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dc.contributor.authorGriffin, Paul Aen_NZ
dc.contributor.authorLont, David Hen_NZ
dc.contributor.authorSun, Yuanen_NZ
dc.identifier.citationGriffin, P. A., Lont, D. H., & Sun, Y. (2007). Agency Problems and Audit Fees: Further Tests of the Free Cash Flow Hypothesis. Accountancy Working Paper Series presented at the AAA 2007 Conference & AFAANZ 2007 Conference.en
dc.description.abstractThis study finds that the agency problems of companies with high free cash flow (FCF) and low growth opportunities induce auditors of companies in the United States to raise audit fees to compensate for the additional effort. We also find that high FCF companies with high growth prospects have higher audit fees. In both cases, higher debt levels moderate the increased fees, consistent with the role of debt as a monitoring mechanism. Other mechanisms to mitigate the agency costs of FCF such as dividend payout and share repurchase (not studied earlier) do not moderate the higher audit fees.en_NZ
dc.relation.ispartofseriesAccountancy Working Paper Seriesen_NZ
dc.subjectAudit feesen_NZ
dc.subjectFree cash flow hypothesisen_NZ
dc.subjectAgency problemsen_NZ
dc.subject.lcshHF Commerceen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.titleAgency Problems and Audit Fees: Further Tests of the Free Cash Flow Hypothesisen_NZ
dc.typeConference or Workshop Item (Seminar, Speech or Other Presentation)en_NZ
dc.description.versionPublisheden_NZ 19:40:15en_NZ
dc.description.refereedPeer Revieweden_NZ & Business Lawen_NZ
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otago.event.dates5-8 Aug 2007 (AAA) & AFANZ 1 - 3 July 2007en_NZ
otago.event.placeAAA Chicago USA & AFAANZ Gold Coast Australiaen_NZ
otago.event.titleAAA 2007 Conference & AFAANZ 2007 Conferenceen_NZ
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