Managerial ownership, audit committees and non-audit services

被引：5

作者：

Shan, Yuan George ^{[1
]}

Troshani, Indrit ^{[2
]}

Loftus, Janice ^{[2
]}

机构：

[1] Univ Western Australia, UWA Business Sch, Dept Accounting & Finance, 35 Stirling Highway, Crawley, WA 6009, Australia

[2] Univ Adelaide, Adelaide Business Sch, Adelaide, SA, Australia

来源：

AUSTRALIAN JOURNAL OF MANAGEMENT | 2021年 / 46卷 / 03期

关键词：

Agency theory; audit committees; corporate governance; managerial ownership; non-audit service fees; CORPORATE GOVERNANCE MECHANISMS; FREE CASH FLOW; AGENCY COSTS; MANAGEMENT OWNERSHIP; INTERNAL CONTROL; FEES; INDEPENDENCE; FIRM; IMPACT; DETERMINANTS;

D O I：

10.1177/0312896220945763

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We extend prior research on corporate governance and non-audit services (NAS) by distinguishing between the management entrenchment region of management ownership and regions in which the interests of management and shareholders converge. Management entrenchment and convergence-of-interests regions were estimated for our sample of 5198 Australian firm-years. NAS is negatively (positively) associated with management ownership in the convergence-of-interests (entrenchment) regions. However, using a sub-sample based on firms that have audit committees, we find the association between NAS and management ownership is confined to the entrenchment region, while audit committee strength is negatively associated with NAS fees across all management ownership regions. JEL Classification: M42, M48

引用

页码：409 / 436

页数：28

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