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Information Asymmetry and Competitive Bidding in Auditing

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Author Info
F. Gerard Adams
Jean C. Bedard
Karla M. Johnstone

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Abstract

This article finds that clients with greater risk of fraud are less likely to engage prospective auditors in competitive bidding, consistent with the theory that these companies seek to limit access to information that might reveal their high-risk status. In contrast, we find no support for the expectation that companies with higher agency costs will seek competitive auditor bids, due to the need for better monitoring. Our results also show that bidding competition is more likely when the bidding firm is not an industry specialist, when clients have more active corporate governance, and when there are difficulties with the predecessor auditor.(JEL D44, D82, M42) Copyright 2005, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/ei/cbi028
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Publisher Info
Article provided by Oxford University Press in its journal Economic Inquiry.

Volume (Year): 43 (2005)
Issue (Month): 2 (April)
Pages: 417-425
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Handle: RePEc:oup:ecinqu:v:43:y:2005:i:2:p:417-425

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Related research
Keywords:

Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
M42 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Auditing

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This page was last updated on 2009-10-23.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.