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CHAPTER 1 Introduction
CHAPTER 2 Economics
4 other sections not shown
agency relationship arises assessed ASSETS associated assume assumption audit fee audit service characteristics auditor choice auditor credibility auditor's brand name base level Big Eight auditor Big Eight firms capital structure cash flows Certified General Accountants ceteris paribus Chapter characteristic vectors client coefficients common shares consulting services credibility audit credibility level debt demand for audit demand for credibility dependent variable differences differentiated audit services differentiated products equilibrium example excluding outliers expected agency costs external agency cost factors FCOM financial statements firm commitment firm value firm's fixed costs function future cash flows Hence higher implies indicates statistic industry information asymmetry internal agency issue level of credibility market value material errors motivated null hypothesis offering optimum posterior probability price protection prior probability problem product differentiation product line purchase quasi-rents regression risk sample small audit firms Small firm statistic is significant suppliers top management top management's underwriter UREP users