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Specialist audit-quality differentiation in banks: The case of Hong Kong incorporated authorized institutions.

机译：银行的专业审计质量差异：以香港注册的认可机构为例。

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摘要

This study examines specialist-quality differentiation in the market for audit services in banks. Specifically, this study examines whether demand for higher within-industry audit quality is explained by higher bank specific: (1) reporting discretion associated with regulatory capital objectives, (2) information uncertainty arising from market risk exposures, and (3) debt related contracting costs. It is hypothesized that: (1) specialist-quality demand, which is downward slopping in specialist fees, is an increasing function of financial reporting discretion, market risk, and debt related contracting cost, and (2) specialist fees are a positive function of specialist-quality demand, bank operation complexity, and auditor loss-sharing risk.;Two simultaneous-equation analyses are performed on pooled cross-sectional data (1995 to 1997) collected for all Hong Kong incorporated institutions authorized to engage in banking and deposit-taking business. An indirect-generalized least-squares procedure is used to examine the joint determination of the dichotomous specialist reputation (market leader identity) demand and audit fee function. A two-stage least-squares procedure is used to examine jointly the continuous specialist-quality demand and marginal fee function. The effects of five measures of bank reporting discretion are examined: (1) loan loss provisions, (2) miscellaneous gains and losses, (3) issuance of debt capital, (4) issuance of equity capital, and (5) their aggregate. Results on the whole support the hypotheses.
机译：这项研究考察了银行审计服务市场中专家素质的差异。具体而言，本研究调查了银行较高的专业程度是否解释了对更高行业内审计质量的需求：（1）报告与监管资本目标相关的酌处权；（2）由市场风险敞口引起的信息不确定性；以及（3）与债务相关的承包费用。假设：（1）专家素质的需求，即专家费用的下降，是财务报告自由裁量权，市场风险和与债务相关的订约成本的增加功能；以及（2）专家费用是以下因素的积极作用：专家素质的要求，银行运作的复杂性和审计师的亏损分担风险。；对1995-1997年为所有获授权从事银行业务和存款业务的香港注册机构收集的合并横截面数据进行了两个同时方程分析，开展业务。间接广义最小二乘法用于检查二分法专家声誉（市场领导者身份）需求和审计费用函数的联合确定。使用两阶段最小二乘程序共同检查持续的专家质量需求和边际费用函数。审查了五项银行报告自由裁量权的影响：（1）贷款损失准备金；（2）杂项损益；（3）发行债务资本；（4）发行股本资本；（5）总计。总体而言，结果支持这些假设。

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  • 作者

    Lau, Thomas Sing-chiu.;

  • 作者单位

    The Chinese University of Hong Kong (Hong Kong).;

  • 授予单位 The Chinese University of Hong Kong (Hong Kong).;
  • 学科 Business Administration Accounting.;Economics General.;Economics Commerce-Business.
  • 学位 Ph.D.
  • 年度 1999
  • 页码 83 p.
  • 总页数 83
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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