Purpose – The aim of the present paper is to examine the impact of agency costs on the demand for non‐audit services (NAS) in Germany. Design/methodology/approach – This study uses data from German listed companies to test whether audit clients vary their purchases of NAS according to...

(Abstract) Although the application of capital market theory is questionable in real estate investment, many institutional investors still perform asset allocation with historic real estate data. Entrepreneurial investment analysis relies on a different information setting. To date it is unclear...

(Abstract) In the market for German real estate finance at the end of 2001 a phenomenon could be identified that shows significant parallels to the shortening of credit supply in the US market in the early nineties, called the credit crunch. There are two basic reasons that explain the...

Compares auditors’ legal liability to third parties in several major countries, with principal emphasis on comparisons between the USA and the UK. Public accountants claim that they are being adversely affected by lawsuits brought by shareholders, creditors and other third parties. It has been...