| 摘要: | The survival of any organization depends on its operational performance. Certified public accountants (hereafter CPA) provide the function of information attestation and management advisory services. In the capital market, CPA firms seem to be an invisible hand helping the development of economy. In particular, after Enron, the public was concerned about the role of CPA in the capital market. CPA firms of large and medium size, specifically, play the role aggressively. In general, human capital is the most critical factor affecting the performance of CPA firms. Hence, this paper investigates the effect of different attributes of labor input, capital input, and input from supporting department on the performance of CPA firms. The main findings are human capital, defined as the years of professional trainings of the employees, positively affects the growth of practicing revenue of CPA firms significantly. In addition, growth in labor input, defined by employee salary, is the significant explanatory variable as well. Instead, human capital, defined as the normal educational years of the employees, has no significant effect on the growth of practicing revenue of CPA firms. |
