西南财经大学会计学院朱爱勇教授与合作者的论文“Switching Costs and Market Power in Auditing: Evidence from a Structural Approach”在国际会计学顶刊《The Accounting Review》正式线上发表。
Title: Switching Costs and Market Power in Auditing: Evidence from a Structural Approach
审计中的置换成本与市场力量：来自结构模型估计的证据
摘要
This study provides novel evidence on the magnitude of switching costs in auditing. Using a discrete choice approach, we infer switching costs from clients’ audit firm choices. The demand estimation reveals that switching costs are significant and vary by direction, with the highest costs associated with switching from non-Big 4 to Big 4 audit firms. Counterfactual analyses of forced switches suggest that switching costs are substantial, ranging from 0.7 billion U.S. dollars (14.2 percent of audit fees) to 1.2 billion U.S. dollars (24.0 percent of audit fees) when aggregated across all clients. Counterfactual analyses of voluntary switching show that the audit market would become highly dynamic and more concentrated if switching costs were removed. Additionally, clients would gain consumer surplus of up to 306 million U.S. dollars (5.4 percent of audit fees) in such a scenario. Overall, our study documents the importance of switching costs for understanding audit market dynamics.
这篇文章利用离散选择模型对审计市场上的置换成本进行量化分析，并提供了新颖的研究发现：置换成本的存在显著影响了上市公司的审计选择，其规模大小与转换方向有关，从非四大会计事务所向四大会计事务所产生的转换成本最大。强制轮换的反事实结果表明：每年置换成本的平均规模为6亿8千万至12亿美元左右，大致为整个市场审计费用的14%到24%。而自愿轮换的反事实分析发现当置换成本完全被补贴消除后，整个审计市场会变得更加波动又高度集中，而且上市公司的消费者剩余平均每年大约会增加3亿美元，即审计费用的5.4%左右。总体而言，我们的研究表明置换成本对审计市场的动态变化存在着巨大影响。
【文章链接】https://publications.aaahq.org/accounting-review/article/doi/10.2308/TAR-2022-0416/12791/Switching-Costs-and-Market-Power-in-Auditing
教师简介
朱爱勇
西南财经大学会计学院教授
入选西南财经大学“光华百人计划”。2014年获得德国曼海姆大学经济学博士学位，主要研究方向为资本市场的审计需求与审计竞争，先后在Review of Accounting Studies, The Accounting Review, Journal of International Money and Finance等期刊上发表论文，同时主持国家自然科学基金青年项目等。
资料来源：学说平台
初审：孙晶晶
复审：朱爱勇
终审：唐雪松
