Journal Article The Gains from International Trade and the Backward Countries Get access H. Myint H. Myint Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 22, Issue 2, 1954, Pages 129–142, https://doi.org/10.2307/2296287 Published: 01 January 1954

Journal Article Marx's Mehrwert Concept and Theory of Pure Capitalism Get access H. Gottlieb H. Gottlieb Cambridge, Mass Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 18, Issue 3, 1950, Pages 164–178, https://doi.org/10.2307/2295976 Published: 01 September 1950

A Note on Exchange Stability Get access H. Field H. Field Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 15, Issue 1, 1947, Pages 46–49, https://doi.org/10.2307/2295929 Published: 01 April 1947

Journal Article Rationing and Value Theory Get access H. Makower H. Makower Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 13, Issue 2, 1945, Pages 75–80, https://doi.org/10.2307/2296038 Published: 01 September 1945

Journal Article A General Method for the Comparison of the Price of Living Get access H. Staehle H. Staehle Geneva Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 4, Issue 3, June 1937, Pages 205–214, https://doi.org/10.2307/2967455 Published: 01 June 1937

Journal Article Further Notes on Index Numbers: I Get access H. Staehle H. Staehle Geneva Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 3, Issue 2, February 1936, Pages 153–155, https://doi.org/10.2307/2967510 Published: 01 February 1936

Journal Article A Development of the Economic Theory of Price Index Numbers Get access H. Staehle H. Staehle Geneva Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 2, Issue 3, June 1935, Pages 163–188, https://doi.org/10.2307/2967585 Published: 01 June 1935

Journal Article Advertising Costs and Equilibrium Get access H. Smith H. Smith Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 2, Issue 1, October 1934, Pages 62–65, https://doi.org/10.2307/2967551 Published: 01 October 1934

In this paper, I present a model in which both markets for audit services and nonaudit services (NAS) are oligopolistic. Accounting firms providing both audit services and NAS will employ oligopolistic competition in each of these markets. In addition to auditors' gaining “knowledge spillovers” from auditing to consulting or vice versa, oligopolistic competition in one market will influence the counterpart in the other market ‐ what I call “competition crossovers”. Although scope economies due to knowledge spillovers (for example, cost savings) are always beneficial to auditors, such benefits can entice accounting firms to adopt strategies (for example, price reductions) to compete aggressively in the audit market so that some, or all, firms become worse off. A trade‐off arises between these two economic forces in the two oligopolistic markets. Given the trade‐off between competition crossovers and knowledge spillovers, accounting firms may not reduce their audit prices, even though supplying NAS enables firms to decrease auditing costs — a nontrivial impact of oligopolistic competition in two markets on audit pricing. The empirical implication of my results is that because of competition‐crossover effects between the auditing and consulting service markets, finding empirical evidence for knowledge‐spillover benefits is likely to be difficult. Control variables for “audit‐market concentration” concerned with competition‐crossover effects and “auditor expertise” concerned with knowledge‐spillover benefits should be included in audit‐fee regressions to increase the power of empirical tests. With regard to policy implications, my analyses help explain the impact of the Sarbanes‐Oxley Act on “market segmentation” and, hence, the profitability of accounting firms.

Résumé. L'auteur examine comment le risque d'épuisement des obligations fiscales des sociétés avant la déduction des intérêts débiteurs influe sur leur niveau d'endettement. L'étude diffère des travaux précédents sous trois aspects: 1) elle fait usage de données compilées par l'Internal Revenue Service (IRS) à partir des déclarations de revenus des sociétés plutôt que de données comptables; 2) elle mesure le risque d'épuisement de l'impôt avec plus de précision; et 3) elle fait appel à une méthode reposant sur les séries chronologiques et le calcul des différences d'ordre 1, de sorte que les sociétés servent d'élément d'autocontrôle entre années successives. Ces innovations méthodologiques réduisent les distorsions attribuables à l'erreur de mesure et aux variables omises que l'on retrouvait dans les travaux précédents. Les résultats donnent à penser que, toutes choses étant égales par ailleurs, le risque élevé d'épuisement de l'impôt amène les sociétés à réduire leur utilisation du levier financier. L'étude fournit également des données confirmant pour la première fois que les impôts des particuliers influent de manière sensible sur le niveau d'endettement des sociétés. Les effets des décisions relatives au niveau d'endettement sur d'autres variables font également l'objet de tests dont les résultats confirment les prévisions énoncées dans les travaux théoriques précédents.