Protectionism through legislative layering: Implications for auditors and investors

نویسندگان

چکیده

Abstract Protectionism is on the rise. Although it tends to be associated with tariffs imports, governments are increasingly applying other mechanisms influence international business. Import substitution initiatives have been used replace purchases from foreign producers local alternatives. Russia implemented import through legislative layering where layers of regulation created requirements targeting different industries and companies. Following sanctions imposed in 2014 Russia, government responded additional efforts. We interested effects such measures Big 4, global professional service firms, choice auditors by partially privatized enterprises (PPEs). PPEs more complex multilevel agency problems because less clear who charge. find that companies state ownership were likely switch away this was pronounced for strategic industries. It also contributed switching 4 next tier audit firms. After 2015, receive a modified opinion IFRS audits. However, auditor changes did not occur at cross-listed under enhanced monitoring investors stock exchanges.

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ژورنال

عنوان ژورنال: Journal of international business policy

سال: 2021

ISSN: ['2522-0691', '2522-0705']

DOI: https://doi.org/10.1057/s42214-021-00114-9