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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/651
Title: The impact of audit quality on firm value: empirical evidence in Vietnam
Authors: Vo Ngoc Nhi 
Keywords: Audit quality;Audit firm experience;Firm value
Issue Date: 2017
Publisher: Vietnamese-German University
Abstract: 
The concern for company's value and how to enhance it has recently been important for entities, their stakeholders and third forces. Therefore, this study aims to investigate the effect of audit quality, which is perceived as external monitoring mechanism, on firm value with the empirical evidence of Vietnam. The research obtains samples of 213 listed companies on Ho Chi Minh Stock Exchange for the period from 2010 to 2016. Audit firm size, audit tenure and audit firm experience are used as proxies for audit quality, while firm value is represented by P/E, P/B. The study applies GMM estimation together with the inclusion of company size, leverage and BVPS as control variables to analyze the data set. The results illustrate the negative and significant impact of audit tenure on P/E, P/B of companies, whilst audit firm experience significantly and positively influences firm value only when measured by P/B. However, the audit firm size has no significant relationship with value of the company, which implies the urgent need for regulators, policy makers to promulgate more standards and implement stricter auditing control so as to reinforce the belief of investors in audited reports as well as audit firm reputation. The thesis findings suggest that with the establishment of mandatory audit firm rotation, the overall firm value and financial performance could be increased.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/651
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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