Contemporary Accounting Research Vol. 25 No. 1 (Spring 2008) pp. 55â99 Â© CAAA doi:10.1506/car.25.1.2 Contemporary Accounting Research et al. (2006), Chaney, Jeter, and Shivakumar (2005), and Simunic (1980) document no evidence of the premium, whereas Francis and Simon (1987) and Higgs and Skantz (2006) ï¬nd mixed evidence on the existence of a Big ï¬rm premium depending on the regression models or samples used.1 In contrast, Ashbaugh, LaFond, and Mayhew (2003) report the existence of a signiï¬cant premium. The mixed evidence on the existence and magnitude of a Big 4 premium across countries raises the following questions: Under what conditions do Big 4 auditors charge higher audit fees than nonâBig 4 auditors? Why does previous research ï¬nd a signiï¬cant Big 4 premium in many countries, but mixed results for the United Kingdom or the United States? Are there any country-level, institutional factors that can explain the observed differences across countries? Our study seeks to shed light on these questions. Because the existing audit fee studies are normally conducted in single-country settings,2 they leave unresolved the question of what institutional factors drive cross-country variations in audit fees, and more speciï¬cally, how these factors inï¬uence the magnitude of the Big 4
Contemporary Accounting Research – Wiley
Published: Mar 1, 2008
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