Feel Good Lost

12.09.2010

Angry Hats, Audit Quality

I haven't given a language update for some time now; I am still studying Chinese like a mad-hatter, or at least trying to. For those interested (assumedly nobody), I am currently doing a trial translation period for a professor of accounting at TamKang University. She has articles which are to be submitted to peer-review journals, and needs them to be translated from the original text, Chinese, into the target text, English. It is very difficult and slow-going at the moment, but also quite fun, and possibly something I would like to do, like DO do. Here is the Abstract: (I am not sure if by posting this I am violating privacy rights?? I hope not).

Audit Quality and Information Asymmetry
Abstract

This study aims to investigate the relationship between audit quality and information asymmetry. An increase in audit quality, the proxy variable representing information asymmetry, is said to correspond with a decrease in cost of capital. Differing from previous research, this paper uses probability of information-based trading (PIN) to extricate the frequency of firms’ trading based on private information as a variable to measure degree of information asymmetry. Additionally, proxy variables are assigned to audit firm size, audit tenure, discretionary accruals, and audit market experts for calculating information asymmetry purposes. Based on empirical results, this paper expands on previous research by proving that, in Taiwan, using higher quality audits can be used to effectively decrease information asymmetry.

Keywords: Auditor quality, Information asymmetry, Probability of information-based trading (PIN).

审计品质与资讯不对称之关联性
摘要

本文旨在检视审计品质与资讯不对称之直接关联。过去文献多以审计品质作为资讯不对称风险的代理变数, 探讨审计品质对资金成本的经济影响，间接推论高审计品质隐含低资讯不对称程度，能使企业资金成本下降。与过去文献不同，本文采用优势资讯交易机率撷取企业私有资讯交易的频率，据此直接衡量企业资讯不对称的程度；同时以会计师事务所规模，会计师查核任期，裁决性应计数与审计市场产业专家作为审计品质的代理变数，实证结果证实审计品质确实能降低企业的资讯不对称。本文补充了过去文献尚未连结的部分，并且提出台湾大型会计师事务所能有效降低资讯不对称，具有较高的审计品质之实证证据。

關鍵字: 審計品質、資訊不對稱、優勢資訊交易機率(PIN)

Day 2: Taroko to Jiqi

This isn't Dayton's camping toothbrush, it is his toothbrush toothbrush.

Here he is observing the gorge.

The beauty does not wear off.

Picture stolen from Ken, there is no reason for me to be in this position.

Dayton looks on

Ken and Dayton, certified trouble makers

We ended up way off the beaten trail

Back to civilization, Hualien, to catch a bus to the next camping spot.

12.01.2010

Day 1: Taipei to Taroko

At the train station in Taipei with who are to be my travel mates for the next week. Kensuke from Japan and Dayton from New Zealand, anticipating the ride to Hualien.

Taipei Main Station

We initially got on the wrong train, were promptly shoed off at the first stop, then transferred to the correct one.

Waiting for the correct train

We had some congee in Hualien, and bought rations for the day of hiking and adventures ahead

After an hour or so bus ride, we arrived in Taroko National Park

Taroko Gorge is awe-inspiring

It makes you feel like a tiny ant part of a giant plan

Then I set up my Christmas gift, thanks Mom and Dad, the tent is real slick!

A day of hiking and southward travel awaits us for tomorrow.

11.17.2010

Small Update

My address will likely be changing at the end of the month, just a heads up to those sending me mail. This is the last week of school for me, which means I will be going home in a month, which means I am happy and sad. Also, I will be going on a 5-day camping trip with two classmates starting on Saturday. We will head to Hualien (Toroko Gorge), and make our way Southward to the very bottom of the island (Kenting). Pictures/blog to follow.