Essays on Intellectual Capital and Audit Pricing

• Main Authors: Meng-Chun Kao, 高孟君
• Other Authors: Jiun-Fei Chiu
• Format: Others
• Language: en_US
• Published: 2008
• Online Access: http://ndltd.ncl.edu.tw/handle/34216966013135000299

博士 === 元智大學 === 管理研究所 === 96 === This thesis includes two independent essays. The first is to investigate what are the intellectual capital development strategies of fabless integrated circuit design (FICD) houses in Taiwan and China. Furthermore, we compare the differences between them. The second essay is to employ the dynamic structure of audit fees in audit pricing, moreover, we also find out the rigidity of audit fees adjustment. The first essay is called “Comparison of Intellectual Capital Development Strategies between Taiwanese and Chinese Fabless Integrated Circuit Design Houses” This study purposely aims at looking insight into intellectual development in business firms, by sampling fabless integrated circuit design (FICD) houses respectively from Taiwan and China, two groups, as examples. First, construct intellectual capital development strategies by utilizing literature review, numerous depth-interviews and Delphi method to confirm validity of our questionnaire. Methodologically, it employs analytic hierarchy process (AHP) and Wilcoxon test to explore and compares major construction of intellectual capital and development strategies in individual companies. Finally, this study concludes that human capital, being recognized as the core construction of companies’ intellectual capital, is the same throughout replied companies. However, FICD houses in Taiwan are inclined to be more concerned with innovation capital, while those in China emphasize differently on building-up of structure capital. Accordingly, development strategies respectively related to human capital, structural capital and innovation capital are found significantly different between these two groups. The second essay is called “An Empirical Investigation of Applying Dynamic Model to Audit Pricing”. This paper employs a new approach to explore the dynamic adjustment structure of audit pricing. A general form of the dynamic regression model is proposed to characterize the audit pricing. Hypotheses are tested on a sample of 2,118 U.S. publicly-listed firms in the dynamic model. The findings are consistent with the hypotheses that the relationship of consecutive audit fees is significantly positive and the explanatory power is much higher in the dynamic model than in conventional ones. Furthermore, auditors’ price adjustment behavior can be described by partial adjustment model and the robustness tests confirm the consistency of our findings.