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Auditor Partner Tenure and Cost of Equity Capital

Azizkhani, Masoud; Shailer, Gregory; Monroe, Gary


We examine whether audit engagement partner tenure and rotation affect investors' perceptions, as proxied by the ex ante cost of equity capital. We find that partner tenure has a nonlinear relation with the ex ante cost of equity capital for non-Big 4 audit engagements prior to the introduction of partner rotation requirements, and that the imputed gains from partner tenure appear similar to the imputed gains of having a Big 4 auditor. Consistent with the tenure results, we also find that...[Show more]

CollectionsANU Research Publications
Date published: 2013
Type: Journal article
Source: Auditing: A Journal of Practice and Theory
DOI: 10.2308/ajpt-50308


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