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dc.contributor.authorDeng, Yingwen
dc.contributor.authorHope, Ole-Kristian
dc.contributor.authorWang, Cyndia
dc.contributor.authorZhang, Min
dc.date.accessioned2022-08-16T08:38:04Z
dc.date.available2022-08-16T08:38:04Z
dc.date.created2021-12-06T14:46:43Z
dc.date.issued2021
dc.identifier.citationJournal of Business Finance & Accounting, 49(1-2), 215-248.en_US
dc.identifier.issn0306-686X
dc.identifier.urihttps://hdl.handle.net/11250/3012028
dc.description.abstractUsing a shock to the Chinese capital market and unique and detailed audit-adjustment data, this paper investigates the effect of a capital market liberalization program on auditors’ adjustments to their clients’ financial reports. Employing difference-in-differences tests with propensity score matching and firm fixed effects (FE), we find that the capital market liberalization induced by the implementation of the Shanghai-Hong Kong Stock Connect affects auditors’ professional judgment and leads to audit-adjustment changes stimulated by greater reputational and litigation risks for auditors. Specifically, while the liberalization significantly decreases the frequency and magnitude of upward audit adjustments, the probability of downward adjustments remains the same in most cases. Further evidence shows that the effect is more pronounced for companies with high trading volume from Hong Kong investors, audited by the largest audit firms and with low financial transparency.en_US
dc.description.abstractCapital market liberalization and auditors’accounting adjustments: Evidence from aquasi-experimenten_US
dc.language.isoengen_US
dc.publisherWileyen_US
dc.subjectasymmetric auditor behavioren_US
dc.subjectaudit adjustmentsen_US
dc.subjectauditingen_US
dc.subjectChinaen_US
dc.subjectmonitoring effects of market participantsen_US
dc.subjectregulationsen_US
dc.subjectstock-market liberalizationen_US
dc.titleCapital market liberalization and auditors’accounting adjustments: Evidence from aquasi-experimenten_US
dc.title.alternativeCapital market liberalization and auditors’accounting adjustments: Evidence from aquasi-experimenten_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionacceptedVersionen_US
dc.rights.holderWileyen_US
dc.source.pagenumber34en_US
dc.source.journalJournal of Business Finance & Accountingen_US
dc.identifier.doi10.1111/jbfa.12559
dc.identifier.cristin1965155
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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