臺灣博碩士論文加值系統

本研究探討當受查客戶財報重編之後，會計師事務所的聲譽是否受到波及，導致事務所產業市佔率下滑。本研究以事務所各產業客戶重編數作為污染(Contamination)的代理變數，以事務所各產業市佔率的變動來看污染效應帶來的影響。本研究並探討當客戶重編時，事務所內的傳染效應是否影響非重編客戶和原事務所終止委任。本研究以2003年至2016年台灣公開發行公司為研究對象，實證結果發現，當事務所的受查客戶發生財報重編時，往後年度的產業市佔率將會下滑；且當事務所有客戶重編時，非重編的客戶也較不願意繼續委任該事務所，將為審計失敗下的處罰。

This study investigates whether the reputation of the audit firm has been affected following restatement announcements(contamination), resulting in a decline in the industry market share of the audit firm. This study also examines whether non-restating clients avoid contaminated firms, indicating that the possibility of auditor’s turnover increases with contamination for non-restating clients. The empirical results show that audit firms experience a loss in industry market share following client restatements and find that the likelihood of auditor turnover increases with contamination, even for non-restating clients. In the additional analyses, we find that there is no difference in the effects of contamination between Big4 and non-Big4 auditors. Overall, the evidence suggests that auditors have an incentive to maintain their reputation and provide high-quality audit service to avoid the penalties caused by audit failure.

第一章 緒論 1
第二章 文獻探討及假說推論 4
第三章 研究設計 7
第一節 樣本及資料來源 7
第二節 變數定義與實證模型 8
第四章 研究結果 12
第五章 額外測試 21
第六章 結論 24
參考文獻 27

Arthaud-Day, M. L., S. T. Certo, C. M. D. Dalton, and D. R. Dalton. 2006. A Changing of The Guard: Executive and Director Turnover Following Corporate Financial Restatements. Academy of Management Journal 49 (6): 1119-1136.
Balvers, R. J., B. McDonald, and R. E. Miller. 1988. Underpricing of New Issues and the Choice of Auditor as a Signal of Investment Banker Reputation. The Accounting Review 63 (4): 605-622.
Beattie, V., and S. Fearnley. 1995. The Importance of Audit Firm Characteristics and the Drivers of Auditor Change in UK Listed Companies.
Beatty, R. P. 1989. Auditor Reputation and the Pricing of Initial Public Offerings. The Accounting Review 64 (4): 693-709.
Beneish, M. D., P. E. Hopkins, I. P. Jansen, and R. D. Martin. 2005. Do Auditor Resignations Reduce Uncertainty about the Quality of Firms’ Financial Reporting? Journal of Accounting and Public Policy 24 (5): 357-390.
Burks, J. J. 2010. Disciplinary Measures in Response to Restatements after Sarbanes-Oxley. Journal of Accounting and Public Policy 29 (3): 195-225.
Casterella, J. R., J. R. Francis, B. L. Lewis, and P. L. Walker. 2004. Auditor Industry Specialization, Client Bargaining Power, and Audit Pricing. Auditing: A Journal of Practice ＆ Theory 23 (1): 123-140.
Cheng, Q., and D. B. Farber. 2008. Earnings Restatements, Changes in CEO Compensation, and Firm Performance. Accounting Review 83 (5): 1217-1250.
Choi, J.-H., C. (Francis) Kim, J.-B. Kim, and Y. Zang. 2010. Audit Office Size,Audit Quality, and Audit Pricing. Auditing: A Journal of Practice ＆ Theory 29 (1): 73-97.
Datar, S. M., G. A. Feltham, and J. S. Hughes. 1991. The Role of Audits and Audit Quality in Valuing New Issues. Journal of Accounting and Economics 14 (1): 3-49.
Deangelo, L. E. 1981. Auditor Size and Audit Quality. Journal of Accounting and Economics. 3 (3): 183-199.
DeFond, M., M. Ettredge, and D. B. Smith. 1997. An Investigation of Auditor Resignations. Research in Accounting Regulation 11 (1): 25-46.
DeFond, M., and J. Zhang. 2014. A Review of Archival Auditing Research. Journal of Accounting and Economics 58 (2-3): 275-326.
Desai, H., C. E. Hogan, and M. S. Wilkins. 2006. The Reputational Penalty for Aggressive Accounting: Earnings Restatements and Management Turnover. Accounting Review 81 (1): 83-112.
Dunn, J., D. Hillier, and A. P. Marshall. 1999. The Market Reaction to Auditor Resignations. Accounting and Business Research 29 (2): 95-108.
Ettredge, M., Y. Huang, and W. Zhang. 2012. Earnings Restatements and Differential Timeliness of Accounting Conservatism. Journal of Accounting and Economics 53 (3): 489-503.
Ettredge, M., M. Sherwood, and L. Sun. 2014. Metro Area Office-Client Balance and Audit Market Outcomes. Working paper The University of Kansas and University of North Texas. (July).
Farber, D. B. 2005. Restoring Trust after Fraud: Does Corporate Governance Matter? Accounting Review 80 (2): 539-561.
Francis, J., Kenneth Reichelt, and Wang, D. 2005. The Pricing of National and City-Specific Reputations for Industry Expertise in the U.S. Audit Market. Accounting Review 80 (1): 113-126.
Francis, J. R., and P. N. Michas. 2013. The Contagion Effect of Low-Quality Audits. Accounting Review 88 (2): 521-552.
Francis, Jere R., P. N. Michas, and M. D. Yu. 2013. Office Size of Big 4 Auditors and Client Restatements. Contemporary Accounting Research 30 (4): 1626-1661.
Francis, J. R., and M. D. Yu. 2009. Big 4 Office Size and Audit Quality. The Accounting Review 84 (5): 1521-1552.
Griffin, P. A., and D. H. Lont. 2010. Do Investors Care about Auditor Dismissals and Resignations? What Drives the Response? Auditing: A Journal of Practice ＆ Theory 29 (2): 189-214.
Hennes, K. M., A. J. Leone, and B. P. Miller. 2008. The Importance of Distinguishing Errors from Irregularities in Restatement Research: The Case of Restatements and CEO/CFO Turnover. Accounting Review 83 (6): 1487-1519.
Hennes, K. M., A. J. Leone, and B. P. Miller. 2014. Determinants and Market Consequences of Auditor Dismissals after Accounting Restatements. Accounting Review 89 (3): 1051-1082.
Hilary, G., and C. Lennox. 2005. The Credibility of Self-Regulation: Evidence from the Accounting Profession’s Peer Review Program. Journal of Accounting and Economics 40 (1-3): 211-229.
Huang, Y., and S. Scholz. 2012. Evidence on the Association between Financial Restatements and Auditor Resignations. Accounting Horizons 26 (3): 439-464.
Irani, A. J., S. L. Tate, and L. (Emily) Xu. 2015. Restatements: Do They Affect Auditor Reputation for Quality? Accounting Horizons 29(4): 829-851.
Johnson, W. B., and T. Lys. 1990. The Market for Audit Services. Evidence from Voluntary Auditor Changes. Journal of Accounting and Economics 12 (1-3): 281-308.
Klein, B., and K. B. Leffler. 1981. The Role of Market Forces in Assuring Contractual Performance. Journal of Political Economy 89 (4): 615.
Klock, M. 1994. The Stock Market Reaction to a Change in Certifying Accountant. Journal of Accounting, Auditing ＆ Finance 9 (2): 339-347.
Landsman, W. R., K. K. Nelson, and B. R. Rountree. 2009. Auditor Switches in the Pre-and Post-Enron Eras: Risk or Realignment? Accounting Review 84 (2): 531-558.
Liu, L.-L., K. Raghunandan, and D. Rama. 2009. Financial Restatements and Shareholder Ratifications of the Auditor. Auditing: A Journal of Practice ＆ Theory 28 (1): 225-240.
Mande, V., and M. Son. 2013. Do Financial Restatements Lead to Auditor Changes? Auditing: A Journal of Practice ＆ Theory 32 (2): 119-145.
Mayhew, B. W., and M. S. Wilkins. 2003. Audit Firm Industry Specialization as a Differentiation Strategy: Evidence from Fees Charged to Firms Going Public. Auditing: A Journal of Practice ＆ Theory 22 (2): 33-52.
Milgrom, P., and J. Roberts. 1992. Economics, Organization and Management. Englewood Cliffs, NJ: Prentice-Hall.
Palmrose, Z.-V., V. J. Richardson, and S. Scholz. 2004. Determinants of Market Reactions to Restatement Announcements. Journal of Accounting and Economics 37 (1): 59-89.
Schwartz, K. B., and B. S. Soo. 1995. An Analysis of Form 8-K Disclosures of Auditor Changes by Firms Approaching Bankruptcy. Auditing: A Journal of Practice ＆ Theory 14 (1): 124-136.
Shapiro, C. 1983. Premiums for High Quality Products as Returns to Reputations. The Quarterly Journal of Economics 98 (4): 659.
Srinivasan, S. 2005. Consequences of Financial Reporting Failure for Outside Directors: Evidence from Accounting Restatements and Audit Committee Members. Journal of Accounting Research (Wiley-Blackwell) 43 (2): 291-334.
Swanquist, Q. T., and R. L. Whited. 2015. Do Clients Avoid “Contaminated Offices? The Economic Consequences of Low-Quality Audits. Accounting Review 90 (6): 2537-2570.
Titman, S., and B. Trueman. 1986. Information Quality And The Valuation of New Issues. Journal of Accounting ＆ Economics 8 (2): 159-172.
Wells, D. W., and M. L. Loudder. 1997. The Market Effects of Auditor Resignations. Auditing: A Journal of Practice ＆ Theory 16 (1): 138-144.
Whisenant, J. S., S. Sankaraguruswamy, and K. Raghunandan. 2003. Market Reactions to Disclosure of Reportable Events. Auditing: A Journal of Practice ＆ Theory 22 (1): 181.
Wilson, W. M. 2008. An Empirical Analysis of the Decline in the Information Content of Earnings Following Restatements. Accounting Review 83 (2): 519-548.
劉嘉雯. 2004. 匯豐事件對審計客戶影響之實證研究. 會計評論 (39): 25-53.
李建然與陳政芳. 2004. 審計客戶重要性與盈餘管理：以五大事務所組別為觀察標的. 會計評論 (38): 59-80.
黃劭彥;卓佳慶;蔡昀瑾;林琦珍. 2015. 影響會計師懲戒對簽證客戶資訊蔓延效果之因素 The Influential Elements of Contagion Effect of Auditor Sanction on Client Stock Price Reactions: 63-96.