机构投资者的力量:关于其在内部审计职能投资中作用的经验证据

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE
Adel Ali Al-Qadasi
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引用次数: 0

摘要

目的机构投资者是上市公司的主要股东,在这些公司的财务和治理方面发挥着至关重要的作用。尽管机构投资者非常重要,但人们对其在内部审计中的作用却知之甚少。本研究旨在通过调查机构投资者的所有权与内部审计职能(IAF)投资之间的关系来填补这一空白。本研究使用普通最小二乘法回归与双向聚类标准误差(公司和年份)来估计 2009 年至 2020 年期间马来西亚上市公司的机构投资者所有权与内部审计职能投资之间的关系。原创性/价值研究结果凸显了机构投资者作为内部投资框架投资重要决定因素的重要性,有助于监管者和管理者了解机构投资者在管理和优化公司资源有效利用方面的作用。研究结果还深入揭示了机构投资者在监督体系方面的行为,这可能会激励监管者和政策制定者考虑增加机构投资者的参与,以加强治理结构。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The power of institutional investors: empirical evidence on their role in investment in internal audit function

Purpose

Institutional investors are major shareholders in publicly traded firms and play crucial roles in the financial and governance aspects of these firms. Despite their importance, little is known about their role in internal auditing. This study aims to fill this gap by investigating the relationship between institutional investors’ ownership and investment in the internal audit function (IAF).

Design/methodology/approach

The study uses ordinary least squares regressions with two-way cluster-robust standard errors (firm and year) to estimate the relationship between institutional investors’ ownership and investment in IAF for Malaysian listed firms between 2009 and 2020.

Findings

The findings show that companies with higher levels of institutional ownership invest more in IAF, suggesting that institutional investors can effectively monitor managers due to their large holdings. Moreover, both transient and dedicated institutional investors are more likely to invest in IAF.

Originality/value

The results highlight the importance of institutional investors as a significant determinant of investment in IAF, which can aid regulators and managers in understanding the institutional investors’ role in governing and optimizing the efficient use of a firm’s resources. The findings also provide insight into institutional investors’ behavior regarding monitoring systems, which may inspire regulators and policymakers to consider increasing institutional investors’ participation to enhance governance structures.

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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
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