This study divides the audit market into the oligopolistic and atomistic segments at MSA level and examine whether the effect of audit market concentration on audit fees and audit quality is the same in these two segments. I find that the market concentration raises the audit fees in the...

What are the implications of major customer dependency, i.e., the degree of a supplier firm's dependency on its major customers, for external auditors? While the conventional view emphasizes the negatives of major customer dependency for client business risk, we find that suppliers with more...