Many factors influence why companies require routine auditor ratifications. In this study, we seek to examine factors that increase or decrease the likelihood of shareholders’ involvement in the ratification of the independent auditor's appointment for foreign cross‐listed companies in the United States. Foreign cross‐listed companies provide a unique opportunity to observe how country‐specific factors impact the auditor ratification vote decision and outcome. Our analysis shows that bank financing, the location of the cross‐listed firm's independent auditor (U.S.‐based vs. non‐U.S.‐based audit office), and non‐audit fee ratio as having the highest marginal effects on the probability of companies requiring their shareholders to ratify the auditor's appointment. We also examine how these factors influence the outcome of the vote. We find that several engagement and country‐specific factors also influence the outcome of the vote.

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公司为什么要寻求股东批准独立审计职能？在美国的外国交叉上市公司

许多因素影响着公司为什么要求常规的审核员批准。在本研究中，我们试图研究一些因素，这些因素增加或减少了股东参与批准美国外国交叉上市公司的独立审计师的任命的可能性。外国交叉上市公司提供了一个独特的机会，以观察特定国家/地区的因素如何影响审计师批准表决的决定和结果。我们的分析表明，银行融资，交叉上市公司的独立审计师的所在地（美国与非美国的审计机构）以及非审计费用比率对公司要求破产的可能性具有最高的边际影响。其股东批准审计师的任命。我们还将研究这些因素如何影响投票结果。