Management Characteristics and Audit Opinion Shopping

Document Type : Original Article

Authors

• Maryam Seifzadeh ¹
• Mahdi Salehi ²
• Bizhan Abedini ³
• Mohammad Hamed Khanmohammadi ⁴
• Mohammad Hossein Ranjbar ⁵

¹ Department of Economics and Administrative Sciences, Qeshm Branch, Islamic Azad University, Qeshm, Iran

² Department of Economics and Administrative Sciences, Ferdowsi University of Mashhad, Mashhad, Iran

³ Department of Economics and Administrative Sciences, Hormozgan University, Hormozgan, Iran

⁴ Department: Economics and Administrative Sciences, Damavand Branch, Islamic Azad University, Damavand, Iran

⁵ Department: Economics and Administrative Sciences, Bandar Abbas Branch, Islamic Azad University, Bandar Abbas, Iran

10.22067/ijaaf.2021.41404

Abstract

The present study assesses the relationship between management characteristics (management entrenchment, narcissism, CEO overconfidence, board effort, real and accrual-based earnings management) and audit opinion shopping in the Tehran Stock Exchange-listed firms. In other words, this paper seeks to answer the question "whether management characteristics can exert a favourable effect on audit opinion shopping or not." For this study, the multivariate regression model is used for hypothesis testing. Research hypotheses are examined using a sample of 1309 observations on the Tehran Stock Exchange during 2012-2018 and by employing the panel data-based multivariate regression and fixed-effects model. The results show a negative and significant relationship between management entrenchment and managers' overconfidence and audit opinion shopping. A positive and meaningful relationship was observed between management narcissism, real and accrual-based earnings management, and board effort and audit opinion shopping.

Keywords

• Management Entrenchment
• CEO Overconfidence
• Real and Accrual-based Earnings Management
• Audit Opinion Shopping
• Board Effort

Main Subjects

• Auditing

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