Audit Committee and Firm Value: Evidence on Outside Top Executives as Expert‐Independent Directors

Chan, Kam C.; Li, Joanne

doi:10.1111/j.1467-8683.2008.00662.x

Cited by 210 publications

(198 citation statements)

References 25 publications

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“…In UK, as in other countries, audit committees are responsible for monitoring the integrity of the financial statements of the company and for the oversight of the company's systems of internal control and risk management (FRC 2010). Consistent with the expectations, research finds that appropriately staffed audit committees (in terms of having independent non-executives and especially financial experts sitting on them) perform a better oversight function and help enhance firm value (Chan and Li 2008). Recently, Khan et al (2013) find the presence of an audit committee to have a positive impact on CSR disclosures.…”

Section: Women On Board There Is a Growing Societal As Well As Regulsupporting

confidence: 56%

Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance

Qiu²,

2015

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In this paper we draw on insights from theories in the management and corporate governance literature to develop a theoretical model that makes explicit the links between a firm's corporate social responsibility (CSR) related board attributes, its board CSR strategy, and its environmental and social performance. We then test the model using structural equation modeling approach.We find that the greater the CSR orientation of the board (as measured by the board's independence, gender diversity, and financial expertise on audit committee), the more proactive and comprehensive the firm's CSR strategy, and the higher its environmental and social performance. Moreover, we find this link to be endogenous and self-reinforcing, with superior CSR performers tending to further strengthen their board CSR orientation.This result while positive is also suggestive of the widening of the gap between the leads and laggards in CSR.Therefore the question arises as to how 'leaders' are using their superior CSR competencies seen by many scholars as a source of corporate (at times unfair) competitive advantage. Stakeholders of corporations therefore need to be cognizant of this aspect of CSR when evaluating a firm's CSR activities. Policy makers also need to be cognizant of these concerns when designing regulation in this field.

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Section: Women On Board There Is a Growing Societal As Well As Regulsupporting

confidence: 56%

Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance

Qiu²,

2015

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“…Various studies have been conducted in different sectors and geographic location across the globe such as Choi et al (2006), Chan and li (2008), Nazir et al (2009), Dunstan et al (2011), Rouf (2011), Vintila and Gherghina A. Khan et al / Accounting 3 (2017 123 (2013) found that there was a positive and significant relationships between board independent director and firm value. The presence of non-executive directors on board gives a positive signal to the investors and shareholders in particular and stakeholders in general that affairs of the firms are prudently monitored which also increase public confidence and subsequently add to firm value (Hassan & Butt, 2009).…”

Section: Board Independencementioning

confidence: 99%

An empirical analysis of corporate governance and firm value: Evidence from KSE-100 Index

Khan¹,

Tanveer²,

Malik³

2017

10.5267/j.ac

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This paper investigates the impact of corporate governance on firm value measured by Tobin's Q. Different corporate governance proxies i.e. board size, board independence, audit committee and CEO duality are interacted with firm value. A sample of 91 nonfinancial firms listed on KSE was selected over the period 2010-2014. The findings of the study show that board size and CEO duality had negative impacts on firm value. Moreover, board size, non-executive directors and audit committee had positive and significant impacts on firm value.Growing Science Ltd. All rights reserved. 7

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“…Audit committee independence has been associated with firm value (Chan and Li, 2008) and lower debt financing costs (Anderson, Mansi, and Reeb, 2004). We therefore control for the proportion of independent non-executive directors on the audit committee.…”

Section: Control Variablesmentioning

confidence: 99%

The Effect of Board Directors from Countries with Different Genetic Diversity Levels on Corporate Performance

et al. 2017

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We link genetic diversity in the country of origin of the firms' board members with corporate performance via board members' nationality. We hypothesize that our approach captures deep-rooted differences in cultural, institutional, social, psychological, physiological, and other traits that cannot be captured by other recently measured indices of diversity. Using a panel of firms listed in the North American and U.K. stock markets, we find that adding board directors from countries with different levels of genetic diversity (either higher or lower) increases firm performance. This effect prevails when we control for a number of cultural, institutional, firm-level, and board member characteristics, as well as for the nationality of the board of directors. To identify the relationship, we use as instrumental variables for our diversity indices the migratory distance from East Africa and the level of ultraviolet exposure in the directors' country of nationality.

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Audit Committee and Firm Value: Evidence on Outside Top Executives as Expert‐Independent Directors

Cited by 210 publications

References 25 publications

Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance

Board Attributes, Corporate Social Responsibility Strategy, and Corporate Environmental and Social Performance

An empirical analysis of corporate governance and firm value: Evidence from KSE-100 Index

The Effect of Board Directors from Countries with Different Genetic Diversity Levels on Corporate Performance

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