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The pricing of assurance risk in secondary equity offerings

Fargher, Neil; Mayhew, Brian; Wilkins, Michael


This paper examines the pricing of assurance services in secondary equity offerings (SEOs). Our empirical model extends initial public offering (IPO) fee specifications to include variables that are unique to, or more relevant for, secondary offerings. We document an inverse relationship between SEO fees and a client's ability to delay its secondary offering, suggesting that auditors do not charge as much for SEOs made by relatively mature firms. The relationship reverses, however, when the...[Show more]

CollectionsANU Research Publications
Date published: 2005
Type: Journal article
Source: Journal of Accounting Auditing and Finance (JAAF)


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