기업의 소유구조가 감사인의 노력을 고려한 감사품질에 미치는 영향

This study empirically investigates the relation of ownership structure and audit quality considering auditor's effort. Because the previous researches have provided evidences that ownership structure is positively related with the reliability of accounting information, ownership structure will also positively affect audit quality to get the greatest satisfaction at the lowest cost. The results of this study are summarized as follows:First, companies with higher major shareholder's holdings tend to decrease the audit quality. It is why that major shareholders with higher firm's controls pursue more their private interests and do not have the demand of higher audit quality. Namely, the marginal decreasing rate of audit fee is lower than that of audit hour. Companies with higher foreign shareholder's holdings tend to increase the audit quality. According to the previous researches, foreign shareholders want to get good quality accounting information to achieve their purposes. Accordingly, the marginal increasing rate of audit fee is higher than that of audit hours since higher audit fee was paid to choose good auditors with reputation. Second, foreign shareholder’s holding portion and audit quality are associated in the nonlinear relation. But the relation between major shareholder’s holding portion and audit quality is not the non-linearity. In the future, I want these results to be used as empirically based data when the government authorities make policies for efficient accounting auditing.