In essence,the negotiation of license fees on standard essential patent(SEP)belongs to a kind of market be⁃havior,and the pricing right should be given to the market subjects under the requirements of patent law.In re...In essence,the negotiation of license fees on standard essential patent(SEP)belongs to a kind of market be⁃havior,and the pricing right should be given to the market subjects under the requirements of patent law.In recent years,the frequent disputes on SEP license fees witnessed in the industrial and academic worlds,together with the lack of systematic supporting functions like FRAND,make SEP pricing excessively reliant on judicial judgment in practice.Fortunately,a variety of pricing methods have been proposed by theoretical research and practiced in judicial cases,which provide possible solutions for the license fee pricing of SEP from the operational level.In this paper,by focusing on the characteristics of the existing SEP pricing methods in the academic fields and judicial system,the dispute caused by license fees of SEP is clarified firstly,then by combining and interpreting twelve existing pricing methods of license fee of SEP with academic literature and judicial cases,four categories of methods are composed based on the application stages and calculation logic.Thirdly,the application barriers and dilemmas caused by the inherent limita⁃tions of the four categories of methods are analyzed,and the possible ways to put these methods into practice are ex⁃plored.Lastly,suggestions are presented from the aspects of preconditions for application,pricing stages,dispute reso⁃lution mechanisms,and comprehensive applications.The purpose of this paper is to provide enlightenment for getting back on track with the pricing right and further optimization of the pricing mechanism of license fees of SEP.展开更多
This article investigates the relationship between fees for audit and non-audit services with Tobin's Q.Using a sample of Brazilian public companies in the period from 2009 to 2011,we estimate the association betw...This article investigates the relationship between fees for audit and non-audit services with Tobin's Q.Using a sample of Brazilian public companies in the period from 2009 to 2011,we estimate the association between Tobin's Q and the auditors'remuneration scaled by total assets.Additionally,to strengthen the conclusions,we present a second model with the remuneration of the auditors in absolute terms.The results suggest a significant relationship between Tobin's Q and audit and non-audit fees,positive and negative,respectively.Specifically,increases in audit fees and non-audit fees respectively increase and decrease the Tobin's Q of the audited company.The results of this study have important implications for those interested in good corporate governance practices.Managers and board members concerned with value carefully evaluate the remuneration and nature of services creation,when engaging independent auditors,should provided.展开更多
The purpose of this study was to investigate the demand of application of e-wallet in domestic retail industry by examining the needs of adoption of small amount paying method and the reasons for customers’ using of ...The purpose of this study was to investigate the demand of application of e-wallet in domestic retail industry by examining the needs of adoption of small amount paying method and the reasons for customers’ using of IC stored value card in this industry and aimed at providing suggestions on the e-development of small amount paying methods for domestic retail and banking industries. This study was developed in a way that the model constructs in TAM were adapted to the context of using e-wallets for clinic fees. Scale items on the survey include those measuring perceived usefulness, perceived ease of use, a user's attitude toward using and intention. The questionnaire contains no identifying information about the individual participants. A total of 320 Taipei City Hospital patients’ feedbacks were collected. Results indicate most of the relationships in the proposed model are statistically significant and in the predicted directions. Each observed variables influence with two ways: direct effect and indirect effect, and the total effect is the sum of direct effect and indirect effect. The Main effect of most of these observed variables is direct effect, but the information technology experience with the perceived usefulness. In this study, it could be finding that the perceived usefulness, the perceiver ease of use is positively associated with users’ attitude toward using, and the perceiver ease of use is positively associated with the perceived usefulness. It means the useful and easily operation of payment clinic fees with e-wallet products (such as Taipei Easy Card) is very important for the users. Besides, the easier for e-wallet using, the more people think it is usefulness. This suggestion is the same as the point at issue of Davis [1]. The users’ attitude toward using is positively associated with the intention using.展开更多
The evolution of corporate governance has created a competitive environment among the companies to catch the attention of investor＇s confidence. This paper aims to examine the relationship between the audit committee...The evolution of corporate governance has created a competitive environment among the companies to catch the attention of investor＇s confidence. This paper aims to examine the relationship between the audit committee attributes and the audit fees. Specifically, this paper aims to examine the effects of audit committee expertise （number of financial-related director＇s trainings and experience） on audit fees. The data are obtained from annual reports of the population of Bursa Malaysia listed companies for both Main and Ace markets in year 2008. The results show that audit committee size is significant and has a positive association with audit fees. However, audit committee＇s financial related training is significant and has a negative association with audit fees. These results suggest that financial training of audit committee could have an impact on the lower audit fees. However, audit committee expertise is significant and has a positive association with audit fees. This suggests that financial-related training is needed in order to enhance the expertise of audit committee members.展开更多
As one of the alternative variables of audit quality, audit fees have been researched widely in the Mainboard of China stock market, but empirical research based on the GEM （Growth Enterprise Market） of China is ver...As one of the alternative variables of audit quality, audit fees have been researched widely in the Mainboard of China stock market, but empirical research based on the GEM （Growth Enterprise Market） of China is very few. From the perspective of GEM of China, this article observes and studies the impact of corporate governance structure represented by board of directors and independent directors on audit fees. This article selects the data of 348 listed companies in the GEM of China in 2012, proves that there is a positive correlation between the number of meetings, independent directors＇ salaries and audit fees through the use of multiple linear regression model, and accordingly proposed suggestions that improve the corporate governance structure of the GEM of China.展开更多
Based on the data of 923 Chinese listed companies in 2013 to 2014, we investigated the impact of company equity structure on audit fees from the perspective of cross section and period duration. It is found that there...Based on the data of 923 Chinese listed companies in 2013 to 2014, we investigated the impact of company equity structure on audit fees from the perspective of cross section and period duration. It is found that there is a positive correlation between the proportion of state-owned shares in listed companies and audit fees. To be more specific, there is a U-shaped relation between audit fees and equity concentration which is represented by the proportion of the largest shareholder. And the equity restriction ratio, represented by the sum of the proportion of the second largest shareholder to the tenth, has a positive effect on audit fees.展开更多
The audit industry in China has developed rapidly in recent years, the formulation of national policy also needs the support of audit industry. The number of accounting firms has been increasing, and the final audit q...The audit industry in China has developed rapidly in recent years, the formulation of national policy also needs the support of audit industry. The number of accounting firms has been increasing, and the final audit quality in the audit is one of the most concerned by the public. Any product quality and price are equivalent, the higher the cost of investment, the better the quality, the higher the price. The audit process is also the case. This paper is mainly based on the relevant audit fees and audit quality is the summary of the existing research results on the relationship between the two for further exploration, consider the audit pricing regulation and audit industry brand and scale effect, and put forward to improve the audit fees and audit quality relationship advice.展开更多
We examine the relationship between returnee chief executive officers(CEOs)and audit fees in China using robust econometric modeling with 25,630 firm-year observations between 2008 and 2020.A returnee CEO is a Chinese...We examine the relationship between returnee chief executive officers(CEOs)and audit fees in China using robust econometric modeling with 25,630 firm-year observations between 2008 and 2020.A returnee CEO is a Chinese CEO who has previously worked or studied outside China's mainland.Consis-tent with the supply-side argument that returnees improve governance and reduce audit risk,having a returnee CEO is negatively associated with audit fees.This relationship is not sensitive to the source of foreign experience.Firms with(vs.without)returnee CEOs pay lower audit fees.This effect is particu-larly pronounced for state-owned enterprises.Poorly governed,highly com-plex and risky firms benefit most from returnee CEOs in terms of lower audit fees.Our findings are robust across various tests.展开更多
Peer-to-peer(P2P)energy trading provides a promising solution for integrating distributed microgrids(MGs).However,most existing research works on P2P energy trading among MGs ignore the influence of the dynamic networ...Peer-to-peer(P2P)energy trading provides a promising solution for integrating distributed microgrids(MGs).However,most existing research works on P2P energy trading among MGs ignore the influence of the dynamic network usage fees imposed by the distribution system operator(DSO).Therefore,a method of P2P energy trading among MGs based on the optimal dynamic network usage fees is proposed in this paper to balance the benefits of DSO.The interaction between DSO and MG is formulated as a Stackelberg game,in which the existence and uniqueness of optimal dynamic network usage fees are proven.Additionally,the optimal dynamic network usage fees are obtained by transforming the bi-level problem into single-level mixed-integer quadratic programming using Karush-Kuhn-Tucker conditions.Furthermore,the underlying relationship among optimal dynamic network usage fees,electrical distance,and power flow is revealed,and the mechanism of the optimal dynamic network usage fee can further enhance P2P energy trading among MGs.Finally,simulation results on an enhanced IEEE 33-bus system demonstrate that the proposed mechanism achieves a 17.08%reduction in operation costs for MG while increasing DSO revenue by 15.36%.展开更多
This article takes listed companies in China's A-share market that underwent voluntary auditor changes from 2021 to 2024 as the research object,and empirically examines the impact of voluntary auditor changes on c...This article takes listed companies in China's A-share market that underwent voluntary auditor changes from 2021 to 2024 as the research object,and empirically examines the impact of voluntary auditor changes on corporate audit fees.The research results show that:(1)voluntary auditor changes significantly reduce corporate audit fees,indicating that companies have bargaining advantages in auditor selection and can achieve cost savings by changing auditors;(2)The new regulatory regulations released in 2023 have significantly changed the audit pricing mechanism,so that voluntary changes no longer have a fee reduction effect;(3)When establishing an audit committee for a company,voluntary auditor changes can significantly reduce audit fees;(4)When state-owned enterprises voluntarily change auditors,the cost reduction effect of audit fees is more significant;(5)Voluntary auditor changes have partially mediated the cost reduction effect on audit fees by reducing the proportion of non audit services.This article provides empirical evidence for enterprises to optimize their auditor selection strategies,and also provides insights for regulatory authorities to identify irrational low price competition in the audit market and regulate pricing order.展开更多
This research contributes to understanding the spillover effect of customer digital transformation along the supply chain.We take a supply chain relationship perspective to explore the influence of customers’digital ...This research contributes to understanding the spillover effect of customer digital transformation along the supply chain.We take a supply chain relationship perspective to explore the influence of customers’digital transformation on suppliers’audit fees and find a significant reduction in such fees when customers undergo digital transformation.An economic mechanism analysis reveals that this transformation reduces audit fees by lowering the risks and costs encountered by auditors.This is achieved by mitigating suppliers’business risks and improving earnings quality.Heterogeneity analysis reveals that the impact of customers’digital transformation on suppliers’audit fees is more pronounced when the supply chain is geographically distant,suppliers with more specific investments and with high levels of market competition.展开更多
The existing literature on audit opinion shopping provides inconsistent evidence on whether such shopping has any association with abnormal audit fees. In this paper, we hypothesize that firms engage in audit opinion ...The existing literature on audit opinion shopping provides inconsistent evidence on whether such shopping has any association with abnormal audit fees. In this paper, we hypothesize that firms engage in audit opinion shopping and pay an abnormal audit fee only when their degree of accounting quality is low. To examine the issue, we group firms on the basis of their change in return on assets(ROA), and show that abnormal audit fees improve audit opinions only among firms that engage local auditors and have a low degree of ROA, but report a large increase in ROA, especially when the ROA change is the result of abnormal accruals. We find no association between abnormal audit fees and audit opinion improvement for other firms.展开更多
This paper examines the effects of CFO narcissism on audit fees in China.Using the size of CFO signatures in annual audit reports to measure individual narcissism,we find that CFO narcissism is associated with higher ...This paper examines the effects of CFO narcissism on audit fees in China.Using the size of CFO signatures in annual audit reports to measure individual narcissism,we find that CFO narcissism is associated with higher audit fees.We find empirical evidence that CFO narcissism significantly increases the audit fees of listed companies,and this effect is stronger in state-owned enterprises.This paper also explores the mediating effects of financial information and the engagement of prestigious Big-4 and Big-10 firms.The results show that companies with narcissistic CFOs have lower quality financial information and prefer more prestigious firms,which leads to higher audit fees.This research highlights the importance of CFO narcissism in corporate performance and provides new evidence that will be useful for listed companies that plan to hire senior executives.展开更多
This study uses data from companies listed on the Shanghai Stock Exchange to investigate the relationship between corporate governance and audit fees. Full sample results reveal a significant negative relationship bet...This study uses data from companies listed on the Shanghai Stock Exchange to investigate the relationship between corporate governance and audit fees. Full sample results reveal a significant negative relationship between corporate governance and audit fees, and subsample results further show that corporate governance's influence on audit fees is affected by corporate growth. The negative relationship between corporate governance and audit fees is economically and statistically significant in sample companies that grew moderately during the sample period, and mixed or insignificant in companies that experienced overly fast or negative growth.展开更多
This paper studies the impact of an increase in higher education tuition on intergenerational mobility in China.We develop a theoretical model for the parental decision about the investment on education of children to...This paper studies the impact of an increase in higher education tuition on intergenerational mobility in China.We develop a theoretical model for the parental decision about the investment on education of children to illustrate the impact from the perspective of borrowing constraint.We consider the Chinese college tuition and subsidy reform around 1986 as a quasi-natural experiment for identifying the policy effect of the reform on intergenerational educational mobility by using the data from the census of 2000 and the China Family Panel Studies(CFPS).We find that an increase in the education burden induced by the reform of college tuition has reduced intergenerational educational mobility,and it is more noticeable in regions with a relatively higher increment in the tuition fee.Our results are robust with consideration of the co-residence bias,government investment in elementary education,and the higher education expansion.展开更多
First,the MSF and a set of strategies have facilitated an orderly flow of patients and have remodeled the patient distribution configuration among different levels of hospitals.Efforts to increase financial and person...First,the MSF and a set of strategies have facilitated an orderly flow of patients and have remodeled the patient distribution configuration among different levels of hospitals.Efforts to increase financial and personnel support to community health service centers (CHSCs) have been implemented for many years.Unfortunately,the “inverted pyramid” distribution of patients has not been reversed.After the implementation of the MSF,the out-of-pocket cost for attending physicians was increased at tertiary hospitals and reduced or even free at primary hospitals and CHSCs.In contrast,the costs for deputy chief physicians (DCPs),chief physicians (CPs),or honor specialist physicians (HSPs) stayed the same at all levels of hospitals.展开更多
It isn’t often that officialdom helps fi-nance a businessperson’s court fees in a lawsuit where it is the accused.But that is exactly what happened in Chenghua District Chengdu,capital of Sichuan Province,where the ...It isn’t often that officialdom helps fi-nance a businessperson’s court fees in a lawsuit where it is the accused.But that is exactly what happened in Chenghua District Chengdu,capital of Sichuan Province,where the local government recently took the sur-prising action of assisting plaintiff and auto parts manufacturer Gu Kui in fighting a court battle to sue itself.展开更多
Local governments often charge developers impact fees to finance local public goods. This has been practiced in Chinese cities for more than two decades; however, no empirical studies have tested the effect of impact ...Local governments often charge developers impact fees to finance local public goods. This has been practiced in Chinese cities for more than two decades; however, no empirical studies have tested the effect of impact fees on real estate prices. Using a panel data set for 35 large- and medium-sized cities from 1998 to 2008, we find that impact fees lead to a significant increase in real estate prices. For a given city, an increase in impact fees by one yuan leads to an increase of about 5 yuan in the price of newly-built housing; a 1% increase in impact fees leads to an increase of 5 percentage points in the housing price index and 7 percentage points in the land price index.展开更多
基金Hierarchical Identification and Cross-Layer Correlation of Key Core Technologies from the Perspective of Industrial Chain Structure (National Social Science Fund of China, 24BTQ067)Chongqing Education Commission (CEC) Funding:Research on the Co-governance Mechanism of Patent Quality Based on the Dual-Filter Perspective(24SKGH213)Chongqing Graduate Education and Teaching Funding:Research on the Interdisciplinary Law of Intellectual Property and Optimization of Graduate Talent Training Mode(yjg213122)。
文摘In essence,the negotiation of license fees on standard essential patent(SEP)belongs to a kind of market be⁃havior,and the pricing right should be given to the market subjects under the requirements of patent law.In recent years,the frequent disputes on SEP license fees witnessed in the industrial and academic worlds,together with the lack of systematic supporting functions like FRAND,make SEP pricing excessively reliant on judicial judgment in practice.Fortunately,a variety of pricing methods have been proposed by theoretical research and practiced in judicial cases,which provide possible solutions for the license fee pricing of SEP from the operational level.In this paper,by focusing on the characteristics of the existing SEP pricing methods in the academic fields and judicial system,the dispute caused by license fees of SEP is clarified firstly,then by combining and interpreting twelve existing pricing methods of license fee of SEP with academic literature and judicial cases,four categories of methods are composed based on the application stages and calculation logic.Thirdly,the application barriers and dilemmas caused by the inherent limita⁃tions of the four categories of methods are analyzed,and the possible ways to put these methods into practice are ex⁃plored.Lastly,suggestions are presented from the aspects of preconditions for application,pricing stages,dispute reso⁃lution mechanisms,and comprehensive applications.The purpose of this paper is to provide enlightenment for getting back on track with the pricing right and further optimization of the pricing mechanism of license fees of SEP.
文摘This article investigates the relationship between fees for audit and non-audit services with Tobin's Q.Using a sample of Brazilian public companies in the period from 2009 to 2011,we estimate the association between Tobin's Q and the auditors'remuneration scaled by total assets.Additionally,to strengthen the conclusions,we present a second model with the remuneration of the auditors in absolute terms.The results suggest a significant relationship between Tobin's Q and audit and non-audit fees,positive and negative,respectively.Specifically,increases in audit fees and non-audit fees respectively increase and decrease the Tobin's Q of the audited company.The results of this study have important implications for those interested in good corporate governance practices.Managers and board members concerned with value carefully evaluate the remuneration and nature of services creation,when engaging independent auditors,should provided.
文摘The purpose of this study was to investigate the demand of application of e-wallet in domestic retail industry by examining the needs of adoption of small amount paying method and the reasons for customers’ using of IC stored value card in this industry and aimed at providing suggestions on the e-development of small amount paying methods for domestic retail and banking industries. This study was developed in a way that the model constructs in TAM were adapted to the context of using e-wallets for clinic fees. Scale items on the survey include those measuring perceived usefulness, perceived ease of use, a user's attitude toward using and intention. The questionnaire contains no identifying information about the individual participants. A total of 320 Taipei City Hospital patients’ feedbacks were collected. Results indicate most of the relationships in the proposed model are statistically significant and in the predicted directions. Each observed variables influence with two ways: direct effect and indirect effect, and the total effect is the sum of direct effect and indirect effect. The Main effect of most of these observed variables is direct effect, but the information technology experience with the perceived usefulness. In this study, it could be finding that the perceived usefulness, the perceiver ease of use is positively associated with users’ attitude toward using, and the perceiver ease of use is positively associated with the perceived usefulness. It means the useful and easily operation of payment clinic fees with e-wallet products (such as Taipei Easy Card) is very important for the users. Besides, the easier for e-wallet using, the more people think it is usefulness. This suggestion is the same as the point at issue of Davis [1]. The users’ attitude toward using is positively associated with the intention using.
文摘The evolution of corporate governance has created a competitive environment among the companies to catch the attention of investor＇s confidence. This paper aims to examine the relationship between the audit committee attributes and the audit fees. Specifically, this paper aims to examine the effects of audit committee expertise （number of financial-related director＇s trainings and experience） on audit fees. The data are obtained from annual reports of the population of Bursa Malaysia listed companies for both Main and Ace markets in year 2008. The results show that audit committee size is significant and has a positive association with audit fees. However, audit committee＇s financial related training is significant and has a negative association with audit fees. These results suggest that financial training of audit committee could have an impact on the lower audit fees. However, audit committee expertise is significant and has a positive association with audit fees. This suggests that financial-related training is needed in order to enhance the expertise of audit committee members.
文摘As one of the alternative variables of audit quality, audit fees have been researched widely in the Mainboard of China stock market, but empirical research based on the GEM （Growth Enterprise Market） of China is very few. From the perspective of GEM of China, this article observes and studies the impact of corporate governance structure represented by board of directors and independent directors on audit fees. This article selects the data of 348 listed companies in the GEM of China in 2012, proves that there is a positive correlation between the number of meetings, independent directors＇ salaries and audit fees through the use of multiple linear regression model, and accordingly proposed suggestions that improve the corporate governance structure of the GEM of China.
文摘Based on the data of 923 Chinese listed companies in 2013 to 2014, we investigated the impact of company equity structure on audit fees from the perspective of cross section and period duration. It is found that there is a positive correlation between the proportion of state-owned shares in listed companies and audit fees. To be more specific, there is a U-shaped relation between audit fees and equity concentration which is represented by the proportion of the largest shareholder. And the equity restriction ratio, represented by the sum of the proportion of the second largest shareholder to the tenth, has a positive effect on audit fees.
文摘The audit industry in China has developed rapidly in recent years, the formulation of national policy also needs the support of audit industry. The number of accounting firms has been increasing, and the final audit quality in the audit is one of the most concerned by the public. Any product quality and price are equivalent, the higher the cost of investment, the better the quality, the higher the price. The audit process is also the case. This paper is mainly based on the relevant audit fees and audit quality is the summary of the existing research results on the relationship between the two for further exploration, consider the audit pricing regulation and audit industry brand and scale effect, and put forward to improve the audit fees and audit quality relationship advice.
基金funded by the Xijing University Special FundforHigh-LevelTalents(XJ24B02).
文摘We examine the relationship between returnee chief executive officers(CEOs)and audit fees in China using robust econometric modeling with 25,630 firm-year observations between 2008 and 2020.A returnee CEO is a Chinese CEO who has previously worked or studied outside China's mainland.Consis-tent with the supply-side argument that returnees improve governance and reduce audit risk,having a returnee CEO is negatively associated with audit fees.This relationship is not sensitive to the source of foreign experience.Firms with(vs.without)returnee CEOs pay lower audit fees.This effect is particu-larly pronounced for state-owned enterprises.Poorly governed,highly com-plex and risky firms benefit most from returnee CEOs in terms of lower audit fees.Our findings are robust across various tests.
基金supported by the National Natural Science Foundation of China(No.52107199)the International Corporation Project of Shanghai Science and Technology Commission(No.21190780300).
文摘Peer-to-peer(P2P)energy trading provides a promising solution for integrating distributed microgrids(MGs).However,most existing research works on P2P energy trading among MGs ignore the influence of the dynamic network usage fees imposed by the distribution system operator(DSO).Therefore,a method of P2P energy trading among MGs based on the optimal dynamic network usage fees is proposed in this paper to balance the benefits of DSO.The interaction between DSO and MG is formulated as a Stackelberg game,in which the existence and uniqueness of optimal dynamic network usage fees are proven.Additionally,the optimal dynamic network usage fees are obtained by transforming the bi-level problem into single-level mixed-integer quadratic programming using Karush-Kuhn-Tucker conditions.Furthermore,the underlying relationship among optimal dynamic network usage fees,electrical distance,and power flow is revealed,and the mechanism of the optimal dynamic network usage fee can further enhance P2P energy trading among MGs.Finally,simulation results on an enhanced IEEE 33-bus system demonstrate that the proposed mechanism achieves a 17.08%reduction in operation costs for MG while increasing DSO revenue by 15.36%.
基金supported by the National Natural Science Foundation of China under Grant No.72362001titled'Compensation Incentive Mechanism of Accounting Firms:Theoretical Framework,Incentive Effect Test,and Optimization Reconstruction'.
文摘This article takes listed companies in China's A-share market that underwent voluntary auditor changes from 2021 to 2024 as the research object,and empirically examines the impact of voluntary auditor changes on corporate audit fees.The research results show that:(1)voluntary auditor changes significantly reduce corporate audit fees,indicating that companies have bargaining advantages in auditor selection and can achieve cost savings by changing auditors;(2)The new regulatory regulations released in 2023 have significantly changed the audit pricing mechanism,so that voluntary changes no longer have a fee reduction effect;(3)When establishing an audit committee for a company,voluntary auditor changes can significantly reduce audit fees;(4)When state-owned enterprises voluntarily change auditors,the cost reduction effect of audit fees is more significant;(5)Voluntary auditor changes have partially mediated the cost reduction effect on audit fees by reducing the proportion of non audit services.This article provides empirical evidence for enterprises to optimize their auditor selection strategies,and also provides insights for regulatory authorities to identify irrational low price competition in the audit market and regulate pricing order.
基金support provided by the Fundamental Research Funds for the Central Universities,Zhongnan University of Economics and Law(202411107).
文摘This research contributes to understanding the spillover effect of customer digital transformation along the supply chain.We take a supply chain relationship perspective to explore the influence of customers’digital transformation on suppliers’audit fees and find a significant reduction in such fees when customers undergo digital transformation.An economic mechanism analysis reveals that this transformation reduces audit fees by lowering the risks and costs encountered by auditors.This is achieved by mitigating suppliers’business risks and improving earnings quality.Heterogeneity analysis reveals that the impact of customers’digital transformation on suppliers’audit fees is more pronounced when the supply chain is geographically distant,suppliers with more specific investments and with high levels of market competition.
文摘The existing literature on audit opinion shopping provides inconsistent evidence on whether such shopping has any association with abnormal audit fees. In this paper, we hypothesize that firms engage in audit opinion shopping and pay an abnormal audit fee only when their degree of accounting quality is low. To examine the issue, we group firms on the basis of their change in return on assets(ROA), and show that abnormal audit fees improve audit opinions only among firms that engage local auditors and have a low degree of ROA, but report a large increase in ROA, especially when the ROA change is the result of abnormal accruals. We find no association between abnormal audit fees and audit opinion improvement for other firms.
文摘This paper examines the effects of CFO narcissism on audit fees in China.Using the size of CFO signatures in annual audit reports to measure individual narcissism,we find that CFO narcissism is associated with higher audit fees.We find empirical evidence that CFO narcissism significantly increases the audit fees of listed companies,and this effect is stronger in state-owned enterprises.This paper also explores the mediating effects of financial information and the engagement of prestigious Big-4 and Big-10 firms.The results show that companies with narcissistic CFOs have lower quality financial information and prefer more prestigious firms,which leads to higher audit fees.This research highlights the importance of CFO narcissism in corporate performance and provides new evidence that will be useful for listed companies that plan to hire senior executives.
基金supported by a Nanjing University IAPHD Projectsponsored by the Qing Lan Project of Jiangsu Province
文摘This study uses data from companies listed on the Shanghai Stock Exchange to investigate the relationship between corporate governance and audit fees. Full sample results reveal a significant negative relationship between corporate governance and audit fees, and subsample results further show that corporate governance's influence on audit fees is affected by corporate growth. The negative relationship between corporate governance and audit fees is economically and statistically significant in sample companies that grew moderately during the sample period, and mixed or insignificant in companies that experienced overly fast or negative growth.
基金funding support by the National Science Foundation of China(71773074)the Shanghai Soong Ching Ling Foundation(Lu Jiaxian and Gao Wenying Special Foundation).
文摘This paper studies the impact of an increase in higher education tuition on intergenerational mobility in China.We develop a theoretical model for the parental decision about the investment on education of children to illustrate the impact from the perspective of borrowing constraint.We consider the Chinese college tuition and subsidy reform around 1986 as a quasi-natural experiment for identifying the policy effect of the reform on intergenerational educational mobility by using the data from the census of 2000 and the China Family Panel Studies(CFPS).We find that an increase in the education burden induced by the reform of college tuition has reduced intergenerational educational mobility,and it is more noticeable in regions with a relatively higher increment in the tuition fee.Our results are robust with consideration of the co-residence bias,government investment in elementary education,and the higher education expansion.
文摘First,the MSF and a set of strategies have facilitated an orderly flow of patients and have remodeled the patient distribution configuration among different levels of hospitals.Efforts to increase financial and personnel support to community health service centers (CHSCs) have been implemented for many years.Unfortunately,the “inverted pyramid” distribution of patients has not been reversed.After the implementation of the MSF,the out-of-pocket cost for attending physicians was increased at tertiary hospitals and reduced or even free at primary hospitals and CHSCs.In contrast,the costs for deputy chief physicians (DCPs),chief physicians (CPs),or honor specialist physicians (HSPs) stayed the same at all levels of hospitals.
文摘It isn’t often that officialdom helps fi-nance a businessperson’s court fees in a lawsuit where it is the accused.But that is exactly what happened in Chenghua District Chengdu,capital of Sichuan Province,where the local government recently took the sur-prising action of assisting plaintiff and auto parts manufacturer Gu Kui in fighting a court battle to sue itself.
文摘Local governments often charge developers impact fees to finance local public goods. This has been practiced in Chinese cities for more than two decades; however, no empirical studies have tested the effect of impact fees on real estate prices. Using a panel data set for 35 large- and medium-sized cities from 1998 to 2008, we find that impact fees lead to a significant increase in real estate prices. For a given city, an increase in impact fees by one yuan leads to an increase of about 5 yuan in the price of newly-built housing; a 1% increase in impact fees leads to an increase of 5 percentage points in the housing price index and 7 percentage points in the land price index.
