The Nature of Competition in the Audit Market. An Evaluation of the Literature
Main Article Content
Abstract
Keywords:
Article Details
References
ABIDIN, S.; BEATTIE, V.; GOODACRE, A. (2010): “Audit Market Structure, Fees and Choice in a Period of Structural Change: Evidence from the UK – 1998-2003”, The British Accounting Review, 42, pp. 187-206.
BABER, W.; BROOKS, E.; RICKS, W. (1987): “An Empirical Investigation of the Market for Audit Services in the Public Sector”, Journal of Accounting Research, 25 (2), pp. 293-305.
BAIN, J.S. (1951): “Relation of Profit Rate to Industry Concentration”, Quarterly Journal of Economics, 65, pp. 293-324.
BALDWIN, J.R.; GORECKI, P.K. (1989): “Measuring the Dynamics of Market Structure: Concentration and Mobility Statistics for the Canadian Manufacturing Sector”, Annals of Economics and Statistics, 15-16, pp. 315-332.
BANDYOPADHYAY, S.P.; KAO, J. (2004): “Market Structure and Audit Fees: A Local Analysis”, Contemporary Accounting Research, 21 (3), pp. 529-562.
BAUMOL, W.J. (1982): “Contestable Markets: An Uprising in the Theory of Industry Structure”, American Economic Review, 72, pp. 1-15.
BEATTIE, V.; GOODACRE, A.; FEARNLEY, S. (2003): “And Then there Were Four: A Study of UK Audit Market Concentration - Causes, Consequences and the Scope for Market Adjustment”, Journal of Financial Regulation and Compliance, 11 (3), pp. 250-265.
CARCELLO, J.V.; NAGY, A.L. (2004): “Audit Firm Tenure and Fraudulent Financial Reporting”, Auditing: A Journal of Practice & Theory, 23 (2) (September), pp. 55-69.
CARRERA, N.; GUTIÉRREZ, I.; CARMONA, S. (2005): “Concentración en el mercado de auditoría en España: análisis empírico del período 1990-2000”, Revista Española de Financiación y Contabilidad, XXXIV (125) (abril-junio), pp. 423-458.
CARSON, E.; FARGHER, N.; SIMON, D.; TAYLOR, M. (2004): “Audit Fees and Market Segmentation- -Further Evidence on How Client Size Matters within the Context of Audit Fee Models”, International Journal of Auditing, 8, pp. 79-91.
CASO, C.; MARTÍNEZ, A.; RÍO, M.J. (2011): “Los riesgos de concentración en el mercado de auditoría”, Partida Doble, 236, pp. 10-21.
CASTERELLA, J.; JENSEN, K.; KNECHEL, W. (2009): “Is Self-Regulated Peer Review Effective at Signaling Audit Quality?”, The Accounting Review, 84, pp. 713-735.
CAVES, R.E.; PORTER, M.E. (1978): “Market Structure, Oligopoly, and Stability of Market Shares”, The Journal of Industrial Economics, 26 (4), pp. 289-313.
CHAN, D. (1999): “«Low Balling» and Efficiency in a Two Period Specialization Model of Auditing Competition”, Contemporary Accounting Research, 16, pp. 609-642.
CHANEY, P.; JETER, D.; SHIVAKUMAR, L. (2004): “Self-Selection of Auditors and Audit Pricing in Private Firms”, Accounting Review, 79, pp. 51-72.
CHE-AHMAD, A.; HOUGHTON, K. (1996): “Audit Fee Premiums of big Eight Firms: Evidence from the Market for Medium-Size U.K. Auditees”, Journal of International Accounting, Auditing and Taxation, 5 (1), pp. 53-72.
CHEN, C.; LIN, C.; LIN, Y. (2008): “Audit Partner Tenure, Audit Firm Tenure, and Discretionary Accruals: Does Long-Term Auditor Tenure Impair Earnings Quality?”, Contemporary Accounting Research, 25 (2), pp. 415-445.
CHEN, C.; SU, X.; WU, X. (2007): “Market Competitiveness and Big 5 Pricing. Evidence from China’s Binary Market”, The International Journal of Accounting, 42, pp. 1-24.
CHEN, D.; EZZAMEL, M.; GWILLIAM, D.R. (1993): “Determinants of Audit Fees for Quoted UK Companies”, Journal of Business Finance & Accounting, 10 (6), pp. 765-786.
CRASWELL, A.T.; FRANCIS, J.R.; TAYLOR, S.L. (1995): “Auditor Brand Name Reputations and Industry Specialization”, Journal of Accounting and Economics, 20 (3), pp. 297-322.
DANOS, P.; EICHENSEHER, J. (1982): “Audit Industry Dynamics: Factors Affecting Changes in Client-Industry Market Shares”, Journal of Accounting Research, 20, pp. 604-616.
DANOS, P.; EICHENSEHER, J. (1986): “Long-Term Trends Toward Seller Concentration in the US Audit Market”, The Accounting Review, 61 (4), pp. 633-650.
DE FUENTES, C.; PUCHETA, M.C. (2009): “Auditor Independence, Joint Determination of Audit and Non-Audit Fees and the Incident of Qualified Audit Reports”, Academia, Revista Latinoamericana de Administración, 43, pp. 63-92.
DEANGELO, L.E. (1981): “Auditor Independence, «Low Balling», and Disclosure Regulation”, Journal of Accounting and Economics, 3 (2), pp. 113-127.
DEFOND, M.; LENNOX, C. (2011): “The Effect of SOX on Small Auditor Exits and Audit Quality”, Journal of Accounting and Economics, 52 (1), pp. 21-40.
DEMSETZ, H. (1973): “Industry Structure, Market Rivalry, and Public Policy”, Journal of Law and Economics, 16 (April), pp. 1-9.
DOPUCH, N.; SIMUNIC, D.A. (1980): “The Nature of Competition in the Auditing Profession: A Descriptive and Normative View”, en J.W. Buckley e J.G. Weston [ed.]: Regulation and the Accounting Profession. Belmont, CA: Lifetime Learning Publications.
EUROPEAN COMMISSION (2010): Green Paper: Audit Policy: Lessons from the Crisis. . Brussels: European Commission.
EZZAMEL, M.; GWILLIAM, D.R.; HOLLAND, K.M. (1996): “Some Empirical Evidence from Publicly Quoted UK Companies on the Relationship between the Pricing of Audit and Non-Audit Services”, Accounting and Business Research, 27 (1), pp. 3-16.
FELDMAN, E.R. (2006): “A Basic Quantification of the Competitive Implications of the Demise of Arthur Andersen”, Review of Industrial Organization, 29 (3), pp. 193-212.
FERGUSON, A.; FRANCIS, J.; STOKES, D. (2003): “The Effects of Firm-Wide and Office-Level Industry Expertise on Audit Pricing”, The Accounting Review, 78 (2), pp. 429-448.
FERGUSON, A.; STOKES, D.J. (2002): “Brand Name Audit Pricing, Industry Specialization and Leadership Premiums Post-Big 8 and Big 6 Mergers”, Contemporary Accounting Research, 19 (1), pp. 77-110.
FINANCIAL REPORTING COUNCIL (2009): Choice in the UK Audit Market: Fourth Progress Report. London: FRC.
FIRTH, M. (1985): “An Analysis of Audit Fees and their Determination in New Zealand”, Auditing: A Journal of Practice & Theory, (Spring), pp. 23-37.
FIRTH, M.; LAU, T. (2004): “Audit Pricing Following Mergers of Accounting Practices: Evidence from Hong Kong”, Accounting and Business Research, 34 (3), pp. 201-213.
FRANCIS, J. (2011): “A Framework for Understanding and Researching Audit Quality”, Auditing: A Journal of Practice and Theory, 30 (2), pp. 125-152.
FRANCIS, J.; RICHELT, K.; WANG, D. (2005): “The Pricing of National and City-Specific Reputations for Industry Expertise in the U.S. Audit Market”, The Accounting Review, 80 (1), pp. 113-136.
FRANCIS, J.; WILSON, E.R. (1988): “Auditor Changes: A Joint Test of Theories Relating to Agency Costs and Auditor Differentiation”, The Accounting Review, 63 (4), pp. 663-682.
FRANCIS, J.R. (1984): “The Effect of Audit Firm Size on Audit Prices: A Study of the Australian Market”, Journal of Accounting & Economics, 6 (2), pp. 133-151.
FRANCIS, J.R.; STOKES, D.J. (1986): “Audit Prices, Product Differentiation, and Scale Economies: Further Evidence from the Australian Market”, Journal of Accounting Research, 24 (2), pp. 383-393.
GARCÍA BENAU, M.A.; RUIZ BARBADILLO, E.; VICO MARTÍNEZ, A. (1998): Análisis de la estructura del mercado de auditoría en España. Madrid: Instituto de Contabilidad y Auditoría de Cuentas.
GOVERNMENT ACCOUNTABILITY OFFICE (2003): Public Accounting Firms: Mandated Study on Consolidation and Competition. <http://www.gao.gov>. Washington, D.C., WA: GAO.
GOVERNMENT ACCOUNTABILITY OFFICE (2008): Audits of Public Companies: Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action. <http://www.gao.gov/new.items/d08163.pdf>. Washington D.C., WA: GAO.
GRAMLING, A.A.; STONE, D.N. (2001): “Audit Firm Industry Expertise: A Review and Synthesis of the Archival Literature”, Journal of Accounting Literature, 20, pp. 1-29.
GUL, F.A. (1999): “Audit Prices, Product Differentiation and Economic Equilibrium”, Auditing: A Journal of Practice and Theory, 18 (1), pp. 90-100.
HACKENBRACK, K.E.; HOGAN, C.E. (2005): “Client Retention and Engagement Level Pricing”, Auditing: A Journal of Practice & Theory, 24 (1), pp. 7-20.
HAMILTON, J.; LI, Y.; STOKES, D. (2008): “Is the Audit Services Market Competitive Following Arthur Andersen’s Collapse?”, Accounting and Finance, 48 (2), pp. 233-258.
HAY, D.C.; KNECHEL, W.R.; WONG, N. (2006): “Audit Fees: A Meta-Analysis of the Effect of Supply and Demand Attributes”, Contemporary Accounting Research, 23 (1), pp. 141-191.
HOGAN, C.; JETER, D. (1999): “Industry Specialization by Auditors”, Auditing: A Journal of Practice and Theory, (Spring), pp. 1-17.
HUERGO, E. (2005): El diagnóstico de poder de mercado en Economía Industrial: Una revisión de la literatura empírica española del siglo XX. (More Papers in Industrial Organization from EconWPA).
IRELAND, J.C.; LENNOX, C.S. (2002): “The Large Audit Firm Fee Premium: A Case of Selectivity Bias?”, Journal of Accounting, Auditing & Finance, 17 (1), pp. 73-91.
JOHNSON, E.; WALKER, K.; WESTERGAARD, E. (1995): “Supplier Concentration and Pricing of Services in New Zealand”, Auditing: A Journal of Theory and Practice, 2, pp. 74-89.
MARTÍNEZ, A.; CASO, C.; RÍO, M.J. (2005): “Las sociedades cotizadas y la concentración del mercado de auditoría”, Partida Doble, 170, pp. 84-96.
MCMEEKING, K.P.; PEASNELL, K.V.; POPE, P.F. (2007): “The Effect of Large Audit Firm Mergers on Audit Pricing in the UK”, Accounting and Business Research, 37 (4), pp. 301-319.
MENON, K.; WILLIAMS, D.D. (2001): “Long‐Term Trends in Audit Fees”, Auditing: A Journal of Practice & Theory, 20 (1) (March), pp. 115-136.
MONTERREY MAYORAL J.; SÁNCHEZ SEGURA, A. (2007): “Un estudio empírico de los honorarios del auditor”, Cuadernos de Economía y Dirección de la Empresa, 32 (septiembre), pp. 81-110.
PALMROSE, Z. (1986): “Audit Fees and Auditor Size: Further Evidence”, Journal of Accounting Research, 24 (1), pp. 97-110.
PANZAR, J.C.; ROSSE, J.N. (1987): “Testing For “Monopoly” Equilibrium”, The Journal of Industrial Economics, 35 (4), pp. 443-456.
PEARSON, T.; TROMPETER, G. (1994): “Competition in the Market for Audit Services”, Contemporary Accounting Research, 11 (1), pp. 115-135.
PONG, C. (1999): “Auditor Concentration: A Replication and Extension for the UK Audit Market 1991-1995”, Journal of Business Finance & Accounting, 26 (3-4), pp. 451-475.
PONG, C. M.; WHITTINGTON, G. (1994): “The Determinants of Audit Fees: Some Empirical Models”, Journal of Business Finance & Accounting, 21 (8), pp. 1071-1095.
QUICK, R.; WOLZ, M. (1999): “Concentration on the German Audit Market - An Empirical Analysis of the Concentration on the German Market for Stock Corporation Audits”, International Journal of Auditing, 3 (3), pp. 175-189.
RHOADES, S. (1985): “Market Share as a Source of Market Power: Implications and Some Evidence”, Journal of Economic and Business, 37, pp. 343-363.
RODRÍGUEZ, P.I.; RUIZ, E. (2012): “Un análisis de la movilidad intra-industrial en el mercado de auditoría español”, XV Encuentro ASEPUC. Cádiz: Asociación Española de Profesores Universitarios de Contabilidad (ASEPUC).
SCHMALENSEE, R. (1982): “Product Differentiation Advantages of Pioneering Brands”, The American Economic Review, 72 (3), pp. 349-365.
SHEPHERD, W.G. (1997): The Economics of Industrial Organization. 4ª ed. Englewood Cliffs, NJ: Prentice-Hall.
SIMON, D.; TEO, S.; TROMPETER, G. (1992): “A Comparative Study of the Market for Audit Services in Hong Kong, Malaysia, and Singapore”, International Journal of Accounting Education and Research, 27, pp. 234-240.
SIMON, D.T. (1985): “Audit Services Market: Additional Empirical Evidence”, Auditing: A Journal of Practice & Theory, 5, pp. 71-78.
SIMON, D.T.; FRANCIS, J.R. (1988): “The Effects of Auditor Change on Audit Fees: Tests of Price Cutting and Price Recovery”, The Accounting Review, 63 (2), pp. 255-269.
SIMUNIC, D. (1980): “The Pricing of Audit Services: Theory and Evidence”, Journal of Accounting Research, 18 (1), pp. 161-190.
SIMUNIC, D.; STEIN, M. (1987): Product Differentiation in Auditing: Auditor Choice in the Market for Unseasoned New Issues. Vancouver: Canadian Certified General Accountants’ Research Foundation.
TIROLE, J. (1988): The Theory of Industrial Organization, Boston, MA: MIT Press.
TOSCANO MOCTEZUMA, J.A.; GARCÍA BENAU, M.A. (2011): “Estrategias de las cuatro firmas internacionales de la auditoría en México”, Revista Europea de Dirección y Economía de la Empresa, 20 (1), pp. 89-104.
WALLACE, W. (1980): The Economic Role of the Audit in Free and Regulated Market. London: MacMillan.
WILLEKENS, M.; ACHMADI, C. (2003): “Pricing and Supplier Concentration in the Private Client Segment of the Audit Market: Market Power or Competition?”, The International Journal of Accounting, 38 (4), pp. 431-455.
YARDLEY, J.A.; KAUFFMAN, N.L.; CAIRNEY, T.D.; ALBRECHT, W.D. (1992): “Supplier Behaviour in the US Audit Market”, Journal of Accounting Literature, 11, pp. 151-184.