本研究旨在探討CEO職涯擔憂對審計公費的影響。過去文獻顯示，職涯擔憂會顯著影響企業的內部經營決策，但對外部個體（如會計師事務所）的影響尚未有深入探討。本研究選取2004年至2023年間美國上市公司作為樣本，利用實證模型檢驗CEO職涯擔憂是否影響審計公費。實證結果顯示，CEO職涯擔憂程度與審計公費呈顯著負相關，表明職涯擔憂程度較高的CEO更傾向於採取保守的經營策略與資訊揭露行為，降低企業經營風險，連帶減少會計師的審計成本與風險補償需求。該負向關係在企業風險較高與由四大會計師事務所查核的情境下更為明顯，說明會計師在此類環境中更敏感地回應 CEO 所展現之風險趨避行為。路徑測試結果亦顯示，CEO 職涯擔憂可透過降低企業營運風險與財報風險，間接影響審計定價機制。整體而言，本研究填補了CEO職涯擔憂與審計公費研究領域的空白，首次將CEO職涯擔憂作為影響審計公費的關鍵因素納入討論，並拓展了職涯擔憂對外部個體影響的理論框架。

This study investigates the impact of CEO career concern on audit fees. While prior literature has shown that career concern significantly influences internal corporate decision-making, its effect on external parties such as audit firms remains underexplored. Using a sample of U.S. publicly listed firms from 2004 to 2023, this study employs empirical models to examine whether CEO career concern affects audit pricing. The results reveal a significant negative association between the level of CEO career concern and audit fees. This finding suggests that CEOs with heightened career concern are more likely to adopt conservative operational strategies and disclosure practices, thereby reducing firm-level risk and the auditor’s need for additional effort or risk compensation. The negative relationship is more pronounced in firms with higher inherent risk and those audited by Big Four accounting firms, indicating that auditors are particularly responsive to CEOs' risk-averse behavior under such conditions. Path analysis further confirms that CEO career concern influences audit pricing indirectly by mitigating operational and reporting risks. Overall, this study fills a gap in the literature by identifying CEO career concern as a critical determinant of audit fees and extends the theoretical framework regarding the external implications of managerial career-related incentives.

Alfonso, E., Brooks, L. Z., Simonov, A., & Zhang, J. H. (2019). CEO career concerns and expectations management. Journal of Applied Accounting Research, 20(3), 267-289.
Bae, G. S., Choi, S. U., Lamoreaux, P. T., & Lee, J. E. (2021). Auditors' fee premiums and low‐quality internal controls. Contemporary Accounting Research, 38(1), 586-620.
Baginski, S. P., Campbell, J. L., Hinson, L. A., & Koo, D. S. (2018). Do career concerns affect the delay of bad news disclosure?. The Accounting Review, 93(2), 61-95.
Bedard, J. C., & Johnstone, K. M. (2004). Earnings manipulation risk, corporate governance risk, and auditors' planning and pricing decisions. The accounting review, 79(2), 277-304.
Bell, T. B., Doogar, R., & Solomon, I. (2008). Audit labor usage and fees under business risk auditing. Journal of accounting research, 46(4), 729-760.
Calderon, T. G., Wang, L., & Klenotic, T. (2012). Past control risk and current audit fees. Managerial Auditing Journal, 27(7), 693-708.
Chen, L., Liao, C. H., Tsang, A., & Yu, L. (2023). CEO career concerns in early tenure and corporate social responsibility reporting. Contemporary Accounting Research, 40(3), 1545-1575.
Cheng, Z., Wangrow, D. B., & Barker III, V. L. (2024). Career concerns of young and old CEOs: Their effect on R&D spending in the software industry. Long Range Planning, 102438.
Chevalier, J., & Ellison, G. (1999). Career concerns of mutual fund managers. The Quarterly Journal of Economics, 114(2), 389-432.
Cohen, J. R., & Hanno, D. M. (2000). Auditors' consideration of corporate governance and management control philosophy in preplanning and planning judgments. Auditing: A Journal of Practice & Theory, 19(2), 133-146.
Collier, P., & Gregory, A. (1996). Audit committee effectiveness and the audit fee. European Accounting Review, 5(2), 177-198.
Cziraki, P., & Groen-Xu, M. (2014). CEO career concerns and risk taking. Revolution.
Demers, E., & Wang, C. (2010). The impact of CEO career concerns on accruals based and real earnings management. Available at SSRN 1466029.
Ding, K., & Jaggi, B. (2022). CEO career concerns and the precision of management earnings forecasts. Review of Quantitative Finance and Accounting, 58, 69-100.
Duellman, S., Hurwitz, H., & Sun, Y. (2015). Managerial overconfidence and audit fees. Journal of contemporary accounting & economics, 11(2), 148-165.
Felstead, A., & Gallie, D. (2004). For better or worse? Non-standard jobs and high involvement work systems. The International Journal of Human Resource Management, 15(7), 1293-1316.
Francis, B., Hasan, I., Liu, L., Wu, Q., & Zhao, Y. (2021). Financial analysts' career concerns and the cost of private debt. Journal of Corporate Finance, 67, 101868.
Francis, J. R., Michas, P. N., & Yu, M. D. (2013). Office size of Big 4 auditors and client restatements. Contemporary Accounting Research, 30(4), 1626-1661.
Fullerton, A. S., & Wallace, M. (2007). Traversing the flexible turn: US workers’ perceptions of job security, 1977–2002. Social Science Research, 36(1), 201-221.
Ge, W., & Kim, J. B. (2020). How does the executive pay gap influence audit fees? The roles of R&D investment and institutional ownership. Journal of Business Finance & Accounting, 47(5-6), 677-707.
Gibbons, R., & Murphy, K. J. (1992). Optimal incentive contracts in the presence of career concerns: Theory and evidence. Journal of political Economy, 100(3), 468-505.
Graham, J. R., Harvey, C. R., & Puri, M. (2013). Managerial attitudes and corporate actions. Journal of financial economics, 109(1), 103-121.
Gul, F. A., Khedmati, M., Lim, E. K., & Navissi, F. (2018). Managerial ability, financial distress, and audit fees. Accounting Horizons, 32(1), 29-51.
Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of management review, 9(2), 193-206.
Harjoto, M. A., Laksmana, I., & Lee, R. (2015). The impact of demographic characteristics of CEOs and directors on audit fees and audit delay. Managerial Auditing Journal, 30(8/9), 963-997.
Hartley, J., Jacobson, D., Klandermans, B., & Van Vuuren, T. (1990). Job insecurity: Coping with jobs at risk. Sage Publications Ltd.
Hay, D. (2013). Further evidence from meta‐analysis of audit fee research. International Journal of Auditing, 17(2), 162-176.
Hay, D. C., Knechel, W. R., & Wong, N. (2006). Audit fees: A meta‐analysis of the effect of supply and demand attributes. Contemporary accounting research, 23(1), 141-191.
Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of accounting and economics, 31(1-3), 405-440.
Hill, J. W., Ramsay, R. J., & Simon, D. T. (1994). Audit fees and client business risk during the S & L Crisis: Empirical evidence and directions for future research. Journal of Accounting and Public Policy, 13(3), 185-203.
Hogan, C. E., & Wilkins, M. S. (2008). Evidence on the audit risk model: Do auditors increase audit fees in the presence of internal control deficiencies?. Contemporary Accounting Research, 25(1), 219-242.
Hong, H., & Kubik, J. D. (2003). Analyzing the analysts: Career concerns and biased earnings forecasts. The Journal of Finance, 58(1), 313-351.
Hong, H., Kubik, J. D., & Solomon, A. (2000). Security analysts' career concerns and herding of earnings forecasts. The Rand journal of economics, 121-144.
Houston, R. W., Peters, M. F., & Pratt, J. H. (1999). The audit risk model, business risk and audit‐planning decisions. The Accounting Review, 74(3), 281-298.
Hrazdil, K., Novak, J., Rogo, R., Wiedman, C., & Zhang, R. (2020). Measuring executive personality using machine‐learning algorithms: A new approach and audit fee‐based validation tests. Journal of Business Finance & Accounting, 47(3-4), 519-544.
Jensen, M. C., & Murphy, K. J. (1990). Performance pay and top-management incentives. Journal of Political Economy, 98(2), 225-264.
Ji, X. D., Lu, W., & Qu, W. (2018). Internal control risk and audit fees: Evidence from China. Journal of Contemporary Accounting & Economics, 14(3), 266-287.
Judd, J. S., Olsen, K. J., & Stekelberg, J. (2017). How do auditors respond to CEO narcissism? Evidence from external audit fees. Accounting Horizons, 31(4), 33-52.
Kalelkar, R., & Khan, S. (2016). CEO financial background and audit pricing. Accounting Horizons, 30(3), 325-339.
Kaszak, S. E., Johnson, E. N., Reckers, P. M., & Reinstein, A. (2024). Narcissism dynamics and auditor skepticism. Journal of Business Ethics, 1-18.
Kinnunen, U., & Nätti, J. (1994). Job insecurity in Finland: Antecedents and consequences. European Journal of Work and Organizational Psychology, 4(3), 297-321.
Li, X. (2002). Performance, herding, and career concerns of individual financial analysts. Available at SSRN 300889.
Li, X., Chen, X., Qi, B., & Tian, G. (2020). Employee quality and audit fee: evidence from China. Accounting & Finance, 60(5), 4533-4566.
Lou, Y., Wang, R., & Zhou, Y. (2017). Non-competes, career concerns, and debt covenants. Available at SSRN 3054876.
Luo, Z. (2023). Ceo career concern and corporate esg performance: Evidence from china. Advances in Economics and Management Research, 7(1), 283-283.
Lyon, J. D., & Maher, M. W. (2005). The importance of business risk in setting audit fees: Evidence from cases of client misconduct. Journal of Accounting Research, 43(1), 133-151.
Park, S. Y., & Yoo, K. H. (2016). CEO career concerns and voluntary disclosure. Journal of Applied Business Research, 32(6), 1603.
Roskies, E., & Louis‐Guerin, C. (1990). Job insecurity in managers: Antecedents and consequences. Journal of Organizational Behavior, 11(5), 345-359.
Saito, Y., & Takeda, F. (2014). Global audit firm networks and their reputation risk. Journal of Accounting, Auditing & Finance, 29(3), 203-237.
Simunic, D. A. (1980). The pricing of audit services: Theory and evidence. Journal of Accounting Research, 161-190.
Watts, R. L., & Zimmerman, J. L. (1986). Positive accounting theory.
Xie, J. (2015). CEO career concerns and investment efficiency: Evidence from China. Emerging Markets Review, 24, 149-159.
Zhang, L., Li, D., Xiao, Z., Jiang, J., & Lu, F. (2024). Does overconfident CEO lead to corporate environmental misconducts? Evidence from China. Plos One, 19(9), e0309957.