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Choice of Industry Expert Auditors by IPO Firms

Fri, April 25, 3:55 to 5:35pm, Hilton Salt Lake City Center, TBA

Abstract

Industry specialist auditors are of great importance for firms at their initial public offerings because they monitor financial reporting. Research has investigated the effects of high-quality financial reporting on firms’ performance at IPOs and in the post-IPO periods. In this paper, I propose and test a model of factors impacting IPO firms’ choice of an industry expert audit. My results show that the presence of venture capital and proprietary costs are the most important factors, and that both factors decrease the likelihood of employing an industry expert auditor.

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