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A Basic Quantification of the Competitive Implications of the Demise of Arthur Andersen

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Author Info
Emilie Feldman ()
Abstract

Andersen’s exit from the already-concentrated market for auditing services is shown to have increased market concentration and audit fees. Changes in market concentration are found to be significantly related to changes in audit fees, suggesting that the structure-performance hypothesis is applicable to the post-Andersen accounting industry and that the “Final Four” accounting firms may have exercised market power in this environment. The paper concludes with a discussion of the implications of Andersen’s exit from the market. Copyright Springer Science+Business Media, LLC 2006

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File URL: http://hdl.handle.net/10.1007/s11151-006-9117-5
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Publisher Info
Article provided by Springer in its journal Review of Industrial Organization.

Volume (Year): 29 (2006)
Issue (Month): 3 (November)
Pages: 193-212
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:revind:v:29:y:2006:i:3:p:193-212

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Web page: http://www.springerlink.com/link.asp?id=100336

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Related research
Keywords: Arthur Andersen; accounting; audit fees; market concentration; market power; structure-performance hypothesis;

References listed on IDEAS
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  1. Gregory Werden, 2000. "Market Delineation under the Merger Guidelines: Monopoly Cases and Alternative Approaches," Review of Industrial Organization, Springer, vol. 16(2), pages 211-218, March. [Downloadable!] (restricted)
  2. Paul K. Chaney, 2002. "Shredded Reputation: The Cost of Audit Failure," Journal of Accounting Research, Blackwell Publishing, vol. 40(4), pages 1221-1245, 09. [Downloadable!] (restricted)
  3. Sullivan, Mary W, 2002. "The Effect of the Big Eight Accounting Firm Mergers on the Market for Audit Services," Journal of Law & Economics, University of Chicago Press, vol. 45(2), pages 375-99, October.
  4. Doogar, Rajib & Easley, Robert F., 1998. "Concentration without differentiation: A new look at the determinants of audit market concentration," Journal of Accounting and Economics, Elsevier, vol. 25(3), pages 235-253, June. [Downloadable!] (restricted)
  5. Tonge, Stanley D. & Wootton, Charles W., 1991. "Auditor concentration and competition among the large public accounting firms: Post-merger status and future implications," Journal of Accounting and Public Policy, Elsevier, vol. 10(2), pages 157-172. [Downloadable!] (restricted)
  6. Barton, David M & Sherman, Roger, 1984. "The Price and Profit Effects of Horizontal Merger: A Case Study," Journal of Industrial Economics, Blackwell Publishing, vol. 33(2), pages 165-77, December. [Downloadable!] (restricted)
  7. Sam Peltzman, 1977. "The Gains and Losses From Industrial Concentration," NBER Working Papers 0163, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  8. Kim, E Han & Singal, Vijay, 1993. "Mergers and Market Power: Evidence from the Airline Industry," American Economic Review, American Economic Association, vol. 83(3), pages 549-69, June. [Downloadable!] (restricted)
  9. Peltzman, Sam, 1979. "The Causes and Consequences of Rising Industrial Concentration: A Reply," Journal of Law & Economics, University of Chicago Press, vol. 22(1), pages 209-11, April.
  10. Scherer, F M, 1979. "The Causes and Consequences of Rising Industrial Concentration," Journal of Law & Economics, University of Chicago Press, vol. 22(1), pages 191-208, April.
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This page was last updated on 2009-12-22.

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