A test of the free cash flow and debt monitoring hypotheses: evidence from audit pricing
Article Abstract:
The positive association between free cash flow and audit fees were shown to be negatively correlated with debt, such that increasing debt will reduce the positive association between free cash flow and audit fees. This relationship is especially true for low growth companies with high debt loads. The observed relationship between debt, free cash flow and audit fees stem from the assessment of risk by the auditor and the effect of debt on non-value-maximizing activities.
Publication Name: The Journal of Accounting and Economics
Subject: Business
ISSN: 0165-4101
Year: 1997
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Which types of analyst firms are more optimistic?
Article Abstract:
The selection of appropriate stock brokerage firms for better stock price analysis is discussed.
Publication Name: The Journal of Accounting and Economics
Subject: Business
ISSN: 0165-4101
Year: 2006
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