The DOI matches its Crossref record; 25 of the 25 references it cites were found in a registry or an index.
Cross-Listing Audit Fee Premiums: Theory and Evidence
Abstract
ABSTRACT: We study the effects of cross-listings on audit fees. We first develop a model in which legal environments play a crucial role in determining the auditor's legal liability. Our model and analysis predict that auditors charge higher fees for firms that are cross-listed in countries with stronger legal regimes than they do for non-cross-listed firms and that the cross-listing audit fee premium increases with the difference in the strength of legal regimes between the cross-listed foreign country and the home country. We then empirically test these predictions. The results of our cross-country regressions strongly support our predictions. In addition, we find no significant cross-listing fee premium for firms that are cross-listed in countries whose legal regimes are. no stronger than those of their home countries. This suggests that cross-listing audit fee premiums are associated with increased legal liability and not with increased audit complexity per se. Our findings help explain why cross-listing premiums occur and what determines their magnitude.
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Cites
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Legal Determinants of External Finance
LA PORTA, R., LOPEZ‐DE‐SILANES, F., SHLEIFER, A., & VISHNY, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb02727.x · Cited by 9,783
Earnings management and investor protection: an international comparison
Leuz, C., Nanda, D., & Wysocki, P. D. (2003) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00121-1 · Cited by 5,381
Greene, W. (2000) · University of Maribor digital library (University of Maribor) · Cited by 3,746
The Pricing of Audit Services: Theory and Evidence
Simunic, D. A. (1980) · Journal of Accounting Research · doi:10.2307/2490397 · Cited by 2,824
Self-citationWhat Works in Securities Laws?
LA PORTA, R., LOPEZ‐DE‐SILANES, F., & SHLEIFER, A. (2006) · The Journal of Finance · doi:10.1111/j.1540-6261.2006.00828.x · Cited by 2,785
Detection of Influential Observation in Linear Regression
Cook, R. D. (1977) · Technometrics · doi:10.1080/00401706.1977.10489493 · Cited by 2,268
Corporate governance, investor protection, and performance in emerging markets
Klapper, L. F., & Love, I. (2004) · Journal of Corporate Finance · doi:10.1016/s0929-1199(03)00046-4 · Cited by 2,218
Why are foreign firms listed in the U.S. worth more?
Doidge, C., Karolyi, G. A., & Stulz, R. M. (2004) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00183-1 · Cited by 1,627
GOLBALIZATION, CORPORATE FINANCE, AND THE COST OF CAPITAL
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Cited by
A review of archival auditing research
DeFond, M., & Zhang, J. (2014) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2014.09.002 · Cited by 3,188
Measuring Country Differences in Enforcement of Accounting Standards: An Audit and Enforcement Proxy
Brown, P., Preiato, J., & Tarca, A. (2014) · Journal of Business Finance & Accounting · doi:10.1111/jbfa.12066 · Cited by 417
Metadata
- Authors
- Choi, J.-H., Kim, J.-B., Liu, X., & Simunic, D. A.
- Venue
- The Accounting Review
- Publisher
- American Accounting Association
- Published
- 2009-09-01
- Volume
- 84
- Issue
- 5
- Pages
- 1429-1463
- ISSN
- 0001-4826 (ISSN-L)
- 1558-7967
- OpenAlex
- W2168120868
- Cited by
- 293
- References
- 25
- FWCI
- 39.48
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
