Empirical analysis about the effects of the changes inaudit services on accounting information and the stock market

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In this project, the effects of the changes in audit services on accounting information and the stock market were empirically investigated. We found (1) the degree of conservatism in quarterly earnings became higher after the introduction of auditor’s review on quarterly financial statement and (2) firms with internal control issues report less accurate management forecasts. We presented research achievements including these two findings in several articles, conferences, and books.