Working Paper

09 January 2019

Do Managers Successfully Shop for Compliant Auditors? Evidence from Accounting Estimates

Existing research on opinion shopping focuses primarily on managers’ attempts to switch auditors in order to avoid the receipt of an unfavorable audit opinion. We extend this literature by examining whether managers successfully...

Mark DeFond | Jieying Zhang | Yuping Zhao
01 June 2007

The Effect of Board Structure on Firm Value: A Multiple Identification Strategies Approach Using Korean Data

Outside directors and audit committees are widely considered to be central elements of good corporate governance. We use a 1999 Korean law as an exogenous shock to assess how board structure affects firm market value. The law mandates...

Bernard Black | Woochan Kim