haku: @author Willekens, M. / yhteensä: 6
viite: 5 / 6
| Tekijä: | Gaeremynck, A. Willekens, M. |
| Otsikko: | The Endogenous Relationship between Audit-Report Type and Business Termination: Evidence on Private Firms in a Non-Litigious Environment |
| Lehti: | Accounting and Business Research
2003 : VOL. 33:1, p. 65-80 |
| Asiasana: | COMPANIES AUDITORS AUDITING BANKRUPTCY |
| Kieli: | eng |
| Tiivistelmä: | This study provides evidence on the relationship between audit-report type and subsequent business termination for private companies in a non-litigious environment. The results show that an endogenous relationship exists between bankruptcy and audit-report type, and between voluntary liquidation and audit-report type. A non-clean opinion is typically issued when firms face financial difficulties, which in turn become more severe after the receipt of a non-clean audit opinion. The authors find evidence that, even without a litigation deterrent in Belgium, financial performance has a similar impact on audit-report type as in litigious environments. The authors find that the self-fulfilling prophecy hypothesis holds for bankruptcy but not for voluntary liquidation. |
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