References
- Allee, K. D., & Yohn, T. L. (2009). The demand for financial statements in an unregulated environment: An examination of the production and use of financial statements by privately held small businesses. The Accounting Review, 84(1), 1–25. https://doi.org/https://doi.org/10.2308/accr.2009.84.1.1
- Almarayeh, T. S., Aibar-Guzmán, B., & Abdullatif, M. (2020). Does audit quality influence earnings management in emerging markets? Evidence from Jordan. Revista de Contabilidad, 23(1), 64–74. https://doi.org/https://doi.org/10.6018/rcsar.365091
- Antle, R., Gordon, E., Narayanamoorthy, G., & Zhou, L. (2006). The joint determination of audit fees, non-audit fees, and abnormal accruals. Review of Quantitative Finance and Accounting, 27(3), 235–266. https://doi.org/https://doi.org/10.1007/s11156-006-9430-y
- Ashtana, S. C., & Boone, J. P. (2012). Abnormal audit fee and audit quality. Auditing: A Journal of Practice & Theory, 31(3), 1–22.
- Balsam, S., Krishnan, J., & Yang, J. S. (2003). Auditor industry specialization and earnings quality. Auditing: A Journal of Practice & Theory, 22(2), 71–97.
- Basioudis, I. G., Papakonstantinou, E., & Geiger, M. A. (2008). Audit fees, non-audit fees and auditor going-concern reporting decisions in the United Kingdom. Abacus, 44(3), 284–309. https://doi.org/https://doi.org/10.1111/j.1467-6281.2008.00263.x
- Blay, A. D., & Geiger, M. A. (2013). Auditor fees and auditor independence: Evidence from going concern reporting decisions. Contemporary Accounting Research, 30(2), 579–606. https://doi.org/https://doi.org/10.1111/j.1911-3846.2012.01166.x
- Becker, C. L., Defond, M. L., Jiambalvo, J., & Subramanyam, K. R. (1998). The effect of audit quality on earnings management. Contemporary Accounting Research, 15(1), 1–24. https://doi.org/https://doi.org/10.1111/j.1911-3846.1998.tb00547.x
- Beneish, M. D. (1998). Discussion of “Are accruals during initial public offering opportunistic?” Review of Accounting Studies, 3(1/2), 209–221. https://doi.org/https://doi.org/10.1023/A:1009692703952
- Cabal-García, E., De-Andrés-Suarez, J., & Fernández-Méndez, C. (2019). Analysis of the changes in Spanish auditing regulation on audit quality and its differential effect depending on the type of auditor. Revista de Contabilidad, 22(2), 171–186. https://doi.org/https://doi.org/10.6018/rcsar.382241
- Cano, M. (2007). Auditor size and audit quality in non-listed Spanish companies. Spanish Journal of Finance and Accounting-Revista Española de Financiación y Contabilidad, 36(135), 481–507.
- Caramanis, C., & Lennox, C. (2008). Audit effort and earnings management. Journal of Accounting and Economics, 45(1), 116–138. https://doi.org/https://doi.org/10.1016/j.jacceco.2007.05.002
- Chen, C. Y., Lin, C. J., & Lin, Y. C. (2008). Audit partner tenure, audit firm tenure, and discretionary accruals: Does long auditor tenure impair earnings quality? Contemporary Accounting Research, 25(2), 415–445. https://doi.org/https://doi.org/10.1506/car.25.2.5
- Chi, W., Lisic, L. L., & Pevzner, M. (2011). Is enhances audit quality associated with greater real earnings management? Accounting Horizons, 25(2), 315–335. https://doi.org/https://doi.org/10.2308/acch-10025
- Choi, J. H., Kim, J. B., & Zang, Y. (2010). Do abnormally high audit fees impair audit quality? Auditing: A Journal of Practice & Theory, 29(2), 115–140.
- Clatworthy, M. A., Makepeace, G. H., & Peel, M. J. (2009). Selection bias and the Big Four premium: New evidence using Heckman and matching models. Accounting and Business Research, 39(2), 139–166. https://doi.org/https://doi.org/10.1080/00014788.2009.9663354
- De Fuentes, C., & Porcuna, R. (2019). Predicting audit failure: Evidence from auditing enforcement releases. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 48(3), 274–305. https://doi.org/https://doi.org/10.1080/02102412.2018.1524220
- Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1995). Detecting earnings management. The Accounting Review, 70(2), 193–225.
- Dedman, E., & Kausar, A. (2012). The impact of voluntary audit on credit ratings: Evidence from UK private firms. Accounting and Business Research, 42(4), 397–418. https://doi.org/https://doi.org/10.1080/00014788.2012.653761
- Dhaliwal, D. S., Gleason, C. A., Heitzman, S., & Melendrez, K. D. (2008). Auditor fees and cost of debt. Journal of Accounting, Auditing & Finance, 23(1), 23–61.
- Directive 2013/34/EU of the European Parliament and the Council. (2013, June 26). On the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC. Official Journal of the European Union.
- Firth, M. (1997). The provision of non-audit services and the pricing of audit fees. Journal of Business Finance & Accounting, 24(3), 511–525.
- Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory, 30(2), 125–152.
- Francis, J. R., Maydew, E. L., & Sparks, H. C. (1999). The role of big 6 auditors in the credible reporting of accruals. Auditing: A Journal of Practice & Theory, 18(2), 17–34. https://doi.org/https://doi.org/10.2308/aud.1999.18.2.17
- Francis, J. R., & Wang, D. (2008). The joint effect of investor protection and Big 4 audits on earnings quality around the world. Contemporary Accounting Research, 25(1), 157–191. https://doi.org/https://doi.org/10.1506/car.25.1.6
- Gandía, J. L., & Huguet, D. (2018). Differences in audit pricing between voluntary and mandatory audits. Academia Revista Latinoamericana de Administración, 31(2), 336–359. https://doi.org/https://doi.org/10.1108/ARLA-01-2016-0007
- Gandía, J. L., & Huguet, D. (2020). Audit fees and cost of debt: Differences in the credibility of voluntary and mandatory audits. Economic Research-Ekonomska Istraživanja, 33(1), 3071–3092. https://doi.org/https://doi.org/10.1080/1331677X.2019.1678501
- García Osma, B., Gill de Albornoz Noguer, B., & Gisbert Clemente, A. (2005). La investigación sobre earnings management (Research on earnings management). Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 34(127), 1001–1033. https://doi.org/https://doi.org/10.1080/02102412.2005.10779570
- Gul, F. A., Chen, C. J. P., & Tsui, J. S. L. (2003). Discretionary accounting accruals, managers’ incentives, and audit fees. Contemporary Accounting Research, 20(3), 441–464. https://doi.org/https://doi.org/10.1506/686E-NF2J-73X6-G540
- Habib, A., Gong, R., & Hossain, M. (2013). Overvalued equities and audit fees: A research note. Managerial Auditing Journal, 28(8), 755–776. https://doi.org/https://doi.org/10.1108/MAJ-01-2013-0818
- Hay, D. C., Knechel, W. R., & Wong, N. (2006). Audit fees: A meta-analysis of the effect of supply and demand attributes. Contemporary Accounting Research, 23(1), 141–191. https://doi.org/https://doi.org/10.1506/4XR4-KT5V-E8CN-91GX
- Hoitash, R., Markelevich, A., & Barragato, C. A. (2007). Auditor fees and audit quality. Managerial Auditing Journal, 22(8), 761–786. https://doi.org/https://doi.org/10.1108/02686900710819634
- Huguet, D., & Gandía, J. L. (2014). Cost of debt capital and audit in Spanish SMEs. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 43(3), 266–289. https://doi.org/https://doi.org/10.1080/02102412.2014.942154
- Huguet, D., & Gandía, J. L. (2016). Audit and earnings management in Spanish SMEs. Business Research Quarterly, 19(3), 171–187.
- Instituto de Contabilidad y Auditoría de Cuentas, Ministerio de Economía y Empresa. (2018). Situación de la auditoría en España 2018 (Situation of auditing in Spain 2018). http://www.icac.meh.es/Documentos/INFORMES/01.Situaci%C3%B3n.%20de%20la%20Auditor%C3%ADa%20en%20Espa%C3%B1a/08.A%C3%B1o%202018.pdf
- Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193–228. https://doi.org/https://doi.org/10.2307/2491047
- Kim, J.-B., Chung, R., & Firth, M. (2003). Auditor conservatism, asymmetric monitoring, and earnings management. Contemporary Accounting Research, 20(2), 323–359. https://doi.org/https://doi.org/10.1506/J29K-MRUA-0APP-YJ6V
- Kim, J. B., Simunic, D. A., Stein, M. T., & Yi, C. H. (2011). Voluntary audits and the cost of debt capital for privately held firms: Korean evidence. Contemporary Accounting Research, 28(2), 585–615. https://doi.org/https://doi.org/10.1111/j.1911-3846.2010.01054.x
- Kinney, W. R., & Libby, R. (2002). Discussion of “The relation between auditors’ fees for nonaudit services and earnings management”. The Accounting Review, 77(s-1), 107–114. https://doi.org/https://doi.org/10.2308/accr.2002.77.s-1.107
- Larcker, D. F., & Richardson, S. A. (2004). Fees paid to audit firms, accrual choices, and corporate governance. Journal of Accounting Research, 42(3), 625–658. https://doi.org/https://doi.org/10.1111/j.1475-679X.2004.t01-1-00143.x
- Lennox, C., Francis, J. R., & Wang, Z. (2012). Selection models in accounting research. The Accounting Review, 87(2), 589–616. https://doi.org/https://doi.org/10.2308/accr-10195
- Lennox, C., & Pittman, J. A. (2011). Voluntary audits versus mandatory audits. The Accounting Review, 86(5), 1655–1678. https://doi.org/https://doi.org/10.2308/accr-10098
- Minnis, M. (2011). The value of financial statement verification in debt financing: Evidence from private U.S. firms. Journal of Accounting Research, 49(2), 457–506. https://doi.org/https://doi.org/10.1111/j.1475-679X.2011.00411.x
- Niemi, L. (2002). Do firms pay for audit risk? Evidence on risk premiums in audit fees after direct control for audit effort. International Journal of Auditing, 6(1), 37–51. https://doi.org/https://doi.org/10.1111/j.1099-1123.2002.tb00004.x
- Paiva, I. S., Lourenço, I. C., & Curto, J. D. (2019). Earnings management in family versus non-family firms: The influence of analyst coverage. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 48(2), 113–133. https://doi.org/https://doi.org/10.1080/02102412.2018.1463764
- Peel, M. J., & Roberts, R. (2003). Audit fee determinants and auditor premiums: Evidence from the micro-firm sub-market. Accounting and Business Research, 33(3), 207–233. https://doi.org/https://doi.org/10.1080/00014788.2003.9729647
- Reynolds, J. K., & Francis, J. R. (2000). Does size matter? The influence of large clients on office-level auditor reporting decisions. Journal of Accounting and Economics, 30(3), 375–400. https://doi.org/https://doi.org/10.1016/S0165-4101(01)00010-6
- Schelleman, C., & Knechel, W. R. (2012). Short-term accruals and the pricing and production of audit services. Auditing: A Journal of Practice & Theory, 29(1), 221–250.
- Sundgren, S., & Svanström, T. (2013). Audit office size, audit quality and audit pricing: Evidence from small- and medium-sized enterprises. Accounting and Business Research, 43(1), 31–55. https://doi.org/https://doi.org/10.1080/00014788.2012.691710
- Teoh, S. H., Wong, T. J., & Rao, G. R. (1998). Are accruals during initial public offerings opportunistic? Review of Accounting Studies, 3(1/2), 175–208. https://doi.org/https://doi.org/10.1023/A:1009688619882
- Van Tendeloo, B., & Vanstraelen, A. (2008). Earnings management and audit quality in Europe: Evidence from the private client segment market. European Accounting Review, 17(3), 447–469. https://doi.org/https://doi.org/10.1080/09638180802016684
- Wintoki, M. B., Linck, J. S., & Netter, J. M. (2012). Endogeneity and the dynamics of internal corporate governance. Journal of Financial Economics, 105(3), 581–606. https://doi.org/https://doi.org/10.1016/j.jfineco.2012.03.005
- Zaman Groff, M., Trobec, D., & Iglicar, A. (2017). Audit fees and the salience of financial crisis: Evidence from Slovenia. Economic Research-Ekonomska Istraživanja, 30(1), 922–938. https://doi.org/https://doi.org/10.1080/1331677X.2017.1311233