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Auditors and Corporate Governance: Evidence from the Public Sector

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  • Mark Schelker

Abstract

Corporate auditors review and evaluate financial statements. To enhance independence the selection process and mandatory auditor rotation requirements have been debated intensively. The available empirical evidence is not conclusive and suffers from serious endogeneity problems. We propose learning from the public sector in which auditors play a similar role and present empirical evidence on the impact of auditor term length and rotation requirements on government performance at the US State level. We find evidence indicating that relatively short as well as extended auditor terms have a negative, and rotation requirements have a positive effect on state credit ratings.
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Suggested Citation

  • Mark Schelker, 2013. "Auditors and Corporate Governance: Evidence from the Public Sector," Kyklos, Wiley Blackwell, vol. 66(2), pages 275-300, May.
  • Handle: RePEc:bla:kyklos:v:66:y:2013:i:2:p:275-300
    DOI: 10.1111/kykl.2013.66.issue-2
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    File URL: http://hdl.handle.net/10.1111/10.1111/kykl.2013.66.issue-2
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    References listed on IDEAS

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    1. repec:bla:joares:v:22:y:1984:i:1:p:1-20 is not listed on IDEAS
    2. Weisbach, Michael S., 1988. "Outside directors and CEO turnover," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 431-460, January.
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    Cited by:

    1. Mark Schelker, 2016. "Unabhängige Finanzkontrolle in der Demokratie," CREMA Working Paper Series 2016-06, Center for Research in Economics, Management and the Arts (CREMA).

    More about this item

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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