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Tekijä:Guedhami, O.
Pittman, J.A.
Saffar, W.
Otsikko:Auditor choice in privatized firms: Empirical evidence on the role of state and foreign owners
Lehti:Journal of Accounting & Economics
2009 : DEC, VOL. 48:2-3, p. 151-171
Asiasana:auditors
privatization
disclosure
corporate governance
shareholders
Kieli:eng
Tiivistelmä:This study examines the link between the political economy and accounting transparency by investigating the importance of shareholders' proportionate holdings to auditor choice. A unique dataset of 176 privatizations from 32 countries is used. The results reveal strong, robust evidence that privatized firms worldwide become less (more) likely to appoint a Big Four auditor with the extent of state (foreign) ownership, which is consistent with the predictions on shareholders' diverging interests in high-quality financial reporting manifesting in auditor choice. Furthermore, the relations between shareholders' equity stakes and auditor choice are found to strengthen when country-level governance institutions are weaker.
SCIMA tietueen numero: 270989
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