外资所有权是否影响审计委员会采用巴西公司的证据

Q4 Economics, Econometrics and Finance
Lucas Felice Cervo, Clea Beatriz Macagnan, Daniel Francisco Vancin, Cristiano Machado Costa
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引用次数: 0

摘要

本文的目的是验证巴西股市上市公司审计委员会的自愿组成是否可以用外国股东的存在来解释。采用的方法是带有工具变量的probit模型,结果证实了假设,表明存在u型关系:在外国参与水平较低时,采用审计委员会的概率略有下降,达到截止水平后,采用审计委员会的概率增加。这一结果与先前关于外国投资者在改善发展中国家公司的公司治理以保护自己免受当地股东和经理征用方面的作用的文献一致。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Does foreign ownership affect audit committee adoption Evidence from Brazilian companies
The aim of this paper is to verify whether the voluntary constitution of the audit committee in companies listed in the Brazilian stock market could be explained by the presence of foreign stockholders. The method used was a probit model with instrumental variables, and the results confirmed the hypothesis, indicating that there is an U-shaped relationship: the probability of adoption of the audit committee slightly decreases at low levels of foreign participation and increases after reaching a cutoff level. This result is in line with previous literature on the role of foreign investors in improving corporate governance in companies in developing countries to protect themselves from expropriation by local stockholders and managers.
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来源期刊
CiteScore
0.70
自引率
0.00%
发文量
7
期刊介绍: IJAAPE publishes original scholarly papers across the whole spectrum of: financial accounting, managerial accounting, accounting education, auditing, taxation, public sector accounting, capital market and accounting, accounting information systems, performance evaluation, corporate governance, ethics, and financial management. All methodologies, such as analytical, empirical, behavioural, surveys, and case studies are welcome. IJAAPE encourages contributions especially from emerging markets and economies in transition and studies whose results are applicable across nation states or capable of being adapted to the different accounting and business environments.
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