期刊論文
學年 | 105 |
---|---|
學期 | 2 |
出版(發表)日期 | 2017-02-01 |
作品名稱 | Competition Conditions in Taiwan's Public Accounting Industry |
作品名稱(其他語言) | |
著者 | Bao-Guang Chang, Tai-Hsin Huang, Hsiu-Mei Wang |
單位 | |
出版者 | |
著錄名稱、卷期、頁數 | Accounting and Finance Research 6(1), pp.43-56 |
摘要 | This paper investigates the degree of market competition in the public accounting industry of Taiwan over the period 1994-2008, using the ‘H statistic’ proposed by Panzar & Rosse (1987). Differing from previous works, this paper applies a newly developed model, i.e., the censored stochastic frontier (CSF) model, to test whether the audit market has achieved its long-run equilibrium. The model is superior to the conventional model that requires researchers adding a unity to the dependent variable of returns on assets (ROA) for all observations, forcing the transformed dependent variable to be non-negative. One can then take the natural logarithm of this dependent variable. Evidence shows that Taiwan’s accounting industry is characterized as monopolistic competition with a trend towards perfect competition. The result will help to build up the empirical model for public accounting industry. The CSF model confirms that this industry is already in a long-run equilibrium in the second half of the sample, which validates the use of the Panzar-Rosse model. Conversely, the employment of the conventional approach leads to a rejection of the long-run equilibrium over the entire sample period. |
關鍵字 | Public accounting industry;Degrees of competition;H statistic;Panzar-Rosse model;Long-run equilibrium;Censored stochastic frontier mode |
語言 | en |
ISSN | 1927-5986;1927-5994 |
期刊性質 | 國外 |
收錄於 | |
產學合作 | |
通訊作者 | Bao-Guang Chang |
審稿制度 | 是 |
國別 | CAN |
公開徵稿 | |
出版型式 | ,電子版,紙本 |
相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/109410 ) |