Acquirers' Abnormal Returns and the Non-Big 4 Auditor Clientele Effect

By Henock Louis. 2005

151 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2bc6e8aea5c73fe32ea9345a945db2ab15a7e71b

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

Citations in the corpus

Geographic Proximity between Auditor and Client: How Does it Impact Audit Quality? (2012, unknown): “The variables BTM and CHGSALE are included to control for firm growth, while LOSS is included to control for potential differences in earnings management 9 In contrast, Louis (2005) suggests that non-Big 4 auditors may provide better-quality audit service to small clients.”
The Effect of SOX on Small Auditor Exits and Audit Quality (2011, background): “For example, Gao et al. (2009) examine whether public companies with market float of $75 million or less manage the size of their float after SOX; Louis (2005) examines acquisition premiums for clients of non-Big 4 auditors; and Weber and Willenborg (2003) examine the audit opinions of ‘‘micro-cap’’”
Common Auditors in M&A Transactions (2016, unknown): “lower announcement returns (Louis, 2005), announcement returns are higher in tender offers”
Earnings Management, Lawsuits, and Stock-for-Stock Acquirers' Market Performance (2008, background): “Louis (2005) also finds a positive association between book-to-market ratios and acquirers’ abnormal returns around merger announcements.”
Shared Auditors in Mergers and Acquisitions (2016, unknown): “Prior research has shown that auditors may influence merger and acquisition activity, even though they may not be bona fide contracted investment advisors—unlike investment banks and transaction attorneys (Louis, 2005; Xie et al., 2013; Golubov et al., 2011; and Niemi et al., 2008).”
Selection models in accounting research (2012, methodology): “…selection models to control for endogeneity in the company’s selection of a Big N or non-Big N audit firm (Kim et al. 2003; Weber and Willenborg 2003; Chaney et al. 2004; Khurana and Raman 2004; Mansi et al. 2004; Louis 2005; Fortin and Pittman 2007; Behn et al. 2008; Choi et al. 2008; Li 2009).”