Financial accounting information, organizational complexity and corporate governance systems

被引：493

作者：

Bushman, R

Chen, Q

Engel, E ^{[1
]}

Smith, A

机构：

[1] Univ Chicago, Grad Sch Business, Chicago, IL 60637 USA

[2] Univ N Carolina, Kenan Flager Business Sch, Chapel Hill, NC 27599 USA

[3] Duke Univ, Fuqua Sch Business, Durham, NC 27708 USA

来源：

JOURNAL OF ACCOUNTING & ECONOMICS | 2004年 / 37卷 / 02期

关键词：

corporate governance; corporate transparency; earnings timeliness; organizational complexity; diversification;

D O I：

10.1016/j.jacceco.2003.09.005

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We posit that limited transparency of firms' operations to outside investors increases demands on governance systems to alleviate moral hazard problems. We investigate how ownership concentration, directors' and executive's incentives, and board structure vary with: (1) earnings timeliness, and (2) organizational complexity measured as geographic and/or product line diversification. We find that ownership concentration, directors' and executives' equity-based incentives, and outside directors' reputations vary inversely with earnings timeliness, and that ownershi concentration, and directors' equity-based incentives increase with firm complexity. However, board size and the percentage of inside directors do not vary significantly with earnings timeliness or firm complexity. (C) 2003 Elsevier B.V. All rights reserved.

引用

页码：167 / 201

页数：35

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