Conventional heating, ventilating, and air conditioning (HVAC) systems have traditionally used the temperature and the humidity ratio as the quantitative indices of comfort in a room. Recently, the carbon dioxide (CO₂) concentration has also been recognized as having an important contribution to...

Using the unique reporting environment in Korea, this study investigates the determinants of human resource investment in internal controls for 1352 listed firms disclosing the number of personnel who are in charge of internal control-related tasks (IC personnel) from 2005 to 2008. We find that...

Under the assumption that audit quality relates positively to unobservable financial reporting reliability, we investigate whether audit quality is associated with the predictability of accounting earnings by focusing on analyst earnings forecast properties. The evidence shows that analysts'...

With the International Accounting Standards Board (IASB) now considering the question, we examine 16 different definitions of income across three applications: information content, predictive ability and executive compensation contracting. Our results reveal that comprehensive income defined by...

Using the unique reporting environment in Korea, this study investigates the determinants of human resource investment in internal controls for 1352 listed firms disclosing the number of personnel who are in charge of internal control-related tasks (IC personnel) from 2005 to 2008. We find that...

Following large-scale auditor consolidations in the late 1980s and early 1990s, along with Arthur Andersen's collapse in 2001, the global audit market has become highly concentrated during the past 30 years. Many interested parties, including regulators, researchers, and practitioners, disagree...

This study examines whether and how audit quality proxied by the magnitude of absolute discretionary accruals is associated with abnormal audit fees, that is, the difference between actual audit fee and the expected, normal level of audit fee. The results of various regressions reveal that the...

This study examines whether and how audit quality proxied by the magnitude of absolute discretionary accruals is associated with abnormal audit fees, that is, the difference between actual audit fee and the expected, normal level of audit fee. The results of various regressions reveal that the...

This study examines how auditors' reputational damage caused by litigation affects audit clients' borrowing costs. Focusing on a sample of syndicated loans made to non-litigated borrowers, we find that borrowing costs are higher when the firms' auditors are sued for alleged audit failures....