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| Tekijä: | Michealy, R. Shaw, W. |
| Otsikko: | Does the choice of auditor convey quality in an initial public offering? |
| Lehti: | Financial Management
1995 : WINTER, VOL. 24:4, p. 15-30 |
| Asiasana: | FINANCIAL MANAGEMENT QUALITY AUDITING |
| Kieli: | eng |
| Tiivistelmä: | To investigate the effect of reputation on auditor business decisions, the authors look at the relationship between auditor reputation and the characteristics of the IPOs that auditors take to the market. Consistent with the authors' hypothesis, they find that: 1) More prestigious auditors are associated with IPOs that seem a priori less risky; 2) the market perceives as less risky the IPOs that are associated with more prestigious auditors; and 3) IPO's long-term performance is related to the prestige of the auditor employed. |
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