Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 周文林教授 (经济学系) |
全文
| 数位物件识别号 (DOI) ○○@http://aims.cuhk.edu.hk/converis/portal/Publication/2$@○○ |
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Scopushttp://aims.cuhk.edu.hk/converis/portal/Publication/2Scopus source URL
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摘要This paper addresses two issues that arise from testing and estimating cointegration in accounting research. The first issue is the failure to use more powerful cointegration tests by earlier researchers. This has led to the problem of low test power in the cointegration procedures employed in the earlier accounting literature. Another issue that has not received much attention in earlier studies of audit pricing is the endogeneity bias that arises from the endogenous nature of the regressors. Commonly used regressors such as auditee size and auditee complexity are endogenous and are often related to audit fees through a system of simultaneous equations. Endogeneity bias suggests that the conventional OLS estimators are biased. Using more powerful panel sample estimation procedures, we find that elasticities of total assets are in general under-estimated in the earlier studies when the conventional OLS method was used. We also find that the earlier studies tend to under-state the effects of the foreign subsidiary ratio and over-state the effect of the ratio of account receivables to total assets on audit fees. ? http://aims.cuhk.edu.hk/converis/portal/Publication/2005 Springer Science + Business Media, Inc.
着者Chou W.L., Lee D.S.-Y.
期刊名称Review of Quantitative Finance and Accounting
出版年份http://aims.cuhk.edu.hk/converis/portal/Publication/2005
月份6
日期1
卷号http://aims.cuhk.edu.hk/converis/portal/Publication/24
期次4
出版社Western Academic Publishers
出版地United States
页次4http://aims.cuhk.edu.hk/converis/portal/Publication/23 - 439
国际标準期刊号09http://aims.cuhk.edu.hk/converis/portal/Publication/24-865X
电子国际标準期刊号1573-7179
语言英式英语
关键词Audit fee model, Bias-correction estimation methods, Panel cointegration
