ERA

Download the full-sized PDF of Do Investors Benefit from Increased Auditor Independence and Auditor Expertise?Download the full-sized PDF

Analytics

Share

Permanent link (DOI): https://doi.org/10.7939/R3M90291W

Download

Export to: EndNote  |  Zotero  |  Mendeley

Communities

This file is in the following communities:

Graduate Studies and Research, Faculty of

Collections

This file is in the following collections:

Theses and Dissertations

Do Investors Benefit from Increased Auditor Independence and Auditor Expertise? Open Access

Descriptions

Other title
Subject/Keyword
Auditing
Independence
Experiment
Expertise
Type of item
Thesis
Degree grantor
University of Alberta
Author or creator
Marshall, Erin E
Supervisor and department
Jamal, Karim (Accounting, Operations and Information Systems)
Examining committee member and department
Weir, Heather (Accounting, Operations and Information Systems)
Emby, Craig (Accounting)
Maier, Michael (Accounting, Operations and Information Systems)
Huson, Mark (Finance and Statistical Analysis)
Department
Faculty of Business
Specialization
Accounting
Date accepted
2015-01-26T11:37:33Z
Graduation date
2015-06
Degree
Doctor of Philosophy
Degree level
Doctoral
Abstract
An implicit assumption of both audit regulation and research is that more auditor independence and more auditor expertise are better for society because they increase investor confidence and participation in markets. To test this assumption, I conduct a multi-period experiment where investors purchase assets in an environment with Auditor Independence (Independent, Non-Independent), Auditor Expertise (Expert, Average) and Information Asymmetry (High, Low). I find that sellers drastically overvalue auditor independence and auditor expertise in early periods and then, after receiving feedback, adjust their valuations downwards. Buyers do not overvalue auditor independence and auditor expertise and instead produce valuations closer to the expected value of the auditor certification. Auditors (rather than investors) extract most of the benefit of increased independence and expertise, especially in markets with high information asymmetry. There is no indication that increasing independence benefits investors.
Language
English
DOI
doi:10.7939/R3M90291W
Rights
Permission is hereby granted to the University of Alberta Libraries to reproduce single copies of this thesis and to lend or sell such copies for private, scholarly or scientific research purposes only. Where the thesis is converted to, or otherwise made available in digital form, the University of Alberta will advise potential users of the thesis of these terms. The author reserves all other publication and other rights in association with the copyright in the thesis and, except as herein before provided, neither the thesis nor any substantial portion thereof may be printed or otherwise reproduced in any material form whatsoever without the author's prior written permission.
Citation for previous publication

File Details

Date Uploaded
Date Modified
2015-06-15T07:04:57.903+00:00
Audit Status
Audits have not yet been run on this file.
Characterization
File format: pdf (PDF/A)
Mime type: application/pdf
File size: 1479090
Last modified: 2015:10:22 06:11:23-06:00
Filename: Dissertation_Marshall_FGSRFORMAT_Dec18.pdf
Original checksum: b010f90fe191ab243a7666dc6819386a
Activity of users you follow
User Activity Date