تخصص حسابرس، کیفیت اطلاعات حسابداری و بازده سرمایه گذاری
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تخصص حسابرس، کیفیت اطلاعات حسابداری و بازده سرمایه گذاری

عنوان فارسی مقاله: تخصص حسابرس، کیفیت اطلاعات حسابداری و کارایی سرمایه گذاری
عنوان انگلیسی مقاله: Auditor specialization, accounting information quality and investment efficiency
مجله/کنفرانس: تحقیق در امور بین الملل و امور مالی – Research in International Business and Finance
رشته های تحصیلی مرتبط: حسابداری
گرایش های تحصیلی مرتبط: حسابرسی
کلمات کلیدی فارسی: بازده سرمایه گذاری، کم سرمایه، سرمایه گذاری بیش از حد، تخصص حسابرس، کیفیت اطلاعات حسابداری (AIQ)
کلمات کلیدی انگلیسی: Investment efficiency, Underinvestment, Overinvestment, Auditor specialization, Accounting information quality (AIQ)
نوع نگارش مقاله: مقاله مروری (Review Article)
نمایه: scopus - master journals
شناسه دیجیتال (DOI): https://doi.org/10.1016/j.ribaf.2017.07.006
دانشگاه: Department of Accounting – Faculty of Economics and Management of Sfax – Tunisia
ناشر: الزویر - Elsevier
نوع ارائه مقاله: ژورنال
نوع مقاله: ISI
سال انتشار مقاله: 2017
شاخص H_index: 27 در سال 2017
شاخص SJR: 0.548 در سال 2017
شناسه ISSN: 0275-5319
فرمت مقاله انگلیسی: PDF
تعداد صفحات مقاله انگلیسی: 14
وضعیت ترجمه: ترجمه نشده است
قیمت مقاله انگلیسی: رایگان
آیا این مقاله بیس است: بله
کد محصول: E5303
فهرست انگلیسی مطالب

Highlights


Abstract


Graphical abstract


Keywords


1. Introduction


2. Literature review and hypothesis development


3. Research method and sample


4. Empirical results


5. Robustness analysis: causality effect


6. Conclusions


References

نمونه متن انگلیسی مقاله

Abstract


This study is examined how the auditor specialization moderates the effect of accounting information quality on investment efficiency, i.e., whether the effect of accounting information quality on investment efficiency is increasing or decreasing with the presence of the specialist auditor. The reached result reveals that the accounting information quality appears to help decrease the overinvestment problem. Similarly, the auditor specialization has been discovered to help greatly in improving investment efficiency, while reducing the underinvestment problem. We further find that the accounting information quality and the auditor specialization are two mechanisms with some degree of substitution in enhancing investment efficiency. The accounting information quality is positively associated with investment efficiency for firms whose auditor is an industry specialist. In addition, to check the robustness of the main results, this paper investigates the causal relationships between investment efficiency, auditor specialization and accounting information quality from the dynamic simultaneous-equation models.


1. Introduction


A large theoretical and empirical literature examines the role of the accounting information quality (Bushman et al., 2001; Bushman and Smith, 2001; Bagaeva, 2008; Chan et al., 2009; Chan and Lee, 2009; Zhiying et al., 2012; Ran et al., 2015). One line of research (Biddle and Hilary, 2006; McNichols and Stubben, 2008; Biddle et al., 2009; Chen et al., 2011) suggests that higher quality information enables managers to identify better investment opportunities. Several studies also propose that auditor specialization can be used to reduce the information asymmetry problems (Almutairi et al., 2009; DeBoskey et al., 2012; DeBoskey and Jiang, 2012; Yaghoobnezhada et al., 2014): A specialist’s knowledge of the industry can be developed through vast auditing experience, specialized staff training, and large investments in information technology. This industry-specific knowledge allows specialist auditors to provide higher quality audit service by reducing the information asymmetry through their greater ability to detect significant anomalies. Theoretical models (Balsam et al., 2003; Lai, 2011) predict that, despite the limited evidence, a highly acquired audit quality is extremely useful for improving investment efficiencies, especially with respect to overinvestment. Based on these premises, the main purpose of this paper is to combine these two mechanisms and analyze the effect of the accounting information quality (AIQ) and the auditor specialization on investment efficiency. Chen et al. (2011), who examines the relationship between the information quality and investment, find that financial reporting quality enhances investment in private firms in emerging countries. We also expect to find this association in a sample of industrial firms. In relation to the role of the auditor specialization in investment efficiency, to the best of our knowledge, this is the first study that empirically examines its effect on both underinvestment and overinvestment. As an extension of our research, we examine how the auditor specialization moderates the AIQ effect on investment efficiency, i.e., whether such an AIQ effect on investment efficiency is increasing or decreasing with the presence of a specialist auditor. We could expect both effects:

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