditor has more industry-specific knowledge and higher technological capability that can pertinently benefit situations in which client financial information is incomplete (Thibodeau 2003; Moroney 2007; Hammersley 2006). In this paper, we define information uncertainty as the ambiguity with respect to the implications of new information concerning a firm’s value (Zhang 2006; Autore et al. 2009). Because some financial statements present information in uncertain terms, we infer that companies whose financial statements provide uncertain information demand specialist auditors to alleviate the extent of information uncertainty. We further examine the improvements on audit quality made by those companies under information uncertainty which chose to switch from non-specialist auditors to specialist ones. As an assurance of information quality (Dye 1993; Knechel et al. 2008), an auditor, based on his knowledge of the auditee and its environment, will alleviate the uncertainty level of the auditee’s financial information through designing and executing an appropriate audit plan. We build a framework of information uncertainty and develop comprehensive measurements of information uncertainty from the auditor’s point of view. Moreover, this study disentangles the information uncertainty effects into fundamental volatility uncertainty and information quality uncertainty, and proposes that specialist auditors manifest their merits more under information quality uncertainty than under fundamental volatility uncertainty. In the first part of this study, we examine the auditors chosen by companies whose financial statements are characterized by information uncertainty. Previous studies on auditor choice address many reasons why companies switch their auditors (Lennox 2000; Carcello and Neal 2003; Blouin et al. 2007). Information uncertainty makes stakeholders lower their reliance upon company financials and even downgrade the filers, triggering negative stock price reactions (Merton 1987; Beneish et al. 2005; Beneish et al. 2008; Hammersley et al. 2008). Based on prior research, we can infer that a company under information uncertainty chooses to hire a specialist auditor to signal the credibility of the financial statements and improve market perception. We hypothesize that companies suffering uncertainty demand specialist auditors to alleviate their information uncertainty. The auditor’s information role is to ensure the reliability of financial information, and a specialist auditor is equipped with superior audit knowledge and technology. Therefore, we further infer that a company whose specific information uncertainty is attributable to information quality issues (rather than fundamental volatility issues) is more inclined to choose a specialist auditor. This is because a specialist auditor improves the credibility of financial information instead of being involved with the client’s business decisions. We use an auditor switching sample of U.S. companies from 2001-2009 to examine whether the information uncertainty is an issue of auditor choice or not. Consistent with our conjecture, companies under information uncertainty prefer to hire specialist auditors. Evidence partially supports that relative to companies under fundamental volatility uncertainty, companies suffering information quality uncertainty are more inclined to choose specialist auditors. In the second part of this study, we find evidence for the economic consequences of upgrading switches to a specialist auditor when the company is experiencing information uncertainty. After the Sarbanes-Oxley Act (hereafter, SOX), many companies began to take the cost-effect issue into consideration; they ultimately decided to go private (Zhang 2006; Engel et al. 2007) in order to avoid the high-cost of Section 404 or switch to a non-Big N audit firm (Calderon et al. 2007). There`s no such thing as free lunch; the specialist auditor usually has greater ability and concomitant higher charges (Craswell et al. 1995; DeFond et al. 2000; Francis et al. 2005; Cahan et al. 2008). It is natural to question whether every company needs to engage specialist auditors if it has to pay high audit fees. In this paper, we attempt to determine in which circumstances specialist auditors can make a significant difference in improving audit quality. We investigate the relationship between auditor specialization and audit quality in an information uncertainty setting using an auditor switching sample taken from 2001 to 2009 in the United States. We examine ex post facto whether (1) specialist auditors improve audit quality more than their non-specialist counterparts; and (2) specialist auditors manifest their merits more under information quality uncertainty than the fundamental volatility uncertainty. Since the value of auditor industry specialization is reflected by the perceived and actual audit quality (Balsam et al. 2003; Nagy 2005), we examine both earnings response coefficient (ERC) and accruals quality to proxy audit quality (DAC). In both models, the audit quality of companies that suffer fundamental volatility uncertainty along with comprehensive uncertainty is not enhanced substantially following upgrade switching to a specialist auditor. We find strong empirical results that demonstrate companies under information quality uncertainty show significant improvements in audit quality after switching to specialist auditors. However, specialist auditors are significantly more capable of mitigating the information quality uncertainty than the fundamental volatility uncertainty. That is, auditor specialization is a critical solution when companies encounter information quality uncertainty.
參考文獻	II. REFERENCE Abbott, L., and S. Parker. 2000. Auditor selection and audit committee characteristics. Auditing: A Journal of Practice & Theory 19 (2): 47–66. Ajinkya, B., S. Bhojraj, and P. Sengupta. 2005. The governance role of institutional investors and outside directors on the properties of management earnings forecasts. Journal of Accounting Research 43 (3): 343–376. Almutairi A., K. Dunn, and T. Skantz. 2009. Auditor tenure, auditor specialization, and information asymmetry. Managerial Auditing Journal 24 (7): 600–623. Anthony, J. H. and K. Ramesh. 1992. Association between accounting performance measures and stock prices. Journal of Accounting and Economics 15: 203–227. Arbel, A., and P. Strebel. 1982. The neglected and small firm effects. Financial Review 17: 201–218. Arruñada, B. 1999. The economic of audit quality: Private incentives and regulation of audit and nonaudit services. Norwell MA: Kluwer Academic Publishers. Ashbaugh–Skaife, H., D. Collins, and W. Kinney. 2007. The discovery and reporting of internal control deficiencies prior to SOX–mandated audits. Journal of Accounting and Economics 44: 166–192. Ashbaugh–Skaife, H., D. Collins, W. Kinney, and R. LaFond. 2008. The effect of SOX internal control deficiencies and their remediation on accrual quality. The Accounting Review 83 (1): 217–250. Ashton, A. 1991. Experience and error frequency knowledge as potential determinants of expertise. The Accounting Review 66 (April): 218–239. Autore, D., R. Billingsley, and M. Schneller. 2009. Information uncertainty and auditor reputation. Journal of Banking & Finance 33 (2): 183–192. Baber, W., K, Kumar, and T. Verghese. 1995. Client security price reactions to the Laventhol and Horwath bankruptcy. Journal of Accounting Research 33 (2): 385–395. Balsam, S., J. Krishnan, and J. S. Yang. 2003. Auditor industry specialization and earnings quality. Auditing: A Journal of Practice & Theory 22 (September): 71–97. Balvers, R., B. McDonald, and R. Miller. 1988. Underpricing of new issues and the choice of auditor as a signal of investment banker reputation. The Accounting Review 63: 605-621. Barry, C., and S. Brown. 1984. Differential information and the small firm effect. Journal of Financial Economics 13: 283–294. Beasley, M. and K. Petroni. 2001. Board independence and audit–firm type. Auditing: A Journal of Practice & Theory 20 (1): 97–114. Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. The Accounting Review 71 (4): 443–465. Beatty, R. 1989. Auditor reputation and the pricing of initial public offerings. The Accounting Review 64: 693–709. Bédard, J. C., and S. F. Biggs. 1991. The effect of domain-specific experience on evaluation of management representation in analytical procedures. Auditing: A Journal of Practice & Theory 10 (Supplement): 77–95. Bédard, J., S. M. Chtourou, and L. Courteau. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory 23 (2): 13–35. Beneish, M. D., M. B. Billings, and L. D. Hodder. 2008. Internal control weaknesses and information uncertainty. The Accounting Review 83 (3): 665–703. Beneish, M., P. Hopkins, I. Jansen, and R. Martin. 2005. Do auditor resignations reduce uncertainty about the quality of firms’ financial reporting? Journal of Accounting and Public Policy 24: 357–390. Black, E. L. 1998. Which is more value relevant: earnings or cash flow? A life cycle examination. Journal of Financial Statement Analysts 4: 40–56. Blouin, J., B. M. Grein, and B. R. Rountree. 2007. An analysis of forced auditor change: The case of former Arthur Andersen clients. The Accounting Review 82 (3): 621-650. Bonner, S., and B. Lewis. 1990. Determinants of auditor expertise. Journal of Accounting Research 28 (Supplement): 1–20. Bronson, S. N., J. V. Carcello, and K. Raghunandan. 2006. Firm characteristics and voluntary management reports on internal control. Auditing: A Journal of Practice & Theory 25 (2): 25–39. Bushman, R., Q. Chen, E. Engel, and A. Smith. 2004. Financial accounting information, organizational complexity and corporate governance systems. Journal of Accounting and Economics 37: 167–201. Cahan, S., J. Godfrey, J. Hamilton, and D. C. Jeter. 2008. Auditor specialization, auditor dominance, and audit fees: The role of investment opportunities. The Accounting Review 83 (6): 1393–1423. Carcello, J. V., D. R. Hermanson, A. Klein, and T. L. Neal. 2008. Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Working paper, The University of Tennessee. Carcello, J. V., and T. L. Neal. 2003. Audit committee characteristics and auditor dismissals following “new” going-concern reports. The Accounting Review 78 (1): 93-117. Carcello, J. V., D. R. Hermanson, T. L. Neal, and R. A. Riley. 2002. Board characteristics and audit fees. Contemporary Accounting Research 19 (3): 365–384. Caves, R. E. 1992. American industry: Structure, conduct, performance. Englewood Cliffs, NJ: Prentice Hall. Chandler, A. 1962. Strategy and structure: chapters in the history of American industrial enterprise. Cambridge, MA: MIT. Chaney, P., D. Jeter, and L. Shivakumar. 2004. Self-selection of auditors and audit pricing in private firms. The Accounting Review 79: 51-72. Chen, C., C. Lin, and Y. Lin. 2008. Audit partner tenure, audit firm tenure, and discretionary accruals: Does long auditor tenure impair earnings quality? Contemporary Accounting Research 25 (2): 415-445. Chin, C., S. Tsao and H. Chi. 2005. Trademark value and accounting performance: Analysis from corporate life cycle. The Journal of American Academy of Business, Cambridge 7 (1): 106–112. Chung, H., and S. Kallapur. 2003. Client importance, nonaudit services, and abnormal accruals. The Accounting Review 78 (4): 931–955. Copley, P., and E. Douthett. 2002. The association between auditor choice, ownership retained, and earnings disclosure by firms making initial public offerings. Contemporary Accounting Research 19 (1): 49–75. Core, J., R. Holthausen, and D. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51: 371–406. Daniel, K., D. Hirshleifer, and A. Subrahmanyam. 1998. Investor psychology and security market over- and under-reactions. Journal of Finance 53: 1839–1886. Daniel, K., D. Hirshleifer, and A. Subrahmanyam. 2001. Overconfidence, arbitrage, and equilibrium asset pricing. Journal of Finance 56: 921–965. Datar, S., G. Feltham, and J. Hughes. 1991. The role of audits and audit quality in valuing new issues. Journal of Accounting and Economics 14 (1): 3-49. DeAngelo, L. E. 1981. Auditor size and audit quality. Journal of Accounting and Economics 3 (December): 183–199. Dechow, P., and D. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons 14 (2): 235–250. Dechow, P. M., and W. Ge. 2006. The persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly. Review of Accounting Studies 11 (September): 253-296 Dechow, P., and I. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77 (Supplement): 35–59. DeFond, M. L. 1992. The association between changes in client firm agency costs and auditor switching. Auditing: A Journal of Practice & Theory 11 (Spring): 16-31. DeFond, M., R. Hann, and X. Hu. 2005. Does the market value financial expertise on audit committees of boards of directors? Journal of Accounting Research 43 (2): 153–193. Dess, G., and D.Beard. 1984. Dimensions of organizational environments. Administrative Science Quarterly 29: 313–327. Dhaliwal, D. S., V. Naiker, and F. Navissi. 2007. Audit committee financial expertise, corporate governance, and accruals quality: An empirical analysis. Working paper, The University of Arizona. Dopuch, N., and D. Simunic. 1980. The nature of competition in the auditing profession: A descriptive and normative view. Regulation and the Accounting Profession. J. Buckley and F. Weston. Belmont, CA: Lifetime Learning Publications. Doyle, J., W. Ge, and S. McVay. 2007. Determinants of weaknesses in internal control over financial reporting. Journal of Accounting and Economics 44: 193–223. Drago, W. A. 1998. Predicting organizational objectives: role of stakeholder influence and uncertainty of environmental sectors. Management Research News 21 (9): 16–28. Dunn, K. A. and B. W. Mayhew. 2004. Audit Firm industry specialization and client disclosure quality. Review of Accounting Studies 9: 35–58. Dye, R. A. 1993. Auditing standards, legal liability, and auditor wealth. The Journal of Political Economy 101: 887–904. Elder, R., M. Beasley and A. Arens. 2001. Auditing and assurance services: An intergrated approach. Thirteen Edition. New Jersey: Pearson Prentice Hall. Elliott, R. K., and P. D. Jacobson. 1998, In search of solutions: SEC independence concepts. The CPA Journal 68 (4): 14–20. Epstein, L., and M. Schneider. 2008. Ambiguity, information quality, and asset pricing. Journal of Finance 63 (1): 197–228. Ettredge, M., S. Kwon, and C. Lim. 2009. Client, industry, and country factors affecting choice of Big N industry expert auditors. Journal of Accounting, Auditing & Finance 24 (3): 433–467. Ettredge, M.; C.Li, and L.Sun. 2006. The impact of SOX section 404 internal control quality assessment on audit delay in the SOX era. Auditing: a Journal of Practice & Theory 25 (2): 1–23. Fairfield, P. M. 2006. Discussion of the persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly. Review of Accounting Studies 11 (September): 297-203. Fama, E. 1980. Agency problems and the theory of the firm. The Journal of Political Economy 88: 288–307. Fama, E., and M. G. Jensen. 1983. The separation of ownership and control. The Journal of Law & Economics 26: 301–325. Fan, J. and T. Wong. 2005. Do external auditors perform a corporate governance role in emerging markets? Evidence from East Asia. Journal of Accounting Research 43 (March): 35–72. Fortin, S. and J. Pittman. 2007. The role of auditor choice in debt pricing in private firms. Contemporary Accounting Research 24(3): 859–896. Francis, J., E. Maydew, and H. C. Sparks. 1999. The role of big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory: 18: 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): 663–82. Francis, J. R., K. Reichelt, and D. Wang. 2005. The pricing of national and city-specific reputations for industry expertise in the U.S. audit market. The Accounting Review 80 (January): 113–36. Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2005. The market pricing of accruals quality. Journal of Accounting and Economics 39: 295–327. Francis, J., R. Lafond, P. Olsson, and K. Schipper. 2007. Information uncertainty and post-earnings-announcement-drift. Journal of Business Finance & Accounting 34(3-4): 403–433. Frankel, R., M. Johnson, and K. Nelson. 2002. The relation between auditors` fees for non-audit services and earnings quality. The Accounting Review 77 (Supplement): 71-105. Ge, W., and S. McVay. 2005. The disclosure of material weaknesses in internal control after the Sarbanes–Oxley Act. Accounting Horizons 19 (3): 137–158. General Accounting Office (GAO). 2003. Public accounting firms: Mandated study on consolidation and competition. GAO Report 03-864. Washington, D.C.: Government Printing Office. Ghosh, D., and L. Olsen. 2009. Environmental uncertainty and managers’ use of discretionary accruals. Accounting, Organizations and Society 34: 188–205. Godfrey, J., and J. Hamilton. 2005. The impact of R&D intensity on demand for specialist auditor services. Contemporary Accounting Research 22 (1): 55–93. Gomez–Mejia, L. R. 1992. Structure and process of diversification, compensation strategy, and firm performance. Strategic Management Journal 13: 381–397. Gramling, A. A., and D. N. Stone. 1998. A review and evaluation of industry concentration, specialization, experience and knowledge research in auditing. Working paper, University of Illinois. Griffin, D. and A. Tversky. 1992. The weighing of evidence and the determinants of confidence. Cognitive Psychology 24: 411–435. Guedhami O., and J. Pittman. 2006. Ownership concentration in privatized firms: The role of disclosure standards, auditor choice, and auditing infrastructure. Journal of Accounting Research 44: 889–929. Hammersley, J. S. 2006. Pattern identification and industry–specialist auditors. The Accounting Review 81: 309–336. Hirshleifer, D. 2001. Investor psychology and asset pricing. Journal of Finance 56: 1533–1596. Hogan, C. 1997. Costs and benefits of audit quality in the IPO market: A self-selection analysis. The Accounting Review 72 (1): 67–86. Hogan, C. E. and M. S. Wilkins. 2008. Evidence on the audit risk model: Do auditors increase audit fees in the presence of internal control deficiencies? Contemporary Accounting Research 25 (1): 219–242. Hoitash, R., U. Hoitash, and J. Bédard. 2008. Internal control quality and pricing under the Sarbanes–Oxley Act. Auditing: A Journal of Practice & Theory 28 (1): 105–126. Hoitash, R., U. Hoitash, and J. Bédard. 2009. Corporate governance and internal control over financial reporting: A comparison of regulatory regimes. The Accounting Review 84 (3): 839–867. Holthausen, R., and R. Verrecchia. 1990. The effect of informedness and consensus on price and volume behavior. The Accounting Review 65 (1): 191–208. Jiang, G., C. Lee, Y. Zhang, 2005. Information uncertainty and expected returns. Review of Accounting Studies 10 (2-2): 185–221. Kanagaretnam, K., G. Lobo, and D. Whalen. 2007. Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy 26: 497–522 Karamanou, I., and N. Vafeas. 2005. The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research 43 (2): 453–486. Kim, O., and R. Verrecchia. 1991. Trading volume and price reactions to public announcements. Journal of Accounting Research 29 (2): 302-22. Klein, A. 2002b. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (August): 375–400. 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 & Theory 26 (1): 19–45. Knechel R, L Niemi and S Sundgren. 2008. Attributes affecting auditor choice. International Journal of Auditing 12: 65–88. Kreutzfeldt, R., and W. Wallace. 1986. Error characteristics and audit populations: Their profile and relationship to environmental factors. Auditing: A Journal of Practice & Theory 5 (Fall): 20–43. Krishnan, G. V. 2003. Does big 6 auditor industry expertise constrain earnings management. Accounting Horizons 17 (supplement): 1–16. Krishnan, G. V. 2005. The association between big 6 auditor industry expertise and the asymmetric timeliness of earnings. Journal of Accounting, Auditing & Finance 20 (3): 209–228. Krishnan, J., and J. Krishnan. 1997. Litigation risk and auditor resignations. The Accounting Review 72 (October): 539-560. Lennox, C. 1999. Audit quality and auditor size: An evaluation of reputation and deep pockets hypotheses. Journal of Business Finance and Accounting 26(7-8): 779–805. Lennox, C., 2000. Do companies successfully engage in opinion shopping: Evidence from the UK? Journal of Accounting and Economics 29: 321-37. Lev, B. 1989. On the usefulness of earnings: lessons and directions from two decades of empirical research. Journal of Accounting Research 27 (Supplement): 153–192. Libby, R. 1985. Availability and the generation of hypotheses in analytical review. Journal of Accounting Research 23 (Autumn): 648–667. Libby, R., and D. Frederick. 1990. Experience and the ability to explain audit findings. Journal of Accounting Research 28 (Autumn): 348–367. Lim, C. and H. Tan. 2008. Non-audit service fees and audit quality: The impact of auditor specialization. Journal of Accounting Research 46 (1): 199–246. Lobo, G., and J.Zhou. 2001. Disclosure quality and earnings management. Asia–Pacific Journal of Accounting and Economics 8 (1): 1–20. Low, K. Y. 2004. The effects of industry specialization on audit risk assessments and audit–planning decisions. The Accounting Review 79: 201–219. Lys, T., and R. Watts. 1994. Lawsuits against auditors. Journal of Accounting Research 32 (3): 65–102. Mansi, S., W. Maxwell, and M. Darius. 2004. Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research 42 (September): 755–793. Mayhew, B., and M. Wilkins. 2003. Audit firm industry specialization as a differentiation strategy: Evidence from fees charged to firms going public. Auditing: A Journal of Practice & Theory 22 (2): 33–52. Menon, K., and D. D. Williams. 1994. The insurance hypothesis and market prices. The Accounting Review 69 (2): 327–342. Menon, K. and D. Williams. 2008. Management turnover following auditor resignations. Contemporary Accounting Research 25 (Summer): 567-604. Merton, R. C. 1987. A simple model of capital market equilibrium with incomplete information. Journal of Finance 42: 483–510. Moroney, R. 2007. Does industry expertise improve the efficiency of audit judgment? Auditing: A Journal of Practice & Theory 26 (2): 69–94. Neal, T. L., and R. R. Riley, Jr. 2004. Auditor industry specialist research design. Auditing: A Journal of Practice & Theory 23 (2): 169–177. Owhoso, V. E., W. F. Messier, Jr., and J. G. Lynch, Jr. 2002. Error detection by industry–specialized teams during sequential audit review. Journal of Accounting Research 40: 883–900. Pittman, J. A., and S. Fortin. 2004. Auditor choice and the cost of debt capital for newly public firms. Journal of Accounting and Economics 37: 113–136. Richardson, V. 2000. Information asymmetry and earnings management: Some evidence. Review of Quantitative Finance and Accounting 15 (4): 325–347. Rink, D., and J. Swan. 1979. Product life cycle research: A literature review. Journal of Business Research 78 (September): 219–242. Romanus, R., J. Maher, and D. Fleming. 2008. Auditor industry specialization, auditor changes, and accounting restatements. Accounting Horizons 22 (4): 389–413. Schwartz, K. B., and K. Menon. 1985. Auditor switches by failing firms. The Accounting Review 60 (April): 248-261. Securities and Exchange Commission (SEC). 2003. Final rule: Management’s reports on internal control over financial reporting and certification disclosure in Exchange Act periodic reports. Release Nos. 33-8238; 34-47986. June 5. Washington, D.C.: Government Printing Office. Shields, M., I. Solomon, and O. Whittington. 1996. An experimental investigation of industry specialization and auditors` knowledge structures. Working paper, Michigan State University. Simunic, D. 1980. The pricing of audit services: theory and evidence. Journal of Accounting Research 18 (1): 161–190. Solomon, I., M. D. Shields, and O. R. Whittington. 1999. What do industry–specialist auditors know? Journal of Accounting Research 37: 191–208. Taso, Shou-Min, Wei-Hao Lien, and Yi-Tzu Liu. 2010. Accrual Anomaly over the Firm Life Cycle. The International Journal of Accounting Studies 51 (July): 107–142. Taylor, M. 2000. The effects of industry specialization on auditors’ inherent risk assessments and confidence judgments. Contemporary Accounting Research 17: 693–712. Thibodeau, J. C. 2003. The development and transferability of task knowledge. Auditing: A Journal of Practice & Theory 22: 47–68. Titman, S., and B. Trueman. 1986. Information quality and the valuation of new issues. Journal of Accounting and Economics 8 (2): 159-172. Wallace, W. 1980. The economic role of the audit in free and regulated markets. The Touche Ross and Co. Aid to Education Program. Reprinted in Auditing Monographs New York Macmillan Publishing Co., 1985. Available on the internet at: <http://raw.rutgers.edu/raw/wallace/homepage.html>. Watson, J. 2002. Strategy: An Introduction to Game Theory. New York: W.W. Norton & Company. Weber, J., and M. Willenborg. 2003. Do expert informational intermediaries add value? Evidence from auditors in microcap initial public offerings. Journal of Accounting Research 41: 681–720. Willenborg, M. 1999. Empirical analysis of the economic demand for auditing in the initial public offerings market. Journal of Accounting Research 37 (Spring): 225–268. Wright, S., and A. Wright. 1997. The effect of industry experience on hypothesis generation and audit planning decisions. Behavioral Research in Accounting 9: 273–294. Voicu, Mălina. 2011. Effect of nationalism on religiosity in 30 European countries. European Sociological Review first published online January 2, 2011. doi:10.1093/esr/jcq067. Yermack, D. 1996. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40: 185–212. Zhang, F. 2006. Information uncertainty and stock returns. The Journal of Finance 61: 105–137. III.REFERENCE Abbott, L., and S. Parker. 2000. Auditor selection and audit committee characteristics. Auditing: A Journal of Practice & Theory 19 (2): 47–66. Ajinkya, B., S. Bhojraj, and P. Sengupta. 2005. The governance role of institutional investors and outside directors on the properties of management earnings forecasts. Journal of Accounting Research 43 (3): 343–376. Anthony, J. and K. Ramesh. 1992. Association between accounting performance measures and stock prices. Journal of Accounting and Economics 15: 203–227. Ashbaugh, H., R. LaFond, and B. Mayhew. 2003. Do nonaudit services compromise auditor independence? Further evidence. The Accounting Review 78 (3): 611–640. Ashton, A. H. 1991. Experience and error frequency knowledge as potential determinants of expertise. The Accounting Review 66 (April): 218–239. Autore, D., R. Billingsley, and M. Schneller. 2009. Information uncertainty and auditor reputation. Journal of Banking & Finance 33 (2): 183–192. Balsam, S., J. Krishnan, and J. S. Yang. 2003. Auditor industry specialization and earnings quality. Auditing: A Journal of Practice & Theory 22 (September): 71–97. Bartov, E., F. Gul, and J. Tsui. 2000. Discretionary-accruals models and audit qualifications. Journal of Accounting and Economics 30 (3): 421-452. Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. The Accounting Review 71 (4): 443–465. Beattie, V., and S. Fearnley. 1995. The importance of audit firm characteristics and the drivers of auditor change in UK listed companies. Accounting and Business Research 26 (100): 227–239. Becker, C., M. DeFond, J. Jiambalvo, and K. Subramanyam. 1998. The effect of audit quality on earnings management. Contemporary Accounting Research 15 (1): 4–24. Bédard, J. and S. Biggs. 1991. The effect of domain-specific experience on evaluation of management representation in analytical procedures. Auditing: A Journal of Practice & Theory 10 (Supplement): 77–95. Bédard, J., S. M. Chtourou, and L. Courteau. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory 23 (2): 13–35. Beneish, M. D., M. B. Billings, and L. D. Hodder. 2008. Internal control weaknesses and information uncertainty. The Accounting Review 83 (3): 665–703. Black, E. L. 1998. Which is more value relevant: earnings or cash flow? A life cycle examination. Journal of Financial Statement Analysts 4: 40–56. Bonner, S., and B. Lewis. 1990. Determinants of auditor expertise. Journal of Accounting Research 28 (Supplement): 1–20. Bushman, R., Q. Chen, E. Engel, and A. Smith. 2004. Financial accounting information, organizational complexity and corporate governance systems. Journal of Accounting and Economics 37: 167–201. Butler, M., A. Leone, and M. Willenborg. 2004. An empirical analysis of auditor reporting and its association with abnormal accruals. Journal of Accounting and Economics 37 (2): 139-165. Cahan, S., J. Godfrey, J. Hamilton, and D. C. Jeter. 2008. Auditor specialization, auditor dominance, and audit fees: The role of investment opportunities. The Accounting Review 83 (6): 1393–1423. Cairney, T. D., and G. R. Young. 2006. Homogeneous industries and auditor specialization: An indication of production economies. Auditing: A Journal of Practice & Theory 25 (1): 49–67. Calderon, T., E. Ofobike, and J. Cheh. 2007. Is there transparency in auditor change disclosures? The Journal of Applied Business Research 23 (3): 61–74. Carcello, J. V., and A. L. Nagy. 2004. Audit firm tenure and fraudulent financial reporting. Auditing: A Journal of Practice & Theory 23 (September): 55–69. Carcello, J. V., D. R. Hermanson, A. Klein, and T. L. Neal. 2008. Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Working paper, The University of Tennessee. Carcello, J. V., D. R. Hermanson, T. L. Neal, and R. A. Riley. 2002. Board characteristics and audit fees. Contemporary Accounting Research 19 (3): 365–384. Carey, P., and R. Simnett. 2006. Audit partner tenure and audit quality. The Accounting Review 81 (3): 563-676. Carhart, M. 1997. `On persistence in mutual fund performance. Journal of Finance 52 (1): 57-82. Carter, M. E., and B. S. Soo. 1999. The relevance of Form 8-K reports. Journal of Accounting Research 37 (Spring): 119–132. Chin, C. L., S. M. Tsao and H. Y. Chi. 2005. Trademark value and accounting performance: Analysis from corporate life cycle. The Journal of American Academy of Business, Cambridge 7 (1): 106–112. Choi, J-H., and R. Doogar. 2005. Auditor tenure and audit quality: Evidence from going-concern qualifications issued during 1996–2001. Working paper, Hong Kong University of Science and Technology. Chung, H., and S. Kallapur. 2003. Client importance, non-audit fees, and abnormal accruals. The Accounting Review 78 (4): 931-955. Cohen, D., A. Dey, and T. Lys. 2005. Trends in earnings management in the pre- and post-Sarbanes-Oxley periods. Working paper. Northwestern University. Collins, D., and S. Kothari. 1989. An analysis of inter-temporal and cross-sectional determinants of earnings response coefficients. Journal of Accounting and Economics 17 (July): 143–182. Core, J. E., R. W. Holthausen, and D. F. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51: 371–406. Craswell, J. R. Francis, and S. L. Taylor. 1995. Auditor brand name reputations and industry specializations. Journal of Accounting and Economics 20: 297–322. Davidson, W., and D. Gribbin. 1995. The board of directors’ and prior audit opinions influence on the stock market reactions to announced auditor changes: An agency perspective. Working paper, Southern Illinois University. Dechow, P., and D. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons 14 (2): 235–250. Dechow, P., and I. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77 (Supplement): 35–59. DeFond, M., and J. Jiambalvo. 1994. Debt covenant violation and manipulation of accruals. Journal of Accounting and Economics 17 (1-2): 145–176. DeFond, M., J. Francis, and T. Wong. 2000. Auditor industry specialization and market segmentation: Evidence from Hong Kong. Auditing: A Journal of Practice & Theory 19 (Spring): 49–66. DeFond, M., R. Hann, and X. Hu. 2005. Does the market value financial expertise on audit committees of boards of directors? Journal of Accounting Research 43 (2): 153–193. Dess, G., and Beard, D. 1984. Dimensions of organizational environments. Administrative Science Quarterly 29: 313–327. Dhaliwal, D. S., V. Naiker, and F. Navissi. 2007. Audit committee financial expertise, corporate governance, and accruals quality: An empirical analysis. Working paper, The University of Arizona. Dimson, E., and P. Marsh. 1986. Event study methodologies and the size effect. Journal of Financial Economics 17 (September): 113–142. Drago, W. A. 1998. Predicting organizational objectives: Role of stakeholder influence and uncertainty of environmental sectors. Management Research News 21 (9): 16–28. Dunn, J., D. Hillier, and A. Marshall. 1999. The market reaction to auditor resignations. Accounting and Business Research 29 (Spring): 95–108. Dunn, K. A. and B. W. Mayhew. 2004. Audit Firm industry specialization and client disclosure quality. Review of Accounting Studies 9: 35–58. Dye, R. A. 1993. Auditing standards, legal liability, and auditor wealth. The Journal of Political Economy 101: 887–904. Easley, D. and M. O’Hara. 2004. Information and the cost of capital. Journal of Finance 59 (4): 1553-1583. Ecker, F., J. Francis, I. Kim, P. Olsson, and K. Schipper. 2006. A returns-based representation of earnings quality. The Accounting Review 81: 749–780. Elder, R., M. Beasley and A. Arens. 2001. Auditing and assurance services: an intergrated approach. Thirteen Edition. New Jersey: Pearson Prentice Hall. Engel, E., R.M. Hayes, and X. Wang. 2007. The Sarbanes-Oxley Act and firms’ going–private decisions. Journal of Accounting & Economics 44: 116–145. Epstein, L., and M. Schneider. 2008. Ambiguity, information quality, and asset pricing. Journal of Finance 63 (1): 197–228. Fama, E. 1980. Agency problems and the theory of the firm. The Journal of Political Economy 88: 288–307. Fama, E., and M. G. Jensen. 1983. The separation of ownership and control. The Journal of Law & Economics 26: 301–325. Foster, G., C. Olsen, and T. Shevlin. 1984. Earnings releases, anomalies, and the behavior of securities returns. The Accounting Review 59 (October): 574–603. Francis, J., E. Maydew, and H.Sparks. 1999. The role of Big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory 18 (2): 17-34. Francis, J., K. Reichelt, and D. Wang. 2005. The pricing of national and city-specific reputations for industry expertise in the U.S. audit market. The Accounting Review 80 (January): 113–36. Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2005. The market pricing of accruals quality. Journal of Accounting and Economics 39: 295–327. Francis, J., R. Lafond, P. Olsson, and K. Schipper. 2007. Information Uncertainty and Post-Earnings-Announcement-Drift. Journal of Business Finance & Accounting 34(3-4): 403–433. Frankel, R., M. Johnson, and K. Nelson. 2002. The relation between auditors’ fees for nonaudit services and earnings quality. The Accounting Review 77 (Supplement): 71–105. Freeman, R. 1987. The association between accounting earnings and security returns for large and small firms. Journal of Accounting and Economics 9 (July): 195–228. Fried, D., and A. Schiff. 1981. CPA switches and associated market reactions. The Accounting Review 56 (April): 326–341. Geiger, M., and D. North. 2006. Does hiring a new CFO change things? An investigation of changes in discretionary accruals. The Accounting Review 81 (4): 781–809. General Accounting Office (GAO). 2003. Public accounting firms: Mandated study on consolidation and competition. GAO Report 03-864. Washington, D.C.: Government Printing Office. Ghosh, A., and D. Moon. 2005. Auditor tenure and perceptions of audit quality. The Accounting Review 80 (2): 585–612. Ghosh, D. and L. Olsen. 2009. Environmental uncertainty and managers’ use of discretionary accruals. Accounting, Organizations and Society 34: 188–205. Godfrey, J., and J. Hamilton. 2005. The impact of R&D intensity on demand for specialist auditor services. Contemporary Accounting Research 22 (1): 55–93. Hammersley, J. S. 2006. Pattern identification and industry-specialist auditors. The Accounting Review 81: 309–336. Hoitash, R., U. Hoitash, and J.C. Bédard. 2009. Corporate governance and internal control over financial reporting: A comparison of regulatory regimes. The Accounting Review 84 (3): 839–867. Holthausen, R., and R. Verrecchia. 1990. The effect of informedness and consensus on price and volume behavior. The Accounting Review 65 (1): 191–208. Jensen, M. and W. Meckling. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economies 3: 305–360. Johnson, V., I. Khurana, and J. Reynolds. 2002. Audit-firm tenure and the quality of financial reports. Contemporary Accounting Research 19 (4): 637–660. Johnson, W. B., and T. Lys. 1990. The market for audit services. Journal of Accounting and Economics 12 (January): 281–308. Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29 (2): 193–228. Kanagaretnam, K., G. Lobo, and D. Whalen. 2007. Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy 26: 497–522 Kaplan, S. E., E. F O’Donnell, and B. M Arel. 2008. The influence of auditor experience on the persuasiveness of information provided by management. Auditing: A Journal of Practice & Theory 27 (1): 67–83. Karamanou, I., and N. Vafeas. 2005. The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research 43 (2): 453–486. Kim, O., and R. Verrecchia. 1991. Trading volume and price reactions to public announcements. Journal of Accounting Research 29 (2): 302–322. Klein, A. 2002b. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (August): 375–400. Kluger, B., and D. Shields. 1989. Auditor changes, information quality and bankruptcy prediction. Managerial and Decision Economics 10 (December): 275–282. 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 & Theory 26 (1): 19–45. Kothari, S. P., and C. Wasley. 1989. Measuring security price performance in size-clustered samples. The Accounting Review 64 (April): 228–249. Kothari, S., A..Leone, and C. Wasley. 2005. Performance matched discretionary accruals. Journal of Accounting and Economics 39 (1): 163–197. Kreutzfeldt, R., and W. Wallace. 1986. Error characteristics and audit populations: Their profile and relationship to environmental factors. Auditing: A Journal of Practice & Theory 5 (Fall): 20–43. Krishnan, G. V. 2003. Does big 6 auditor industry expertise constrain earnings management. Accounting Horizons 17 (supplement): 1–16. Krishnan, G. V. 2005. The association between big 6 auditor industry expertise and the asymmetric timeliness of earnings. Journal of Accounting, Auditing & Finance 20 (3): 209–228. Kwon, S., C. Lim, and P. Tan. 2007. Legal systems and earnings quality: The role of auditor industry specialization. Auditing: A Journal of Practice & Theory 26 (2): 25–55. Lambert, R., C. Leuz, and R. Verrecchia. 2007. Accounting information, disclosure, and the cost of capital. Journal of Accounting Research 45 (2): 385–420. Libby, R. 1985. Availability and the generation of hypotheses in analytical review. Journal of Accounting Research 23 (Autumn): 648–667. Libby, R. and J. Luft. 1993. Determinants of judgment performance in accounting settings: Ability, knowledge, motivation, and environment. Accounting, Organizations and Society 18 (5): 425–450. Libby, R., and D. Frederick. 1990. Experience and the ability to explain audit findings. Journal of Accounting Research 28 (Autumn): 348–367. Lobo, G., and J. Zhou. 2001. Disclosure quality and earnings management. Asia–Pacific Journal of Accounting and Economics 8 (1): 1–20. Low, K. Y. 2004. The effects of industry specialization on audit risk assessments and audit-planning decisions. The Accounting Review 79: 201–219. Mascarenhas, D., F. Cahan, and V. Naiker. 2010. The effect of audit specialists on the informativeness of discretionary accruals. Journal of Accounting, Auditing & Finance 25 (1): 53–84. Menon, K. and D. Williams. 2008. Management turnover following auditor resignations. Contemporary Accounting Research 25 (Summer): 567-604. Moroney, R. 2007. Does industry expertise improve the efficiency of audit judgment? Auditing: A Journal of Practice & Theory 26 (2): 69–94. Myers, J., L. Myers, and T. Omer. 2003. Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The Accounting Review 78 (3): 779–799. Nagy, A. 2005. Mandatory audit fir turnover, financial reporting quality, and client bargaining power: The case of Arthur Andersen. Accounting Horizons 19 (June): 51–68. Nelson, M., J. Elliott, and R. Tarpley. 2002. Evidence from auditors about managers’ and auditors’ earnings management decisions. The Accounting Review 77 (supplement): 175-202. Nichols, D., and D. Smith. 1983. Auditor credibility and auditor changes. Journal of Accounting Research 21 (Autumn): 534–544. Owhoso, V. E., W. F. Messier, Jr., and J. G. Lynch, Jr. 2002. Error detection by industry-specialized teams during sequential audit review. Journal of Accounting Research 40: 883–900. Reynolds, J., and J. Francis. 2000. Does size matter? The influence of large clients on office-level auditor reporting decisions. Journal of Accounting and Economics 30 (3): 375–400. Richardson, V. 2000. Information asymmetry and earnings management: Some evidence. Review of Quantitative Finance and Accounting 15 (4): 325–347. Romanus, R. N., J. J. Maher, and D. M. Fleming. 2008. Auditor industry specialization, auditor changes, and accounting restatements. Accounting Horizons 22 (4): 389–413. Roychowdhury, S. 2006. Earnings management through real activities manipulation. Journal of Accounting and Economics 42 (3): 335–370. Schwartz, K., and B. Soo. 1996. The association between auditor changes and reporting lags. Contemporary Accounting Research 13 (Spring): 353–370. Securities and Exchange Commission (SEC). 2003. Final rule: Management’s reports on internal control over financial reporting and certification disclosure in Exchange Act periodic reports. Release Nos. 33-8238; 34-47986. June 5. Washington, D.C.: Government Printing Office. Shields, M., I. Solomon, and O. Whittington. 1996. An experimental investigation of industry specialization and auditors` knowledge structures. Working paper, Michigan State University. Smith, D. 1988. An investigation of Securities and Exchange Commission regulation of auditor change disclosures: The case of Accounting Series Release No. 165. Journal of Accounting Research 26 (Spring): 134–145. Solomon, I., M. Shields, and O. Whittington. 1999. What do industry-specialist auditors know? Journal of Accounting Research 37: 191–208. Taso, Shou-Min, Wei-Hao Lien, and Yi-Tzu Liu. 2010. Accrual Anomaly over the Firm Life Cycle. The International Journal of Accounting Studies 51 (July): 107–142. Taylor, M. H. 2000. The effects of industry specialization on auditors’ inherent risk assessments and confidence judgments. Contemporary Accounting Research 17: 693–712. Teoh, S., and T. Wong. 1993. Perceived auditor quality and the earnings response coefficient. The Accounting Review 68 (April): 346–366. Thibodeau, J. C. 2003. The development and transferability of task knowledge. Auditing: A Journal of Practice & Theory 22: 47–68. Wells, D., and M. Loudder. 1997. The market effects of auditor resignations. Auditing: A Journal of Practice & Theory 16 (Spring): 138–144. White, H. 1980. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica 48 (4): 817-838. Wright, S., and A. Wright. 1997. The effect of industry experience on hypothesis generation and audit planning decisions. Behavioral Research in Accounting 9: 273–294. Yardley, J., N. Kauffman, T. Cairney, and D. Albrecht. 1992. Supplier behavior in the U.S. audit market. Journal of Accounting Literature 11: 151–184. Yermack, D. 1996. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40: 185–212. Zhang, F. 2006. Information uncertainty and stock returns. The Journal of Finance 61: 105–137. Hackenbrack, K. E., and C. E. Hogan. 2002. Market response to earnings surprises conditional on reasons for an auditor change. Contemporary Accounting Research 19 (Summer): 195-223.
描述	博士國立政治大學會計研究所 94353501 99
資料來源	http://thesis.lib.nccu.edu.tw/record/#G0094353501
資料類型	thesis

dc.contributor.advisor	周玲臺	zh_TW
dc.contributor.advisor	Chou, Ling Tai	en_US
dc.contributor.author (Authors)	張謙恆	zh_TW
dc.contributor.author (Authors)	Chang, Chien Heng	en_US
dc.creator (作者)	張謙恆	zh_TW
dc.creator (作者)	Chang, Chien Heng	en_US
dc.date (日期)	2010	en_US
dc.date.accessioned	29-Sep-2011 16:38:48 (UTC+8)	-
dc.date.available	29-Sep-2011 16:38:48 (UTC+8)	-
dc.date.issued (上傳時間)	29-Sep-2011 16:38:48 (UTC+8)	-
dc.identifier (Other Identifiers)	G0094353501	en_US
dc.identifier.uri (URI)	http://nccur.lib.nccu.edu.tw/handle/140.119/50765	-
dc.description (描述)	博士	zh_TW
dc.description (描述)	國立政治大學	zh_TW
dc.description (描述)	會計研究所	zh_TW
dc.description (描述)	94353501	zh_TW
dc.description (描述)	99	zh_TW
dc.description.abstract (摘要)	過去研究說明具產業專長之會計師仍能在客戶財務資訊不完整情況下，利用其行業特定知識與較高技術能力執行完善的審計工作(Thibodeau 2003; Moroney 2007; Hammersley 2006)。本論文定義資訊不確定性為客戶之財務資訊無法幫助預測公司的價值(Zhang 2006; Autore et al. 2009)。本論文推論若公司的財務報表具有不確定性會需要聘請產業專長會計師以減緩資訊不確定性的程度，並進一步研究具資訊不確定性公司若由非產業專長更換為產業專長會計師是否能提升其審計品質。由於審計工作目的在於提供資訊品質的確認(Dye 1993; Knechel et al. 2008)，審計人員會依據審計客戶的環境，設計和執行適當的審計計劃以減輕資訊不確定性情況。本論文以會計師角度建立一資訊不確定性架構，進一步將資訊不確定性分為基本價值波動不確定性與資訊品質不確定性，並推論產業專長會計師比較能在資訊品質不確定性中發揮其價值。本論文分為兩部分：第一部分檢驗資訊不確定性是否會影響產業專長會計師之選任，第二部分則檢測具資訊不確定性之審計客戶若選擇產業專長會計師之後，其審計品質是否會提升。	zh_TW
dc.description.abstract (摘要)	Previous studies establish that a specialist auditor has more industry-specific knowledge and higher technological capability that can pertinently benefit situations in which client financial information is incomplete (Thibodeau 2003; Moroney 2007; Hammersley 2006). In this paper, we define information uncertainty as the ambiguity with respect to the implications of new information concerning a firm’s value (Zhang 2006; Autore et al. 2009). Because some financial statements present information in uncertain terms, we infer that companies whose financial statements provide uncertain information demand specialist auditors to alleviate the extent of information uncertainty. We further examine the improvements on audit quality made by those companies under information uncertainty which chose to switch from non-specialist auditors to specialist ones. As an assurance of information quality (Dye 1993; Knechel et al. 2008), an auditor, based on his knowledge of the auditee and its environment, will alleviate the uncertainty level of the auditee’s financial information through designing and executing an appropriate audit plan. We build a framework of information uncertainty and develop comprehensive measurements of information uncertainty from the auditor’s point of view. Moreover, this study disentangles the information uncertainty effects into fundamental volatility uncertainty and information quality uncertainty, and proposes that specialist auditors manifest their merits more under information quality uncertainty than under fundamental volatility uncertainty. In the first part of this study, we examine the auditors chosen by companies whose financial statements are characterized by information uncertainty. Previous studies on auditor choice address many reasons why companies switch their auditors (Lennox 2000; Carcello and Neal 2003; Blouin et al. 2007). Information uncertainty makes stakeholders lower their reliance upon company financials and even downgrade the filers, triggering negative stock price reactions (Merton 1987; Beneish et al. 2005; Beneish et al. 2008; Hammersley et al. 2008). Based on prior research, we can infer that a company under information uncertainty chooses to hire a specialist auditor to signal the credibility of the financial statements and improve market perception. We hypothesize that companies suffering uncertainty demand specialist auditors to alleviate their information uncertainty. The auditor’s information role is to ensure the reliability of financial information, and a specialist auditor is equipped with superior audit knowledge and technology. Therefore, we further infer that a company whose specific information uncertainty is attributable to information quality issues (rather than fundamental volatility issues) is more inclined to choose a specialist auditor. This is because a specialist auditor improves the credibility of financial information instead of being involved with the client’s business decisions. We use an auditor switching sample of U.S. companies from 2001-2009 to examine whether the information uncertainty is an issue of auditor choice or not. Consistent with our conjecture, companies under information uncertainty prefer to hire specialist auditors. Evidence partially supports that relative to companies under fundamental volatility uncertainty, companies suffering information quality uncertainty are more inclined to choose specialist auditors. In the second part of this study, we find evidence for the economic consequences of upgrading switches to a specialist auditor when the company is experiencing information uncertainty. After the Sarbanes-Oxley Act (hereafter, SOX), many companies began to take the cost-effect issue into consideration; they ultimately decided to go private (Zhang 2006; Engel et al. 2007) in order to avoid the high-cost of Section 404 or switch to a non-Big N audit firm (Calderon et al. 2007). There`s no such thing as free lunch; the specialist auditor usually has greater ability and concomitant higher charges (Craswell et al. 1995; DeFond et al. 2000; Francis et al. 2005; Cahan et al. 2008). It is natural to question whether every company needs to engage specialist auditors if it has to pay high audit fees. In this paper, we attempt to determine in which circumstances specialist auditors can make a significant difference in improving audit quality. We investigate the relationship between auditor specialization and audit quality in an information uncertainty setting using an auditor switching sample taken from 2001 to 2009 in the United States. We examine ex post facto whether (1) specialist auditors improve audit quality more than their non-specialist counterparts; and (2) specialist auditors manifest their merits more under information quality uncertainty than the fundamental volatility uncertainty. Since the value of auditor industry specialization is reflected by the perceived and actual audit quality (Balsam et al. 2003; Nagy 2005), we examine both earnings response coefficient (ERC) and accruals quality to proxy audit quality (DAC). In both models, the audit quality of companies that suffer fundamental volatility uncertainty along with comprehensive uncertainty is not enhanced substantially following upgrade switching to a specialist auditor. We find strong empirical results that demonstrate companies under information quality uncertainty show significant improvements in audit quality after switching to specialist auditors. However, specialist auditors are significantly more capable of mitigating the information quality uncertainty than the fundamental volatility uncertainty. That is, auditor specialization is a critical solution when companies encounter information quality uncertainty.	en_US
dc.description.tableofcontents	I. INTRODUCTION 1 II. AUDITOR CHOICE UNDER CLIENT INFORMATION UNCERTAINTY 8 1. INTRODUCTION 8 2. LITERATURE REVIEW AND HYPOTHESES DEVELOPMENT 16 2.1 Information Uncertainty Framework 16 2.2 The Information Uncertainty Framework 19 2.2.1 External Factor 24 2.2.2 Corporate Life Cycle 25 2.2.3 Corporate Governance 27 2.2.4 Uncertainty in Financial Reporting Numbers 28 2.2.5 Internal Control Weakness over Financial Reporting 30 2.3 Auditor Choice and Information Uncertainty 32 2.4 Auditor Specialization Choice and Information Uncertainty (H1) 33 2.5 Auditor’s Information Role and Information Quality Uncertainty (H2) 37 3. RESEARCH DESIGN 39 3.1 Information Uncertainty Proxies 39 3.1.1 External Factor 39 3.1.2 Corporate Life cycle 40 3.1.3 Corporate Governance 41 3.1.4 Uncertainty Measurement of Financial Reporting Numbers 41 3.1.5 Internal Control Weakness over Financial Reporting 43 3.1.6 Information Uncertainty Comprehensive Measurement 43 3.2 Empirical Model 45 4. EMPIRICAL RESULTS 50 4.1 Sample 50 4.2 Descriptive Statistics for Variables 51 4.3 Multivariate Result 54 4.4 Additional Tests 55 5. CONCLUSIONS 58 APPENDIX 60 REFERENCE 61 III. INCREMENTAL VALUE OF AUDITOR SPECIALIZATION UNDER INFORMATION UNCERTAINTY 82 1. INTRODUCTION 82 2. LITERATURE REVIEW AND HYPOTHESES DEVELOPMENT 89 2.1 Information Uncertainty Framework 89 2.2 Auditor Specialization and Information Uncertainty 98 2.3 The ERC of Switching to Specialist Auditor (H1) 102 2.4 The Improvement of Accruals Quality When Switching to Specialist Auditor (H2) 104 3. RESEARCH DESIGN 106 3.1 Sample Selection 106 3.2 Audit Quality 107 3.3 Operational Definitions 108 3.3.1 Auditor Industry Specialization 108 3.3.2 Information Uncertainty Proxies 111 3.4 Earnings Response Coefficient Model (Perceived Audit Quality) 115 3.4.1 Earnings Response Coefficient Model 116 3.4.2 Specification of Earnings Response Coefficient Model 116 3.5 Discretionary Accruals Model (Actual Audit Quality) 120 3.5.1 Accruals Quality 120 3.5.2 Specification of Discretionary Accruals Model 121 4. EMPIRICAL RESULTS 125 4.1 Data 126 4.2 Earnings Response Coefficient Model 126 4.2.1 Descriptive Statistics for Variables 127 4.2.2 Multivariate Result 129 4.3 Discretionary Accruals Model 131 4.3.1 Descriptive Statistics for Variables 131 4.3.2 Multivariate Result 133 4.4 Additional Tests 134 5. CONCLUSION 138 REFERENCE 142	zh_TW
dc.language.iso	en_US	-
dc.source.uri (資料來源)	http://thesis.lib.nccu.edu.tw/record/#G0094353501	en_US
dc.subject (關鍵詞)	資訊不確定	zh_TW
dc.subject (關鍵詞)	基本價值波動	zh_TW
dc.subject (關鍵詞)	資訊品質	zh_TW
dc.subject (關鍵詞)	產業專家會計師選擇	zh_TW
dc.subject (關鍵詞)	審計品質	zh_TW
dc.subject (關鍵詞)	Information Uncertainty	en_US
dc.subject (關鍵詞)	Fundamental Volatility	en_US
dc.subject (關鍵詞)	Information Quality	en_US
dc.subject (關鍵詞)	Auditor Specialization Choice	en_US
dc.subject (關鍵詞)	Audit Quality	en_US
dc.title (題名)	客戶資訊不確定性對其選擇產業專家會計師與審計品質之影響：以基本波動與資訊品質論點分析之	zh_TW
dc.title (題名)	The impact of client information uncertainty on auditor specialization choice and audit quality: an analysis based on fundamental volatility and information quality	en_US
dc.type (資料類型)	thesis	en
dc.relation.reference (參考文獻)	II. REFERENCE	zh_TW
dc.relation.reference (參考文獻)	Abbott, L., and S. Parker. 2000. Auditor selection and audit committee characteristics. Auditing: A Journal of Practice & Theory 19 (2): 47–66.	zh_TW
dc.relation.reference (參考文獻)	Ajinkya, B., S. Bhojraj, and P. Sengupta. 2005. The governance role of institutional investors and outside directors on the properties of management earnings forecasts. Journal of Accounting Research 43 (3): 343–376.	zh_TW
dc.relation.reference (參考文獻)	Almutairi A., K. Dunn, and T. Skantz. 2009. Auditor tenure, auditor specialization, and information asymmetry. Managerial Auditing Journal 24 (7): 600–623.	zh_TW
dc.relation.reference (參考文獻)	Anthony, J. H. and K. Ramesh. 1992. Association between accounting performance measures and stock prices. Journal of Accounting and Economics 15: 203–227.	zh_TW
dc.relation.reference (參考文獻)	Arbel, A., and P. Strebel. 1982. The neglected and small firm effects. Financial Review 17: 201–218.	zh_TW
dc.relation.reference (參考文獻)	Arruñada, B. 1999. The economic of audit quality: Private incentives and regulation of audit and nonaudit services. Norwell MA: Kluwer Academic Publishers.	zh_TW
dc.relation.reference (參考文獻)	Ashbaugh–Skaife, H., D. Collins, and W. Kinney. 2007. The discovery and reporting of internal control deficiencies prior to SOX–mandated audits. Journal of Accounting and Economics 44: 166–192.	zh_TW
dc.relation.reference (參考文獻)	Ashbaugh–Skaife, H., D. Collins, W. Kinney, and R. LaFond. 2008. The effect of SOX internal control deficiencies and their remediation on accrual quality. The Accounting Review 83 (1): 217–250.	zh_TW
dc.relation.reference (參考文獻)	Ashton, A. 1991. Experience and error frequency knowledge as potential determinants of expertise. The Accounting Review 66 (April): 218–239.	zh_TW
dc.relation.reference (參考文獻)	Autore, D., R. Billingsley, and M. Schneller. 2009. Information uncertainty and auditor reputation. Journal of Banking & Finance 33 (2): 183–192.	zh_TW
dc.relation.reference (參考文獻)	Baber, W., K, Kumar, and T. Verghese. 1995. Client security price reactions to the Laventhol and Horwath bankruptcy. Journal of Accounting Research 33 (2): 385–395.	zh_TW
dc.relation.reference (參考文獻)	Balsam, S., J. Krishnan, and J. S. Yang. 2003. Auditor industry specialization and earnings quality. Auditing: A Journal of Practice & Theory 22 (September): 71–97.	zh_TW
dc.relation.reference (參考文獻)	Balvers, R., B. McDonald, and R. Miller. 1988. Underpricing of new issues and the choice of auditor as a signal of investment banker reputation. The Accounting Review 63: 605-621.	zh_TW
dc.relation.reference (參考文獻)	Barry, C., and S. Brown. 1984. Differential information and the small firm effect. Journal of Financial Economics 13: 283–294.	zh_TW
dc.relation.reference (參考文獻)	Beasley, M. and K. Petroni. 2001. Board independence and audit–firm type. Auditing: A Journal of Practice & Theory 20 (1): 97–114.	zh_TW
dc.relation.reference (參考文獻)	Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. The Accounting Review 71 (4): 443–465.	zh_TW
dc.relation.reference (參考文獻)	Beatty, R. 1989. Auditor reputation and the pricing of initial public offerings. The Accounting Review 64: 693–709.	zh_TW
dc.relation.reference (參考文獻)	Bédard, J. C., and S. F. Biggs. 1991. The effect of domain-specific experience on evaluation of management representation in analytical procedures. Auditing: A Journal of Practice & Theory 10 (Supplement): 77–95.	zh_TW
dc.relation.reference (參考文獻)	Bédard, J., S. M. Chtourou, and L. Courteau. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory 23 (2): 13–35.	zh_TW
dc.relation.reference (參考文獻)	Beneish, M. D., M. B. Billings, and L. D. Hodder. 2008. Internal control weaknesses and information uncertainty. The Accounting Review 83 (3): 665–703.	zh_TW
dc.relation.reference (參考文獻)	Beneish, M., P. Hopkins, I. Jansen, and R. Martin. 2005. Do auditor resignations reduce uncertainty about the quality of firms’ financial reporting? Journal of Accounting and Public Policy 24: 357–390.	zh_TW
dc.relation.reference (參考文獻)	Black, E. L. 1998. Which is more value relevant: earnings or cash flow? A life cycle examination. Journal of Financial Statement Analysts 4: 40–56.	zh_TW
dc.relation.reference (參考文獻)	Blouin, J., B. M. Grein, and B. R. Rountree. 2007. An analysis of forced auditor change: The case of former Arthur Andersen clients. The Accounting Review 82 (3): 621-650.	zh_TW
dc.relation.reference (參考文獻)	Bonner, S., and B. Lewis. 1990. Determinants of auditor expertise. Journal of Accounting Research 28 (Supplement): 1–20.	zh_TW
dc.relation.reference (參考文獻)	Bronson, S. N., J. V. Carcello, and K. Raghunandan. 2006. Firm characteristics and voluntary management reports on internal control. Auditing: A Journal of Practice & Theory 25 (2): 25–39.	zh_TW
dc.relation.reference (參考文獻)	Bushman, R., Q. Chen, E. Engel, and A. Smith. 2004. Financial accounting information, organizational complexity and corporate governance systems. Journal of Accounting and Economics 37: 167–201.	zh_TW
dc.relation.reference (參考文獻)	Cahan, S., J. Godfrey, J. Hamilton, and D. C. Jeter. 2008. Auditor specialization, auditor dominance, and audit fees: The role of investment opportunities. The Accounting Review 83 (6): 1393–1423.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., D. R. Hermanson, A. Klein, and T. L. Neal. 2008. Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Working paper, The University of Tennessee.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., and T. L. Neal. 2003. Audit committee characteristics and auditor dismissals following “new” going-concern reports. The Accounting Review 78 (1): 93-117.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., D. R. Hermanson, T. L. Neal, and R. A. Riley. 2002. Board characteristics and audit fees. Contemporary Accounting Research 19 (3): 365–384.	zh_TW
dc.relation.reference (參考文獻)	Caves, R. E. 1992. American industry: Structure, conduct, performance. Englewood Cliffs, NJ: Prentice Hall.	zh_TW
dc.relation.reference (參考文獻)	Chandler, A. 1962. Strategy and structure: chapters in the history of American industrial enterprise. Cambridge, MA: MIT.	zh_TW
dc.relation.reference (參考文獻)	Chaney, P., D. Jeter, and L. Shivakumar. 2004. Self-selection of auditors and audit pricing in private firms. The Accounting Review 79: 51-72.	zh_TW
dc.relation.reference (參考文獻)	Chen, C., C. Lin, and Y. Lin. 2008. Audit partner tenure, audit firm tenure, and discretionary accruals: Does long auditor tenure impair earnings quality? Contemporary Accounting Research 25 (2): 415-445.	zh_TW
dc.relation.reference (參考文獻)	Chin, C., S. Tsao and H. Chi. 2005. Trademark value and accounting performance: Analysis from corporate life cycle. The Journal of American Academy of Business, Cambridge 7 (1): 106–112.	zh_TW
dc.relation.reference (參考文獻)	Chung, H., and S. Kallapur. 2003. Client importance, nonaudit services, and abnormal accruals. The Accounting Review 78 (4): 931–955.	zh_TW
dc.relation.reference (參考文獻)	Copley, P., and E. Douthett. 2002. The association between auditor choice, ownership retained, and earnings disclosure by firms making initial public offerings. Contemporary Accounting Research 19 (1): 49–75.	zh_TW
dc.relation.reference (參考文獻)	Core, J., R. Holthausen, and D. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51: 371–406.	zh_TW
dc.relation.reference (參考文獻)	Daniel, K., D. Hirshleifer, and A. Subrahmanyam. 1998. Investor psychology and security market over- and under-reactions. Journal of Finance 53: 1839–1886.	zh_TW
dc.relation.reference (參考文獻)	Daniel, K., D. Hirshleifer, and A. Subrahmanyam. 2001. Overconfidence, arbitrage, and equilibrium asset pricing. Journal of Finance 56: 921–965.	zh_TW
dc.relation.reference (參考文獻)	Datar, S., G. Feltham, and J. Hughes. 1991. The role of audits and audit quality in valuing new issues. Journal of Accounting and Economics 14 (1): 3-49.	zh_TW
dc.relation.reference (參考文獻)	DeAngelo, L. E. 1981. Auditor size and audit quality. Journal of Accounting and Economics 3 (December): 183–199.	zh_TW
dc.relation.reference (參考文獻)	Dechow, P., and D. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons 14 (2): 235–250.	zh_TW
dc.relation.reference (參考文獻)	Dechow, P. M., and W. Ge. 2006. The persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly. Review of Accounting Studies 11 (September): 253-296	zh_TW
dc.relation.reference (參考文獻)	Dechow, P., and I. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77 (Supplement): 35–59.	zh_TW
dc.relation.reference (參考文獻)	DeFond, M. L. 1992. The association between changes in client firm agency costs and auditor switching. Auditing: A Journal of Practice & Theory 11 (Spring): 16-31.	zh_TW
dc.relation.reference (參考文獻)	DeFond, M., R. Hann, and X. Hu. 2005. Does the market value financial expertise on audit committees of boards of directors? Journal of Accounting Research 43 (2): 153–193.	zh_TW
dc.relation.reference (參考文獻)	Dess, G., and D.Beard. 1984. Dimensions of organizational environments. Administrative Science Quarterly 29: 313–327.	zh_TW
dc.relation.reference (參考文獻)	Dhaliwal, D. S., V. Naiker, and F. Navissi. 2007. Audit committee financial expertise, corporate governance, and accruals quality: An empirical analysis. Working paper, The University of Arizona.	zh_TW
dc.relation.reference (參考文獻)	Dopuch, N., and D. Simunic. 1980. The nature of competition in the auditing profession: A descriptive and normative view. Regulation and the Accounting Profession. J. Buckley and F. Weston. Belmont, CA: Lifetime Learning Publications.	zh_TW
dc.relation.reference (參考文獻)	Doyle, J., W. Ge, and S. McVay. 2007. Determinants of weaknesses in internal control over financial reporting. Journal of Accounting and Economics 44: 193–223.	zh_TW
dc.relation.reference (參考文獻)	Drago, W. A. 1998. Predicting organizational objectives: role of stakeholder influence and uncertainty of environmental sectors. Management Research News 21 (9): 16–28.	zh_TW
dc.relation.reference (參考文獻)	Dunn, K. A. and B. W. Mayhew. 2004. Audit Firm industry specialization and client disclosure quality. Review of Accounting Studies 9: 35–58.	zh_TW
dc.relation.reference (參考文獻)	Dye, R. A. 1993. Auditing standards, legal liability, and auditor wealth. The Journal of Political Economy 101: 887–904.	zh_TW
dc.relation.reference (參考文獻)	Elder, R., M. Beasley and A. Arens. 2001. Auditing and assurance services: An intergrated approach. Thirteen Edition. New Jersey: Pearson Prentice Hall.	zh_TW
dc.relation.reference (參考文獻)	Elliott, R. K., and P. D. Jacobson. 1998, In search of solutions: SEC independence concepts. The CPA Journal 68 (4): 14–20.	zh_TW
dc.relation.reference (參考文獻)	Epstein, L., and M. Schneider. 2008. Ambiguity, information quality, and asset pricing. Journal of Finance 63 (1): 197–228.	zh_TW
dc.relation.reference (參考文獻)	Ettredge, M., S. Kwon, and C. Lim. 2009. Client, industry, and country factors affecting choice of Big N industry expert auditors. Journal of Accounting, Auditing & Finance 24 (3): 433–467.	zh_TW
dc.relation.reference (參考文獻)	Ettredge, M.; C.Li, and L.Sun. 2006. The impact of SOX section 404 internal control quality assessment on audit delay in the SOX era. Auditing: a Journal of Practice & Theory 25 (2): 1–23.	zh_TW
dc.relation.reference (參考文獻)	Fairfield, P. M. 2006. Discussion of the persistence of earnings and cash flows and the role of special items: Implications for the accrual anomaly. Review of Accounting Studies 11 (September): 297-203.	zh_TW
dc.relation.reference (參考文獻)	Fama, E. 1980. Agency problems and the theory of the firm. The Journal of Political Economy 88: 288–307.	zh_TW
dc.relation.reference (參考文獻)	Fama, E., and M. G. Jensen. 1983. The separation of ownership and control. The Journal of Law & Economics 26: 301–325.	zh_TW
dc.relation.reference (參考文獻)	Fan, J. and T. Wong. 2005. Do external auditors perform a corporate governance role in emerging markets? Evidence from East Asia. Journal of Accounting Research 43 (March): 35–72.	zh_TW
dc.relation.reference (參考文獻)	Fortin, S. and J. Pittman. 2007. The role of auditor choice in debt pricing in private firms. Contemporary Accounting Research 24(3): 859–896.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., E. Maydew, and H. C. Sparks. 1999. The role of big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory: 18: 17-34.	zh_TW
dc.relation.reference (參考文獻)	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): 663–82.	zh_TW
dc.relation.reference (參考文獻)	Francis, J. R., K. Reichelt, and D. Wang. 2005. The pricing of national and city-specific reputations for industry expertise in the U.S. audit market. The Accounting Review 80 (January): 113–36.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2005. The market pricing of accruals quality. Journal of Accounting and Economics 39: 295–327.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., R. Lafond, P. Olsson, and K. Schipper. 2007. Information uncertainty and post-earnings-announcement-drift. Journal of Business Finance & Accounting 34(3-4): 403–433.	zh_TW
dc.relation.reference (參考文獻)	Frankel, R., M. Johnson, and K. Nelson. 2002. The relation between auditors` fees for non-audit services and earnings quality. The Accounting Review 77 (Supplement): 71-105.	zh_TW
dc.relation.reference (參考文獻)	Ge, W., and S. McVay. 2005. The disclosure of material weaknesses in internal control after the Sarbanes–Oxley Act. Accounting Horizons 19 (3): 137–158.	zh_TW
dc.relation.reference (參考文獻)	General Accounting Office (GAO). 2003. Public accounting firms: Mandated study on consolidation and competition. GAO Report 03-864. Washington, D.C.: Government Printing Office.	zh_TW
dc.relation.reference (參考文獻)	Ghosh, D., and L. Olsen. 2009. Environmental uncertainty and managers’ use of discretionary accruals. Accounting, Organizations and Society 34: 188–205.	zh_TW
dc.relation.reference (參考文獻)	Godfrey, J., and J. Hamilton. 2005. The impact of R&D intensity on demand for specialist auditor services. Contemporary Accounting Research 22 (1): 55–93.	zh_TW
dc.relation.reference (參考文獻)	Gomez–Mejia, L. R. 1992. Structure and process of diversification, compensation strategy, and firm performance. Strategic Management Journal 13: 381–397.	zh_TW
dc.relation.reference (參考文獻)	Gramling, A. A., and D. N. Stone. 1998. A review and evaluation of industry concentration, specialization, experience and knowledge research in auditing. Working paper, University of Illinois.	zh_TW
dc.relation.reference (參考文獻)	Griffin, D. and A. Tversky. 1992. The weighing of evidence and the determinants of confidence. Cognitive Psychology 24: 411–435.	zh_TW
dc.relation.reference (參考文獻)	Guedhami O., and J. Pittman. 2006. Ownership concentration in privatized firms: The role of disclosure standards, auditor choice, and auditing infrastructure. Journal of Accounting Research 44: 889–929.	zh_TW
dc.relation.reference (參考文獻)	Hammersley, J. S. 2006. Pattern identification and industry–specialist auditors. The Accounting Review 81: 309–336.	zh_TW
dc.relation.reference (參考文獻)	Hirshleifer, D. 2001. Investor psychology and asset pricing. Journal of Finance 56: 1533–1596.	zh_TW
dc.relation.reference (參考文獻)	Hogan, C. 1997. Costs and benefits of audit quality in the IPO market: A self-selection analysis. The Accounting Review 72 (1): 67–86.	zh_TW
dc.relation.reference (參考文獻)	Hogan, C. E. and M. S. Wilkins. 2008. Evidence on the audit risk model: Do auditors increase audit fees in the presence of internal control deficiencies? Contemporary Accounting Research 25 (1): 219–242.	zh_TW
dc.relation.reference (參考文獻)	Hoitash, R., U. Hoitash, and J. Bédard. 2008. Internal control quality and pricing under the Sarbanes–Oxley Act. Auditing: A Journal of Practice & Theory 28 (1): 105–126.	zh_TW
dc.relation.reference (參考文獻)	Hoitash, R., U. Hoitash, and J. Bédard. 2009. Corporate governance and internal control over financial reporting: A comparison of regulatory regimes. The Accounting Review 84 (3): 839–867.	zh_TW
dc.relation.reference (參考文獻)	Holthausen, R., and R. Verrecchia. 1990. The effect of informedness and consensus on price and volume behavior. The Accounting Review 65 (1): 191–208.	zh_TW
dc.relation.reference (參考文獻)	Jiang, G., C. Lee, Y. Zhang, 2005. Information uncertainty and expected returns. Review of Accounting Studies 10 (2-2): 185–221.	zh_TW
dc.relation.reference (參考文獻)	Kanagaretnam, K., G. Lobo, and D. Whalen. 2007. Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy 26: 497–522	zh_TW
dc.relation.reference (參考文獻)	Karamanou, I., and N. Vafeas. 2005. The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research 43 (2): 453–486.	zh_TW
dc.relation.reference (參考文獻)	Kim, O., and R. Verrecchia. 1991. Trading volume and price reactions to public announcements. Journal of Accounting Research 29 (2): 302-22.	zh_TW
dc.relation.reference (參考文獻)	Klein, A. 2002b. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (August): 375–400.	zh_TW
dc.relation.reference (參考文獻)	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 & Theory 26 (1): 19–45.	zh_TW
dc.relation.reference (參考文獻)	Knechel R, L Niemi and S Sundgren. 2008. Attributes affecting auditor choice. International Journal of Auditing 12: 65–88.	zh_TW
dc.relation.reference (參考文獻)	Kreutzfeldt, R., and W. Wallace. 1986. Error characteristics and audit populations: Their profile and relationship to environmental factors. Auditing: A Journal of Practice & Theory 5 (Fall): 20–43.	zh_TW
dc.relation.reference (參考文獻)	Krishnan, G. V. 2003. Does big 6 auditor industry expertise constrain earnings management. Accounting Horizons 17 (supplement): 1–16.	zh_TW
dc.relation.reference (參考文獻)	Krishnan, G. V. 2005. The association between big 6 auditor industry expertise and the asymmetric timeliness of earnings. Journal of Accounting, Auditing & Finance 20 (3): 209–228.	zh_TW
dc.relation.reference (參考文獻)	Krishnan, J., and J. Krishnan. 1997. Litigation risk and auditor resignations. The Accounting Review 72 (October): 539-560.	zh_TW
dc.relation.reference (參考文獻)	Lennox, C. 1999. Audit quality and auditor size: An evaluation of reputation and deep pockets hypotheses. Journal of Business Finance and Accounting 26(7-8): 779–805.	zh_TW
dc.relation.reference (參考文獻)	Lennox, C., 2000. Do companies successfully engage in opinion shopping: Evidence from the UK? Journal of Accounting and Economics 29: 321-37.	zh_TW
dc.relation.reference (參考文獻)	Lev, B. 1989. On the usefulness of earnings: lessons and directions from two decades of empirical research. Journal of Accounting Research 27 (Supplement): 153–192.	zh_TW
dc.relation.reference (參考文獻)	Libby, R. 1985. Availability and the generation of hypotheses in analytical review. Journal of Accounting Research 23 (Autumn): 648–667.	zh_TW
dc.relation.reference (參考文獻)	Libby, R., and D. Frederick. 1990. Experience and the ability to explain audit findings. Journal of Accounting Research 28 (Autumn): 348–367.	zh_TW
dc.relation.reference (參考文獻)	Lim, C. and H. Tan. 2008. Non-audit service fees and audit quality: The impact of auditor specialization. Journal of Accounting Research 46 (1): 199–246.	zh_TW
dc.relation.reference (參考文獻)	Lobo, G., and J.Zhou. 2001. Disclosure quality and earnings management. Asia–Pacific Journal of Accounting and Economics 8 (1): 1–20.	zh_TW
dc.relation.reference (參考文獻)	Low, K. Y. 2004. The effects of industry specialization on audit risk assessments and audit–planning decisions. The Accounting Review 79: 201–219.	zh_TW
dc.relation.reference (參考文獻)	Lys, T., and R. Watts. 1994. Lawsuits against auditors. Journal of Accounting Research 32 (3): 65–102.	zh_TW
dc.relation.reference (參考文獻)	Mansi, S., W. Maxwell, and M. Darius. 2004. Does auditor quality and tenure matter to investors? Evidence from the bond market. Journal of Accounting Research 42 (September): 755–793.	zh_TW
dc.relation.reference (參考文獻)	Mayhew, B., and M. Wilkins. 2003. Audit firm industry specialization as a differentiation strategy: Evidence from fees charged to firms going public. Auditing: A Journal of Practice & Theory 22 (2): 33–52.	zh_TW
dc.relation.reference (參考文獻)	Menon, K., and D. D. Williams. 1994. The insurance hypothesis and market prices. The Accounting Review 69 (2): 327–342.	zh_TW
dc.relation.reference (參考文獻)	Menon, K. and D. Williams. 2008. Management turnover following auditor resignations. Contemporary Accounting Research 25 (Summer): 567-604.	zh_TW
dc.relation.reference (參考文獻)	Merton, R. C. 1987. A simple model of capital market equilibrium with incomplete information. Journal of Finance 42: 483–510.	zh_TW
dc.relation.reference (參考文獻)	Moroney, R. 2007. Does industry expertise improve the efficiency of audit judgment? Auditing: A Journal of Practice & Theory 26 (2): 69–94.	zh_TW
dc.relation.reference (參考文獻)	Neal, T. L., and R. R. Riley, Jr. 2004. Auditor industry specialist research design. Auditing: A Journal of Practice & Theory 23 (2): 169–177.	zh_TW
dc.relation.reference (參考文獻)	Owhoso, V. E., W. F. Messier, Jr., and J. G. Lynch, Jr. 2002. Error detection by industry–specialized teams during sequential audit review. Journal of Accounting Research 40: 883–900.	zh_TW
dc.relation.reference (參考文獻)	Pittman, J. A., and S. Fortin. 2004. Auditor choice and the cost of debt capital for newly public firms. Journal of Accounting and Economics 37: 113–136.	zh_TW
dc.relation.reference (參考文獻)	Richardson, V. 2000. Information asymmetry and earnings management: Some evidence. Review of Quantitative Finance and Accounting 15 (4): 325–347.	zh_TW
dc.relation.reference (參考文獻)	Rink, D., and J. Swan. 1979. Product life cycle research: A literature review. Journal of Business Research 78 (September): 219–242.	zh_TW
dc.relation.reference (參考文獻)	Romanus, R., J. Maher, and D. Fleming. 2008. Auditor industry specialization, auditor changes, and accounting restatements. Accounting Horizons 22 (4): 389–413.	zh_TW
dc.relation.reference (參考文獻)	Schwartz, K. B., and K. Menon. 1985. Auditor switches by failing firms. The Accounting Review 60 (April): 248-261.	zh_TW
dc.relation.reference (參考文獻)	Securities and Exchange Commission (SEC). 2003. Final rule: Management’s reports on internal control over financial reporting and certification disclosure in Exchange Act periodic reports. Release Nos. 33-8238; 34-47986. June 5. Washington, D.C.: Government Printing Office.	zh_TW
dc.relation.reference (參考文獻)	Shields, M., I. Solomon, and O. Whittington. 1996. An experimental investigation of industry specialization and auditors` knowledge structures. Working paper, Michigan State University.	zh_TW
dc.relation.reference (參考文獻)	Simunic, D. 1980. The pricing of audit services: theory and evidence. Journal of Accounting Research 18 (1): 161–190.	zh_TW
dc.relation.reference (參考文獻)	Solomon, I., M. D. Shields, and O. R. Whittington. 1999. What do industry–specialist auditors know? Journal of Accounting Research 37: 191–208.	zh_TW
dc.relation.reference (參考文獻)	Taso, Shou-Min, Wei-Hao Lien, and Yi-Tzu Liu. 2010. Accrual Anomaly over the Firm Life Cycle. The International Journal of Accounting Studies 51 (July): 107–142.	zh_TW
dc.relation.reference (參考文獻)	Taylor, M. 2000. The effects of industry specialization on auditors’ inherent risk assessments and confidence judgments. Contemporary Accounting Research 17: 693–712.	zh_TW
dc.relation.reference (參考文獻)	Thibodeau, J. C. 2003. The development and transferability of task knowledge. Auditing: A Journal of Practice & Theory 22: 47–68.	zh_TW
dc.relation.reference (參考文獻)	Titman, S., and B. Trueman. 1986. Information quality and the valuation of new issues. Journal of Accounting and Economics 8 (2): 159-172.	zh_TW
dc.relation.reference (參考文獻)	Wallace, W. 1980. The economic role of the audit in free and regulated markets. The Touche Ross and Co. Aid to Education Program. Reprinted in Auditing Monographs New York Macmillan Publishing Co., 1985. Available on the internet at: <http://raw.rutgers.edu/raw/wallace/homepage.html>.	zh_TW
dc.relation.reference (參考文獻)	Watson, J. 2002. Strategy: An Introduction to Game Theory. New York: W.W. Norton & Company.	zh_TW
dc.relation.reference (參考文獻)	Weber, J., and M. Willenborg. 2003. Do expert informational intermediaries add value? Evidence from auditors in microcap initial public offerings. Journal of Accounting Research 41: 681–720.	zh_TW
dc.relation.reference (參考文獻)	Willenborg, M. 1999. Empirical analysis of the economic demand for auditing in the initial public offerings market. Journal of Accounting Research 37 (Spring): 225–268.	zh_TW
dc.relation.reference (參考文獻)	Wright, S., and A. Wright. 1997. The effect of industry experience on hypothesis generation and audit planning decisions. Behavioral Research in Accounting 9: 273–294.	zh_TW
dc.relation.reference (參考文獻)	Voicu, Mălina. 2011. Effect of nationalism on religiosity in 30 European countries. European Sociological Review first published online January 2, 2011. doi:10.1093/esr/jcq067.	zh_TW
dc.relation.reference (參考文獻)	Yermack, D. 1996. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40: 185–212.	zh_TW
dc.relation.reference (參考文獻)	Zhang, F. 2006. Information uncertainty and stock returns. The Journal of Finance 61: 105–137.	zh_TW
dc.relation.reference (參考文獻)	III.REFERENCE	zh_TW
dc.relation.reference (參考文獻)	Abbott, L., and S. Parker. 2000. Auditor selection and audit committee characteristics. Auditing: A Journal of Practice & Theory 19 (2): 47–66.	zh_TW
dc.relation.reference (參考文獻)	Ajinkya, B., S. Bhojraj, and P. Sengupta. 2005. The governance role of institutional investors and outside directors on the properties of management earnings forecasts. Journal of Accounting Research 43 (3): 343–376.	zh_TW
dc.relation.reference (參考文獻)	Anthony, J. and K. Ramesh. 1992. Association between accounting performance measures and stock prices. Journal of Accounting and Economics 15: 203–227.	zh_TW
dc.relation.reference (參考文獻)	Ashbaugh, H., R. LaFond, and B. Mayhew. 2003. Do nonaudit services compromise auditor independence? Further evidence. The Accounting Review 78 (3): 611–640.	zh_TW
dc.relation.reference (參考文獻)	Ashton, A. H. 1991. Experience and error frequency knowledge as potential determinants of expertise. The Accounting Review 66 (April): 218–239.	zh_TW
dc.relation.reference (參考文獻)	Autore, D., R. Billingsley, and M. Schneller. 2009. Information uncertainty and auditor reputation. Journal of Banking & Finance 33 (2): 183–192.	zh_TW
dc.relation.reference (參考文獻)	Balsam, S., J. Krishnan, and J. S. Yang. 2003. Auditor industry specialization and earnings quality. Auditing: A Journal of Practice & Theory 22 (September): 71–97.	zh_TW
dc.relation.reference (參考文獻)	Bartov, E., F. Gul, and J. Tsui. 2000. Discretionary-accruals models and audit qualifications. Journal of Accounting and Economics 30 (3): 421-452.	zh_TW
dc.relation.reference (參考文獻)	Beasley, M. S. 1996. An empirical analysis of the relation between the board of director composition and financial statement fraud. The Accounting Review 71 (4): 443–465.	zh_TW
dc.relation.reference (參考文獻)	Beattie, V., and S. Fearnley. 1995. The importance of audit firm characteristics and the drivers of auditor change in UK listed companies. Accounting and Business Research 26 (100): 227–239.	zh_TW
dc.relation.reference (參考文獻)	Becker, C., M. DeFond, J. Jiambalvo, and K. Subramanyam. 1998. The effect of audit quality on earnings management. Contemporary Accounting Research 15 (1): 4–24.	zh_TW
dc.relation.reference (參考文獻)	Bédard, J. and S. Biggs. 1991. The effect of domain-specific experience on evaluation of management representation in analytical procedures. Auditing: A Journal of Practice & Theory 10 (Supplement): 77–95.	zh_TW
dc.relation.reference (參考文獻)	Bédard, J., S. M. Chtourou, and L. Courteau. 2004. The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory 23 (2): 13–35.	zh_TW
dc.relation.reference (參考文獻)	Beneish, M. D., M. B. Billings, and L. D. Hodder. 2008. Internal control weaknesses and information uncertainty. The Accounting Review 83 (3): 665–703.	zh_TW
dc.relation.reference (參考文獻)	Black, E. L. 1998. Which is more value relevant: earnings or cash flow? A life cycle examination. Journal of Financial Statement Analysts 4: 40–56.	zh_TW
dc.relation.reference (參考文獻)	Bonner, S., and B. Lewis. 1990. Determinants of auditor expertise. Journal of Accounting Research 28 (Supplement): 1–20.	zh_TW
dc.relation.reference (參考文獻)	Bushman, R., Q. Chen, E. Engel, and A. Smith. 2004. Financial accounting information, organizational complexity and corporate governance systems. Journal of Accounting and Economics 37: 167–201.	zh_TW
dc.relation.reference (參考文獻)	Butler, M., A. Leone, and M. Willenborg. 2004. An empirical analysis of auditor reporting and its association with abnormal accruals. Journal of Accounting and Economics 37 (2): 139-165.	zh_TW
dc.relation.reference (參考文獻)	Cahan, S., J. Godfrey, J. Hamilton, and D. C. Jeter. 2008. Auditor specialization, auditor dominance, and audit fees: The role of investment opportunities. The Accounting Review 83 (6): 1393–1423.	zh_TW
dc.relation.reference (參考文獻)	Cairney, T. D., and G. R. Young. 2006. Homogeneous industries and auditor specialization: An indication of production economies. Auditing: A Journal of Practice & Theory 25 (1): 49–67.	zh_TW
dc.relation.reference (參考文獻)	Calderon, T., E. Ofobike, and J. Cheh. 2007. Is there transparency in auditor change disclosures? The Journal of Applied Business Research 23 (3): 61–74.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., and A. L. Nagy. 2004. Audit firm tenure and fraudulent financial reporting. Auditing: A Journal of Practice & Theory 23 (September): 55–69.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., D. R. Hermanson, A. Klein, and T. L. Neal. 2008. Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Working paper, The University of Tennessee.	zh_TW
dc.relation.reference (參考文獻)	Carcello, J. V., D. R. Hermanson, T. L. Neal, and R. A. Riley. 2002. Board characteristics and audit fees. Contemporary Accounting Research 19 (3): 365–384.	zh_TW
dc.relation.reference (參考文獻)	Carey, P., and R. Simnett. 2006. Audit partner tenure and audit quality. The Accounting Review 81 (3): 563-676.	zh_TW
dc.relation.reference (參考文獻)	Carhart, M. 1997. `On persistence in mutual fund performance. Journal of Finance 52 (1): 57-82.	zh_TW
dc.relation.reference (參考文獻)	Carter, M. E., and B. S. Soo. 1999. The relevance of Form 8-K reports. Journal of Accounting Research 37 (Spring): 119–132.	zh_TW
dc.relation.reference (參考文獻)	Chin, C. L., S. M. Tsao and H. Y. Chi. 2005. Trademark value and accounting performance: Analysis from corporate life cycle. The Journal of American Academy of Business, Cambridge 7 (1): 106–112.	zh_TW
dc.relation.reference (參考文獻)	Choi, J-H., and R. Doogar. 2005. Auditor tenure and audit quality: Evidence from going-concern qualifications issued during 1996–2001. Working paper, Hong Kong University of Science and Technology.	zh_TW
dc.relation.reference (參考文獻)	Chung, H., and S. Kallapur. 2003. Client importance, non-audit fees, and abnormal accruals. The Accounting Review 78 (4): 931-955.	zh_TW
dc.relation.reference (參考文獻)	Cohen, D., A. Dey, and T. Lys. 2005. Trends in earnings management in the pre- and post-Sarbanes-Oxley periods. Working paper. Northwestern University.	zh_TW
dc.relation.reference (參考文獻)	Collins, D., and S. Kothari. 1989. An analysis of inter-temporal and cross-sectional determinants of earnings response coefficients. Journal of Accounting and Economics 17 (July): 143–182.	zh_TW
dc.relation.reference (參考文獻)	Core, J. E., R. W. Holthausen, and D. F. Larcker. 1999. Corporate governance, chief executive officer compensation, and firm performance. Journal of Financial Economics 51: 371–406.	zh_TW
dc.relation.reference (參考文獻)	Craswell, J. R. Francis, and S. L. Taylor. 1995. Auditor brand name reputations and industry specializations. Journal of Accounting and Economics 20: 297–322.	zh_TW
dc.relation.reference (參考文獻)	Davidson, W., and D. Gribbin. 1995. The board of directors’ and prior audit opinions influence on the stock market reactions to announced auditor changes: An agency perspective. Working paper, Southern Illinois University.	zh_TW
dc.relation.reference (參考文獻)	Dechow, P., and D. Skinner. 2000. Earnings management: Reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons 14 (2): 235–250.	zh_TW
dc.relation.reference (參考文獻)	Dechow, P., and I. Dichev. 2002. The quality of accruals and earnings: The role of accrual estimation errors. The Accounting Review 77 (Supplement): 35–59.	zh_TW
dc.relation.reference (參考文獻)	DeFond, M., and J. Jiambalvo. 1994. Debt covenant violation and manipulation of accruals. Journal of Accounting and Economics 17 (1-2): 145–176.	zh_TW
dc.relation.reference (參考文獻)	DeFond, M., J. Francis, and T. Wong. 2000. Auditor industry specialization and market segmentation: Evidence from Hong Kong. Auditing: A Journal of Practice & Theory 19 (Spring): 49–66.	zh_TW
dc.relation.reference (參考文獻)	DeFond, M., R. Hann, and X. Hu. 2005. Does the market value financial expertise on audit committees of boards of directors? Journal of Accounting Research 43 (2): 153–193.	zh_TW
dc.relation.reference (參考文獻)	Dess, G., and Beard, D. 1984. Dimensions of organizational environments. Administrative Science Quarterly 29: 313–327.	zh_TW
dc.relation.reference (參考文獻)	Dhaliwal, D. S., V. Naiker, and F. Navissi. 2007. Audit committee financial expertise, corporate governance, and accruals quality: An empirical analysis. Working paper, The University of Arizona.	zh_TW
dc.relation.reference (參考文獻)	Dimson, E., and P. Marsh. 1986. Event study methodologies and the size effect. Journal of Financial Economics 17 (September): 113–142.	zh_TW
dc.relation.reference (參考文獻)	Drago, W. A. 1998. Predicting organizational objectives: Role of stakeholder influence and uncertainty of environmental sectors. Management Research News 21 (9): 16–28.	zh_TW
dc.relation.reference (參考文獻)	Dunn, J., D. Hillier, and A. Marshall. 1999. The market reaction to auditor resignations. Accounting and Business Research 29 (Spring): 95–108.	zh_TW
dc.relation.reference (參考文獻)	Dunn, K. A. and B. W. Mayhew. 2004. Audit Firm industry specialization and client disclosure quality. Review of Accounting Studies 9: 35–58.	zh_TW
dc.relation.reference (參考文獻)	Dye, R. A. 1993. Auditing standards, legal liability, and auditor wealth. The Journal of Political Economy 101: 887–904.	zh_TW
dc.relation.reference (參考文獻)	Easley, D. and M. O’Hara. 2004. Information and the cost of capital. Journal of Finance 59 (4): 1553-1583.	zh_TW
dc.relation.reference (參考文獻)	Ecker, F., J. Francis, I. Kim, P. Olsson, and K. Schipper. 2006. A returns-based representation of earnings quality. The Accounting Review 81: 749–780.	zh_TW
dc.relation.reference (參考文獻)	Elder, R., M. Beasley and A. Arens. 2001. Auditing and assurance services: an intergrated approach. Thirteen Edition. New Jersey: Pearson Prentice Hall.	zh_TW
dc.relation.reference (參考文獻)	Engel, E., R.M. Hayes, and X. Wang. 2007. The Sarbanes-Oxley Act and firms’ going–private decisions. Journal of Accounting & Economics 44: 116–145.	zh_TW
dc.relation.reference (參考文獻)	Epstein, L., and M. Schneider. 2008. Ambiguity, information quality, and asset pricing. Journal of Finance 63 (1): 197–228.	zh_TW
dc.relation.reference (參考文獻)	Fama, E. 1980. Agency problems and the theory of the firm. The Journal of Political Economy 88: 288–307.	zh_TW
dc.relation.reference (參考文獻)	Fama, E., and M. G. Jensen. 1983. The separation of ownership and control. The Journal of Law & Economics 26: 301–325.	zh_TW
dc.relation.reference (參考文獻)	Foster, G., C. Olsen, and T. Shevlin. 1984. Earnings releases, anomalies, and the behavior of securities returns. The Accounting Review 59 (October): 574–603.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., E. Maydew, and H.Sparks. 1999. The role of Big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory 18 (2): 17-34.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., K. Reichelt, and D. Wang. 2005. The pricing of national and city-specific reputations for industry expertise in the U.S. audit market. The Accounting Review 80 (January): 113–36.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., R. LaFond, P. Olsson, and K. Schipper. 2005. The market pricing of accruals quality. Journal of Accounting and Economics 39: 295–327.	zh_TW
dc.relation.reference (參考文獻)	Francis, J., R. Lafond, P. Olsson, and K. Schipper. 2007. Information Uncertainty and Post-Earnings-Announcement-Drift. Journal of Business Finance & Accounting 34(3-4): 403–433.	zh_TW
dc.relation.reference (參考文獻)	Frankel, R., M. Johnson, and K. Nelson. 2002. The relation between auditors’ fees for nonaudit services and earnings quality. The Accounting Review 77 (Supplement): 71–105.	zh_TW
dc.relation.reference (參考文獻)	Freeman, R. 1987. The association between accounting earnings and security returns for large and small firms. Journal of Accounting and Economics 9 (July): 195–228.	zh_TW
dc.relation.reference (參考文獻)	Fried, D., and A. Schiff. 1981. CPA switches and associated market reactions. The Accounting Review 56 (April): 326–341.	zh_TW
dc.relation.reference (參考文獻)	Geiger, M., and D. North. 2006. Does hiring a new CFO change things? An investigation of changes in discretionary accruals. The Accounting Review 81 (4): 781–809.	zh_TW
dc.relation.reference (參考文獻)	General Accounting Office (GAO). 2003. Public accounting firms: Mandated study on consolidation and competition. GAO Report 03-864. Washington, D.C.: Government Printing Office.	zh_TW
dc.relation.reference (參考文獻)	Ghosh, A., and D. Moon. 2005. Auditor tenure and perceptions of audit quality. The Accounting Review 80 (2): 585–612.	zh_TW
dc.relation.reference (參考文獻)	Ghosh, D. and L. Olsen. 2009. Environmental uncertainty and managers’ use of discretionary accruals. Accounting, Organizations and Society 34: 188–205.	zh_TW
dc.relation.reference (參考文獻)	Godfrey, J., and J. Hamilton. 2005. The impact of R&D intensity on demand for specialist auditor services. Contemporary Accounting Research 22 (1): 55–93.	zh_TW
dc.relation.reference (參考文獻)	Hammersley, J. S. 2006. Pattern identification and industry-specialist auditors. The Accounting Review 81: 309–336.	zh_TW
dc.relation.reference (參考文獻)	Hoitash, R., U. Hoitash, and J.C. Bédard. 2009. Corporate governance and internal control over financial reporting: A comparison of regulatory regimes. The Accounting Review 84 (3): 839–867.	zh_TW
dc.relation.reference (參考文獻)	Holthausen, R., and R. Verrecchia. 1990. The effect of informedness and consensus on price and volume behavior. The Accounting Review 65 (1): 191–208.	zh_TW
dc.relation.reference (參考文獻)	Jensen, M. and W. Meckling. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economies 3: 305–360.	zh_TW
dc.relation.reference (參考文獻)	Johnson, V., I. Khurana, and J. Reynolds. 2002. Audit-firm tenure and the quality of financial reports. Contemporary Accounting Research 19 (4): 637–660.	zh_TW
dc.relation.reference (參考文獻)	Johnson, W. B., and T. Lys. 1990. The market for audit services. Journal of Accounting and Economics 12 (January): 281–308.	zh_TW
dc.relation.reference (參考文獻)	Jones, J. 1991. Earnings management during import relief investigations. Journal of Accounting Research 29 (2): 193–228.	zh_TW
dc.relation.reference (參考文獻)	Kanagaretnam, K., G. Lobo, and D. Whalen. 2007. Does good corporate governance reduce information asymmetry around quarterly earnings announcements? Journal of Accounting and Public Policy 26: 497–522	zh_TW
dc.relation.reference (參考文獻)	Kaplan, S. E., E. F O’Donnell, and B. M Arel. 2008. The influence of auditor experience on the persuasiveness of information provided by management. Auditing: A Journal of Practice & Theory 27 (1): 67–83.	zh_TW
dc.relation.reference (參考文獻)	Karamanou, I., and N. Vafeas. 2005. The association between corporate boards, audit committees, and management earnings forecasts: An empirical analysis. Journal of Accounting Research 43 (2): 453–486.	zh_TW
dc.relation.reference (參考文獻)	Kim, O., and R. Verrecchia. 1991. Trading volume and price reactions to public announcements. Journal of Accounting Research 29 (2): 302–322.	zh_TW
dc.relation.reference (參考文獻)	Klein, A. 2002b. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (August): 375–400.	zh_TW
dc.relation.reference (參考文獻)	Kluger, B., and D. Shields. 1989. Auditor changes, information quality and bankruptcy prediction. Managerial and Decision Economics 10 (December): 275–282.	zh_TW
dc.relation.reference (參考文獻)	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 & Theory 26 (1): 19–45.	zh_TW
dc.relation.reference (參考文獻)	Kothari, S. P., and C. Wasley. 1989. Measuring security price performance in size-clustered samples. The Accounting Review 64 (April): 228–249.	zh_TW
dc.relation.reference (參考文獻)	Kothari, S., A..Leone, and C. Wasley. 2005. Performance matched discretionary accruals. Journal of Accounting and Economics 39 (1): 163–197.	zh_TW
dc.relation.reference (參考文獻)	Kreutzfeldt, R., and W. Wallace. 1986. Error characteristics and audit populations: Their profile and relationship to environmental factors. Auditing: A Journal of Practice & Theory 5 (Fall): 20–43.	zh_TW
dc.relation.reference (參考文獻)	Krishnan, G. V. 2003. Does big 6 auditor industry expertise constrain earnings management. Accounting Horizons 17 (supplement): 1–16.	zh_TW
dc.relation.reference (參考文獻)	Krishnan, G. V. 2005. The association between big 6 auditor industry expertise and the asymmetric timeliness of earnings. Journal of Accounting, Auditing & Finance 20 (3): 209–228.	zh_TW
dc.relation.reference (參考文獻)	Kwon, S., C. Lim, and P. Tan. 2007. Legal systems and earnings quality: The role of auditor industry specialization. Auditing: A Journal of Practice & Theory 26 (2): 25–55.	zh_TW
dc.relation.reference (參考文獻)	Lambert, R., C. Leuz, and R. Verrecchia. 2007. Accounting information, disclosure, and the cost of capital. Journal of Accounting Research 45 (2): 385–420.	zh_TW
dc.relation.reference (參考文獻)	Libby, R. 1985. Availability and the generation of hypotheses in analytical review. Journal of Accounting Research 23 (Autumn): 648–667.	zh_TW
dc.relation.reference (參考文獻)	Libby, R. and J. Luft. 1993. Determinants of judgment performance in accounting settings: Ability, knowledge, motivation, and environment. Accounting, Organizations and Society 18 (5): 425–450.	zh_TW
dc.relation.reference (參考文獻)	Libby, R., and D. Frederick. 1990. Experience and the ability to explain audit findings. Journal of Accounting Research 28 (Autumn): 348–367.	zh_TW
dc.relation.reference (參考文獻)	Lobo, G., and J. Zhou. 2001. Disclosure quality and earnings management. Asia–Pacific Journal of Accounting and Economics 8 (1): 1–20.	zh_TW
dc.relation.reference (參考文獻)	Low, K. Y. 2004. The effects of industry specialization on audit risk assessments and audit-planning decisions. The Accounting Review 79: 201–219.	zh_TW
dc.relation.reference (參考文獻)	Mascarenhas, D., F. Cahan, and V. Naiker. 2010. The effect of audit specialists on the informativeness of discretionary accruals. Journal of Accounting, Auditing & Finance 25 (1): 53–84.	zh_TW
dc.relation.reference (參考文獻)	Menon, K. and D. Williams. 2008. Management turnover following auditor resignations. Contemporary Accounting Research 25 (Summer): 567-604.	zh_TW
dc.relation.reference (參考文獻)	Moroney, R. 2007. Does industry expertise improve the efficiency of audit judgment? Auditing: A Journal of Practice & Theory 26 (2): 69–94.	zh_TW
dc.relation.reference (參考文獻)	Myers, J., L. Myers, and T. Omer. 2003. Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The Accounting Review 78 (3): 779–799.	zh_TW
dc.relation.reference (參考文獻)	Nagy, A. 2005. Mandatory audit fir turnover, financial reporting quality, and client bargaining power: The case of Arthur Andersen. Accounting Horizons 19 (June): 51–68.	zh_TW
dc.relation.reference (參考文獻)	Nelson, M., J. Elliott, and R. Tarpley. 2002. Evidence from auditors about managers’ and auditors’ earnings management decisions. The Accounting Review 77 (supplement): 175-202.	zh_TW
dc.relation.reference (參考文獻)	Nichols, D., and D. Smith. 1983. Auditor credibility and auditor changes. Journal of Accounting Research 21 (Autumn): 534–544.	zh_TW
dc.relation.reference (參考文獻)	Owhoso, V. E., W. F. Messier, Jr., and J. G. Lynch, Jr. 2002. Error detection by industry-specialized teams during sequential audit review. Journal of Accounting Research 40: 883–900.	zh_TW
dc.relation.reference (參考文獻)	Reynolds, J., and J. Francis. 2000. Does size matter? The influence of large clients on office-level auditor reporting decisions. Journal of Accounting and Economics 30 (3): 375–400.	zh_TW
dc.relation.reference (參考文獻)	Richardson, V. 2000. Information asymmetry and earnings management: Some evidence. Review of Quantitative Finance and Accounting 15 (4): 325–347.	zh_TW
dc.relation.reference (參考文獻)	Romanus, R. N., J. J. Maher, and D. M. Fleming. 2008. Auditor industry specialization, auditor changes, and accounting restatements. Accounting Horizons 22 (4): 389–413.	zh_TW
dc.relation.reference (參考文獻)	Roychowdhury, S. 2006. Earnings management through real activities manipulation. Journal of Accounting and Economics 42 (3): 335–370.	zh_TW
dc.relation.reference (參考文獻)	Schwartz, K., and B. Soo. 1996. The association between auditor changes and reporting lags. Contemporary Accounting Research 13 (Spring): 353–370.	zh_TW
dc.relation.reference (參考文獻)	Securities and Exchange Commission (SEC). 2003. Final rule: Management’s reports on internal control over financial reporting and certification disclosure in Exchange Act periodic reports. Release Nos. 33-8238; 34-47986. June 5. Washington, D.C.: Government Printing Office.	zh_TW
dc.relation.reference (參考文獻)	Shields, M., I. Solomon, and O. Whittington. 1996. An experimental investigation of industry specialization and auditors` knowledge structures. Working paper, Michigan State University.	zh_TW
dc.relation.reference (參考文獻)	Smith, D. 1988. An investigation of Securities and Exchange Commission regulation of auditor change disclosures: The case of Accounting Series Release No. 165. Journal of Accounting Research 26 (Spring): 134–145.	zh_TW
dc.relation.reference (參考文獻)	Solomon, I., M. Shields, and O. Whittington. 1999. What do industry-specialist auditors know? Journal of Accounting Research 37: 191–208.	zh_TW
dc.relation.reference (參考文獻)	Taso, Shou-Min, Wei-Hao Lien, and Yi-Tzu Liu. 2010. Accrual Anomaly over the Firm Life Cycle. The International Journal of Accounting Studies 51 (July): 107–142.	zh_TW
dc.relation.reference (參考文獻)	Taylor, M. H. 2000. The effects of industry specialization on auditors’ inherent risk assessments and confidence judgments. Contemporary Accounting Research 17: 693–712.	zh_TW
dc.relation.reference (參考文獻)	Teoh, S., and T. Wong. 1993. Perceived auditor quality and the earnings response coefficient. The Accounting Review 68 (April): 346–366.	zh_TW
dc.relation.reference (參考文獻)	Thibodeau, J. C. 2003. The development and transferability of task knowledge. Auditing: A Journal of Practice & Theory 22: 47–68.	zh_TW
dc.relation.reference (參考文獻)	Wells, D., and M. Loudder. 1997. The market effects of auditor resignations. Auditing: A Journal of Practice & Theory 16 (Spring): 138–144.	zh_TW
dc.relation.reference (參考文獻)	White, H. 1980. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica 48 (4): 817-838.	zh_TW
dc.relation.reference (參考文獻)	Wright, S., and A. Wright. 1997. The effect of industry experience on hypothesis generation and audit planning decisions. Behavioral Research in Accounting 9: 273–294.	zh_TW
dc.relation.reference (參考文獻)	Yardley, J., N. Kauffman, T. Cairney, and D. Albrecht. 1992. Supplier behavior in the U.S. audit market. Journal of Accounting Literature 11: 151–184.	zh_TW
dc.relation.reference (參考文獻)	Yermack, D. 1996. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40: 185–212.	zh_TW
dc.relation.reference (參考文獻)	Zhang, F. 2006. Information uncertainty and stock returns. The Journal of Finance 61: 105–137.	zh_TW
dc.relation.reference (參考文獻)	Hackenbrack, K. E., and C. E. Hogan. 2002. Market response to earnings surprises conditional on reasons for an auditor change. Contemporary Accounting Research 19 (Summer): 195-223.	zh_TW

學術產出-Theses

Article View/Open

Publication Export

Google ScholarTM

政大圖書館

Citation Infomation

Google Scholar^TM