This study is motivated by the view of investment decision usefulness, and investigate the existence and the direction of relevance between auditor tenure and firm's value, and infer the relation between auditor tenure and audit quality. This is different from recent studies provide valuable insights into the debate surrounding auditor tenure by the preparer's view of financial reports. The academics find the better the audit quality, the more investors rely on firms' accounting information, and the better the audit quality, the higher the firm's value. This study extends Ohlson's model to investigate the existence and the direction of relevance between auditor tenure and firm's value on larger firms listed on Taiwan Stock Exchange. The empirical results find that, relevance exists between auditor tenure and firm's value, and the direction of relevance is positive. Audit quality does not deteriorate over time as the auditor tenure lengthens by the view of investor decision.
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