紀要論文 Industry Level Audit Pricing Competitiveness of the Japanese Market from Big 4 to Big 3 Period

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65 ( 3-4 )  , pp.57 - 80 , 2018-03-25 , 名古屋大学大学院経済学研究科
ISSN:0022-9725
内容記述
The 2006 dissolution of PwC ChuoAoyama significantly changed market share composition of Japanese audit firms which marked the transition from Big 4 period to Big 3 period. This study aims to investigate audit market pricing competitiveness among individual audit firms at the industry level using a sample of Japanese firms listed in the First Section of Tokyo Stock Exchange during the transition from Big 4 period (2004-2005) to Big 3 period (2006-2011). The study investigates the pricing competitiveness among individual audit firms at the industry level by examining the association between audit fee as the dependent variable and as variable of interest while controlling for other variables affecting audit fee using panel fixed effects multivariate regression models. The results show that the audit pricing at the industry level among individual audit firms within Big N and non-Big N audit market remains competitive; even after considering the transition from the Big 4 to the Big 3 period. The competitive audit pricing among individual audit firms suggests that Japanese audit market at the industry level represents a buyer's market where audit clients have more power to set audit pricing.
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