Riding the Merger Wave : The Gatekeeping Role of Auditors
出版項
2018
說明
1 online resource (62 pages)
文字
text
無媒介
computer
成冊
online resource
附註
Source: Dissertations Abstracts International, Volume: 80-10, Section: A
Publisher info.: Dissertation/Thesis
Advisor: Muller, Karl A
Thesis (Ph.D.)--The Pennsylvania State University, 2018
Includes bibliographical references
I investigate whether auditors engage in greater monitoring of firms during industry merger waves. Merger waves are time periods of industry transformation (i.e. disruption) that are accompanied by higher uncertainty about industry prospects, limited analyst and board monitoring, and poorer deal performance. These factors threaten the quality of firm financial reports. I test whether auditors increase effort during these periods and whether auditors are effective in achieving high audit quality. I do this using a sample where all firms engaged in an acquisition, which allows for comparison of audits conducted inside versus outside merger waves, both within and across industries. For in-wave audits, I find audit fees are higher, financial statements are less likely to be restated, auditors are more likely to timely identify and report internal control deficiencies, and auditor turnover is higher. Overall, these findings are consistent with auditors adapting to merger waves and effectively navigating industry disruptions
Electronic reproduction. Ann Arbor, Mich. : ProQuest, 2019
