Staging exchange partner choices: When do status and reputation matter?

• 成果类型: Article
• 署名作者: Jensen, Michael; Roy, Aradhana
• 署名单位: University of Michigan System; University of Michigan
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2008
• 页码: 495-516
• 关键词: FIRM INDUSTRY SPECIALIZATION; SECURITIES ANALYSTS; AUDIT SERVICES; AGENCY COSTS; COMPETITION; ACCOUNTABILITY; CONSEQUENCES; performance; strategies; networks

摘要

This study models the choice of exchange partners as a staged process in which a firm first uses status to screen potential partners and then uses reputation to choose a specific firm within the chosen status bracket. We examine our model in the context of the U.S. audit industry and choices of new auditors by former clients of Arthur Andersen following its collapse in 2002. We show that accountability to powerful market institutions is an important determinant of the choice of status bracket, whereas reputations for industry expertise and business integrity are important to the choice of a particular auditor.