Voluntary Audits and the Cost of Debt Capital for Privately Held Firms: Korean Evidence

By Jeong‐Bon Kim, D. Simunic, Michael T. Stein, Cheong H. Yi. 2007

210 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/642b2d3ee902e0e806ed6134a2060949d30c97aa

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Citations in the corpus

Audit Quality and Cost of Debt Capital for Private Firms: Evidence from Finland (2011, unknown): “The finding regarding a debt pricing effect of a Big 4 audit is consistent with evidence from Spain and Korea (Kim et al., 2007; Cano et al., 2008; Gill-de-Albornoz & Illueca Muñoz, 2006), but in conflict to evidence from the US (Fortin & Pittman, 2007).”
Auditing private companies: what do we know? (2017, unknown): “In other words, Minnis (2011) confirms the empirical evidence of Blackwell et al. (1998) and Kim et al. (2011) that financial statement verification influences lenders’ pricing decisions, but finds that in addition to verification affecting the average level of debt pricing, lenders also use…”
Foreign institutional ownership and auditor choice: Evidence from worldwide institutional ownership (2018, background): “, 2012; DeFond & Zhang, 2014), and lower cost of debt and equity capital (Chang et al., 2009; El Ghoul et al., 2016; Gul et al., 2013; Mansi et al., 2004; Pittman & Fortin, 2004; Kim et al., 2011).”
Does the identity of engagement partners matter? An analysis of audit partner reporting decisions (2015, background): “, the cost of debt capital is lower among clients of Big N audit firms and companies with voluntary audits than for companies without voluntary audits (Kim et al. 2011; Minnis 2011).”
Alternative Information Sources and Information Asymmetry Reduction: Evidence from Small Business Debt (2015, background): “…that more sophisticated audited or accruals-based financial statements can lower the cost of small, private business debt, but do not examine firms using cash accounting (Kim et al., 2007; Minnis, 2010) or firms using accrual accounting but not having financial statements (Allee and Yohn, 2009).”
The Demand for Audit in Private Firms: Recent Large-Sample Evidence from the UK (2014, unknown): “This enables Kim et al. (2011) to test the association between voluntary audit and a measure of company interest rates in a large sample over a long time period (n ¼ 72,577 over 16 years).”
Quality of financial reporting: measuring qualitative characteristics (2009, methodology): “Various researchers examined the impact of an audit and the auditors’ report on the economic value of the firm (e.g. Gaeremynck & Willekens, 2003; Kim et al., 2007; Willekens, 2008).”