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https://ah.lib.nccu.edu.tw/handle/140.119/115561
題名: | Competition Conditions in Taiwan`s Public Accounting Industry | 作者: | 黃台心 Chang, Bao-Guang;Huang, Tai-Hsin;Wang, Hsiu-Mei |
貢獻者: | 金融學系 | 關鍵詞: | Accounting | 日期: | Feb-2017 | 上傳時間: | 11-Jan-2018 | 摘要: | This paper investigates the degree of market competition in the public accounting industry of Taiwan over the period 1994-2008, using the `H statistic` proposed by Panzar & Rosse (1987). Differing from previous works, this paper applies a newly developed model, i.e., the censored stochastic frontier (CSF) model, to test whether the audit market has achieved its long-run equilibrium. The model is superior to the conventional model that requires researchers adding a unity to the dependent variable of returns on assets (ROA) for all observations, forcing the transformed dependent variable to be non-negative. One can then take the natural logarithm of this dependent variable. Evidence shows that Taiwan`s accounting industry is characterized as monopolistic competition with a trend towards perfect competition. The result will help to build up the empirical model for public accounting industry. The CSF model confirms that this industry is already in a long-run equilibrium in the second half of the sample, which validates the use of the Panzar-Rosse model. Conversely, the employment of the conventional approach leads to a rejection of the long-run equilibrium over the entire sample period. | 關聯: | Accounting and Finance Research, 6(1), 43 | 資料類型: | article | DOI: | https://doi.org/10.5430/afr.v6n1p43 |
Appears in Collections: | 期刊論文 |
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