Takeover premiums and the perception of auditor independence and reputation

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dc.contributor.author Bugeja, Martin en_US
dc.contributor.editor en_US
dc.date.accessioned 2012-10-12T03:35:06Z
dc.date.available 2012-10-12T03:35:06Z
dc.date.issued 2011 en_US
dc.identifier 2011002216 en_US
dc.identifier.citation Bugeja Martin 2011, 'Takeover premiums and the perception of auditor independence and reputation', Academic Press, vol. 43, pp. 278-293. en_US
dc.identifier.issn 0890-8389 en_US
dc.identifier.other C1 en_US
dc.identifier.uri http://hdl.handle.net/10453/18913
dc.description.abstract This study investigates if there is a positive association between takeover premiums and the bidder?s perception of target firm auditor reputation and independence. Using auditor size as a proxy for auditor reputation, the results indicate that in hostile takeovers target shareholders receive a higher takeover premium when a Big 4 auditor audits the target firm prior to the takeover. This result is only significant, however, in the period prior to the highly publicised audit failures. The impact of perceived auditor independence on takeover premiums is studied using the levels and size of non-audit service (NAS) fees provided by the target firm auditor. Using three proxies for auditor independence, the results show no association between perceived auditor independence and takeover premiums. This finding is robust to partitioning the sample by auditor size, takeover hostility and splitting the sample into takeovers pre- and post- the corporate scandals that occurred in 2002. en_US
dc.language en_US
dc.publisher Academic Press en_US
dc.relation.hasversion Accepted manuscript version en_US
dc.rights NOTICE: this is the author’s version of a work that was accepted for publication in The British Accounting Review. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in The British Accounting Review, Volume 43, Issue 4, December 2011, Pages 278–293 DOI# http://dx.doi.org/10.1016/j.bar.2011.08.005
dc.title Takeover premiums and the perception of auditor independence and reputation en_US
dc.parent The British Accounting Review en_US
dc.journal.volume 43 en_US
dc.journal.number en_US
dc.publocation United Kingdom en_US
dc.identifier.startpage 278 en_US
dc.identifier.endpage 293 en_US
dc.cauo.name BUS.School of Accounting en_US
dc.conference Verified OK en_US
dc.for 150102 en_US
dc.personcode 106487 en_US
dc.percentage 100 en_US
dc.classification.name Auditing and Accountability en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords Auditor independence Auditor quality Mergers and acquisitions Takeover premiums en_US
dc.staffid en_US
dc.staffid 106487 en_US

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