台灣上市（櫃）審計市場競爭嗎？審計公費觀點

Abstract

本文利用Simunic (1980)審計公費訂價架構檢視台灣上市（櫃）審計市場之競爭性，並採行傾向分數配對法修正大型事務所與非大型事務所間之可觀察特性差異所致的樣本選擇偏誤。實證結果發現無論針對大規模或是小規模的客戶，大型事務所均享有公費溢酬。另外，Rosenbaum邊界法結果顯示，上述實證結果對於因不可觀察之特性變數所產生的樣本選擇偏誤問題並不敏感。整體而言，本文結果支持大型事務所公費溢酬可能係審計品質差異性所致，且台灣上市（櫃）審計市場仍具競爭性的論點。

This paper adopts Simunic’s (1980) audit-pricing framework and uses the propensity-score matching method to correct for sample selection bias related to observable differences between the Big4 and non-Big-4 groups to examine whether audit markets in case of listed companies remain competitive in Taiwan. The finding shows that Big 4 firms charge higher fees in both large and small client segments. In addition, the results of Rosenbaum bounds test suggest that the above empirical result is insensitive to the bias problems caused by unobservable factors. Overall, the result supports that the Big4 audit fee premiums may be due to audit-quality differentiation and audit market in the segment of listed companies in Taiwan is still competitive.