to mergers broadly, and to study several audit market dynamics. Unlike most merger settings that primarily allow … that the number of clients switching to the acquiring auditor increases following the merger, however we find that this is … evidence that the merger generates a sustained gain in market share or significant increase in aggregate fees. Our study is …

) generate efficiencies that are reflected in a post- merger reduction in audit hours but not audit quality. Mergers benefit …

. This effect is more pronounced when the acquirer in a merger is an international Big 4 auditor or when a merger leads to a …

transfer on audit performance. For each audit firm merger, we sort all client companies into the treatment and control groups … based on the relative industry expertise of their auditors before the merger. We employ a difference-in-difference approach … between the less and more specialized auditors after the merger. Together, our findings suggest that industry …

merger. The microstructure of the audit industry provides further insights—Non-Big4 audit firms reduce fees after the merger …

investors react more negatively to merger and acquisition announcements when the audit report preceding the announcement …