题目：Brain Drain or Survival of the Fittest: Determinants and Consequences of Auditors’ Leaving Public Accounting
演讲者：Zhuang Zili 副教授
香港中文大学商学院会计系
时间：2017年4月7日（周五）上午 10：00 - 11:30
地点：嘉庚二205
主持人：熊枫 助理教授
参 加 者：对会计、财务研究有兴趣的师生
论文简介：This study investigates why auditors leave public accounting and the consequences of auditor departures. We find that both individual auditor demographics and audit competency are associated with a departure decision. Specifically, female, young, or non-Big 4 auditors, or those with better education backgrounds have a higher likelihood and hazard of departing public accounting. Audit partners or managers or those with higher audit competency have a lower likelihood and hazard of departure. In terms of consequences, we find that the audit firm is more likely to lose clients whose incumbent auditor departs and it tends to lower audit fees for clients that stay with the audit firm. However, the audit quality of such clients does not change after their auditor’s departure. Interestingly, audit quality decreases for clients whose departed auditors later become corporate executives. Our study provides insights that should be of interest to the audit profession, audit firms, and regulators.
Zili Zhuang is an Associate Professor of Accounting at The Chinese University of Hong Kong. Professor Zhuang received his Bachelor’s degree in international economics from Renmin University of China. He then studied at Tepper School of Business of Carnegie Mellon University where he received MSc and Ph.D. degrees in economics. He joined Fannie Mae in Washington DC as an economist working on credit pricing and analysis after receiving the Ph.D. degree. He obtained post-doctoral graduate training in accounting at the Wharton School of the University of Pennsylvania before starting his academic career at The Chinese University of Hong Kong. Professor Zhuang has broad research interests including capital markets, corporate governance, international accounting, and corporate finance. He has published in top academic journals such as The Accounting Review, Contemporary Accounting Research, Review of Accounting Studies, Journal of Accounting, Auditing and Finance, Journal of Accounting and Public Policy, and Journal of Business Finance and Accounting. He has taught financial and managerial accounting, corporate financial reporting, and management control systems at both the undergraduate and the masters levels.