監査業務における炭素リスクの価格設定：市場集中度と地域の環境炭素曝露の役割
Pricing carbon risk in audit engagements: the role of market concentration and local environmental carbon exposure (原題)
Wiem Dridi, Saliha Theiri
🤖 gxceed AI 要約
日本語
フランスSBF120企業の2018-2024年データを用い、炭素排出量と監査報酬の関係を分析。炭素排出が多い企業ほど監査報酬が高く、監査市場の集中度と地域の環境炭素曝露がこの関係を強めることを実証。炭素リスクが監査リスクとして価格設定されることを示す。
English
Using French SBF120 firms from 2018-2024, this study finds that higher carbon emissions are associated with higher audit fees, with effects amplified in concentrated audit markets and regions with high environmental carbon exposure. Carbon risk is priced as audit risk, highlighting non-financial determinants of audit pricing.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示が始まり、監査報酬への影響が注目される。本研究成果は、日本の監査法人や企業が炭素リスクを監査プロセスに組み込む際の参考となる。
In the global GX context
Globally, as ISSB and CSRD mandates expand, auditors increasingly price climate risks. This French evidence informs global audit practice and regulation on integrating carbon risk into assurance.
👥 読者別の含意
🔬研究者:Provides empirical evidence on carbon risk pricing in audit fees, extending audit pricing literature with environmental factors.
🏢実務担当者:Audit firms and corporate finance teams can use findings to anticipate audit fee impacts from carbon exposure and market structure.
🏛政策担当者:Regulators overseeing audit markets may consider how market concentration and environmental context affect audit pricing and transparency.
📄 Abstract（原文）
Purpose This study examines the association between corporate carbon emissions and audit fees and investigates whether audit market concentration and local environmental exposure moderate this relationship. Design/methodology/approach Using a panel of French listed firms from the SBF 120 index Using a panel of French listed firms from the SBF 120 index over the period 2018–2024, carbon exposure is measured using total CO2 emissions and carbon intensity. Moderating effects are captured through interactions with audit market concentration and local environmental carbon exposure. The analysis relies on robust OLS regressions and is complemented by several robustness tests, including alternative emission measures, feasible generalized least squares (FGLS) and system GMM estimation to address potential endogeneity concerns. Findings The results demonstrate that firms with higher carbon emissions incur higher audit fees, suggesting that carbon exposure is systematically priced as an audit risk. This effect is particularly pronounced in more concentrated audit markets, indicating that auditors operating in such environments incorporate carbon-related complexity and reputational concerns more strongly into their pricing decisions. Furthermore, local environmental carbon exposure strengthens the positive association between firm-level emissions and audit fees, highlighting the importance of the broader environmental context in shaping auditors' risk assessments. Originality/value This study contributes to the audit pricing literature by documenting that carbon emissions constitute a material non-financial determinant of audit fees in a French code-law setting. By jointly examining audit market concentration and regional environmental carbon exposure, it provides new evidence on how audit market structure and environmental context shape auditors' pricing of carbon-related risks.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1108/emjb-02-2026-0083first seen 2026-08-26 04:43:57
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