审计委员会的繁忙程度会影响财务重述吗?来自审计委员会持股情况的证据

IF 3.1 3区 管理学 Q2 BUSINESS, FINANCE
Md. Borhan Uddin Bhuiyan, Solomon Opare, Zahir Ahmed
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引用次数: 0

摘要

我们研究了审计委员会(AC)的忙碌程度与财务重述之间的关系,并确定审计委员会的持股比例是否会调节这种关系。我们使用对数回归分析法,对澳大利亚证券交易所上市公司 2004 年至 2015 年的 6408 个公司年度观察样本进行了假设检验。研究结果显示,拥有繁忙 AC 的公司会进行更多的财务重述。我们还发现,AC 股权会减少财务重述,并削弱 AC 忙碌程度与财务重述之间的关联。我们的研究结果对企业有意决定向董事会成员授予股份所产生的内生性问题是稳健的。这项研究的结果具有若干重要的政策含义。例如,通过允许股东持股,股东可以从监事会成员的监督能力中获益。此外,我们的研究结果表明,基于原则的公司治理准则对财务报告质量具有有利影响。虽然之前的研究提供的证据参差不齐,但我们的研究通过提供证据证明 AC 股份所有权调节了 AC 忙碌程度与财务重述之间的关联,为审计文献做出了贡献。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Does Audit Committee Busyness Affect Financial Restatement? Evidence from Audit Committee Share Ownership

We examine the association between audit committee (AC) busyness and financial restatement and determine whether AC share ownership moderates this relationship. Using logit regression analysis, we test our hypotheses on a sample of 6408 firm-year observations from 2004 to 2015 for companies listed on the Australian Securities Exchange. The study reveals that firms with busy ACs engage more in financial restatements. We also find that AC share ownership reduces financial restatements and attenuates the association between AC busyness and financial restatement. Our results are robust to endogeneity concerns emanating from firms’ deliberate decisions to grant shares to AC members. The findings of this research have several important policy implications. For instance, shareholders can benefit from AC members’ monitoring ability by allowing for share ownership. Further, our findings suggest that principles-based corporate governance guidelines have a beneficial effect on financial reporting quality. While prior studies offer mixed evidence, our research contributes to the auditing literature by providing evidence that AC share ownership moderates the association between AC busyness and financial restatement.

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来源期刊
Australian Accounting Review
Australian Accounting Review BUSINESS, FINANCE-
CiteScore
6.30
自引率
17.60%
发文量
31
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