臺灣博碩士論文加值系統

本研究檢驗銀行業競爭是否與審計費用有關。 為了構建我們的測試，我們通過美國的州際銀行和分支機構效率法案 (IBBEA) 的交錯採用來衡量銀行競爭。 使用 2000 年至 2008 年在美國證券交易所上市的 6,368 家上市公司的樣本，我們的研究提供的證據表明，總部設在銀行業競爭激烈的州的公司支付更高的審計費用。 此外，我們發現，對於風險較高、複雜性較高和對外部金融依賴程度較高的公司而言，銀行業競爭與審計費用之間存在更強的關聯。

This study examines whether banking competition is associated with audit fees. To construct our tests, we use a measure of banking competition through the staggered adoption of the Interstate Banking and Branching Efficiency Act (IBBEA) in the United States. Using the sample of 6,368 public firms listed on the U.S. stock exchange from 2000 to 2008, our research provides evidence that firms with headquarters in states where banking competition is higher pay higher audit fees. In addition, we find a stronger association between banking competition and audit fees for firms with higher risks, more complexity, and high external finance dependence.

Table of Contents

Title Page i
Letter of Approval ii
Abstract in Chinese iii
Abstract in English iv
Acknowledgements v
Table of Contents vi
List of Tables viii
List of Figures ix
1. Introduction 1
2. Literature Review and Hypothesis Development 4
2.1. Interstate U.S. Banking Deregulation 4
2.2. Banking Competition and Corporate Innovation 6
2.3. Corporate Innovation and Audit Fees 8
2.4. How Can Banking Competition Affect Audit Fees? 9
3. Data and Research Method 10
3.1. Sample Selection 10
3.2. Measurement of Banking Competition 11
3.3. Empirical Models 12
4. Empirical Results 14
4.1. Descriptive Statistics 14
4.2. Univariate Results 14
4.3. Main Results 15
4.3.1. Baseline results 15
4.3.2. Verification 17
4.3.3. Mechanisms 17
4.4. Further Analyses 18
4.5. Robustness Tests 19
4.5.1. Adding auditor fixed effect 19
4.5.2. An alternative independent variable 20
4.5.3. 2SLS approach 20
5. Conclusion 21
References 23
Appendix 1 26
Appendix 2 30

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