Audit quality, investor protection and earnings management during the financial crisis of 2008: An international perspective

被引：48
|
作者：
Persakis, Anthony [1 ]
Iatridis, George Emmanuel [1 ,2 ]
机构：
[1] Univ Thessaly, Dept Econ, Volos, Greece
[2] EDHEC Business Sch, Roubaix, France
来源：
JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY | 2016年 / 41卷
关键词：
Audit quality; Earnings quality; Investor protection; Financial crisis of 2008; CORPORATE GOVERNANCE; COMMITTEE CHARACTERISTICS; AGENCY PROBLEMS; NONAUDIT FEES; BUSINESS RISK; FIRM; IMPACT; CONSERVATISM; ASSOCIATION; PERFORMANCE;
D O I：
10.1016/j.intfin.2015.12.006
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper investigates the joint effect of global financial crisis of 2008 and investor protection on audit quality and the joint effect of audit quality and investor protection on earnings quality among three clusters based on the country classification of Leuz (2010. Acc. Bus. Res. 40 (3), 229). The results are mixed among clusters and research periods. First, the results show that all measures of audit quality are positively associated with most institutional factors of investor protection in all clusters. Second, audit quality is lower during financial crisis in all clusters and in most of audit quality measures. Third, audit quality is higher (lower) for firms with strong (weak) investor protection and legal enforcement during financial crisis in all clusters. Fourth, we report that earnings quality is stronger (weaker) in countries with strong (weak) investor protection in all clusters before and during the crisis. Fifth, higher (lower) audit quality implies higher (lower) earnings quality in all clusters, irrespective of the financial crisis. Finally, higher (lower) audit quality implies higher (lower) earnings quality in countries with high (low) investor protection in all clusters, irrespective of the financial crisis. (CLeuz) 2015 Elsevier B.V. All rights reserved.
引用
收藏
页码：73 / 101
页数：29
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