One day in March 2000, a young man came to the Qiankun Lawyer’s Office, asking for help in a labor dispute. He is Tong Li, 25. He signed a "life-long" labor contract with the Beijing Fenghua Engineering Co....One day in March 2000, a young man came to the Qiankun Lawyer’s Office, asking for help in a labor dispute. He is Tong Li, 25. He signed a "life-long" labor contract with the Beijing Fenghua Engineering Co. Ltd. in June 1999. On January 5 of the following year, however, he demanded termination of the contract on account that he was far from home and he had to take care of his ailing mother. But he was refused. Later on, the workers’ congress of the company issued the rules on the management of labor contract and its detailed implementation rules.展开更多
We examine auditor responses to the voluntary resignation of independent directors.We show that auditors respond by increasing audit fees or rescinding engagement with their clients,but not by increasing their audit e...We examine auditor responses to the voluntary resignation of independent directors.We show that auditors respond by increasing audit fees or rescinding engagement with their clients,but not by increasing their audit effort.Mechanism tests reveal that independent directors’voluntary resignation leads to increased regulatory sanctions and negative media coverage,these relationships are more pronounced after the New Securities Law.Auditor response strategies follow an order of priority:at an acceptable level of perceived risk,auditors increase audit fees;when perceived risk exceeds this level,auditors will discontinue the client relationship.Auditors associate greater risk with firms that have(vs.have not)experienced consecutive voluntary resignations by independent directors.Mandatory resignation has no such effect.展开更多
文摘One day in March 2000, a young man came to the Qiankun Lawyer’s Office, asking for help in a labor dispute. He is Tong Li, 25. He signed a "life-long" labor contract with the Beijing Fenghua Engineering Co. Ltd. in June 1999. On January 5 of the following year, however, he demanded termination of the contract on account that he was far from home and he had to take care of his ailing mother. But he was refused. Later on, the workers’ congress of the company issued the rules on the management of labor contract and its detailed implementation rules.
基金support from the National Social Science Fund of China(grant number:20BJY029).
文摘We examine auditor responses to the voluntary resignation of independent directors.We show that auditors respond by increasing audit fees or rescinding engagement with their clients,but not by increasing their audit effort.Mechanism tests reveal that independent directors’voluntary resignation leads to increased regulatory sanctions and negative media coverage,these relationships are more pronounced after the New Securities Law.Auditor response strategies follow an order of priority:at an acceptable level of perceived risk,auditors increase audit fees;when perceived risk exceeds this level,auditors will discontinue the client relationship.Auditors associate greater risk with firms that have(vs.have not)experienced consecutive voluntary resignations by independent directors.Mandatory resignation has no such effect.
