Export oriented firms in financial crisis: An analysis of agency service fee

In this paper we investigate the impact of incremental risk caused by 2008 financial crisis upon the service fee charged by agents. Using public statistic data, we find that operational risk of export oriented firm increases as a result of the financial crisis and audit fee is therefore charged more by auditors. However, for non-export oriented firms there isn't significant increase. The incremental audit fee for export oriented firm is termed risk premium of agency service under the financial crisis.