This paper examines the role played by national-level versus city-specific industry audit experts in mitigating the information asymmetries between borrowers and syndicated loan lenders. Using the framework developed in Ferguson et al. (2003) and Francis et al. (2005), we document that lenders...

We hypothesize that if individual auditors possess unique audit styles that they consistently apply to different audit engagements, then client firms with a common signing auditor will exhibit higher earnings comparability. Using a large sample of Chinese firms, we find that client firms report...