scholarly journals Ownership structure and women on boards of directors of Canadian listed companies

2021 ◽  
Vol 18 (3) ◽  
pp. 120-135
Author(s):  
Tania Morris ◽  
Amos Sodjahin ◽  
Hamadou Boubacar
Keyword(s):  
Board Of Directors ◽  
Ownership Structure ◽  
Boards Of Directors ◽  
Audit Committee ◽  
Gender Diversity ◽  
Listed Companies ◽  
Audit Committees ◽  
Curvilinear Relationship ◽  
Shareholder Structure ◽  
Women On Boards

This study examines how the structure of shareholder ownership (i.e., management, external blockholders, and board ownership) affects the presence of women on boards of directors. The results of an analysis of a sample of listed Canadian companies for the period 2007-2015, controlling for endogeneity, indicate that the proportion of women sitting on a firm’s board of directors is influenced by its shareholding structure, thus, supporting the view that the two governance mechanisms of gender diversity and shareholder structure can substitute for each other. The results also show that there is a curvilinear relationship between a company’s ownership structure and the proportion of women on its board of directors and audit committee. Indeed, findings show that as the concentration of company ownership increases, the proportion of women on boards of directors decreases to a threshold, following which we observe an increase in the proportion of women sitting on boards of directors and particularly on audit committees

scholarly journals Gender Diversity of Audit Committees and Audit Fees: Evidence from Chinese Listed Companies

2015 ◽  
Vol 7 (2) ◽  
pp. 239 ◽  
Author(s):  
Rui Xiang ◽  
Meng Qin ◽  
Craig A Peterson
Keyword(s):  
Audit Committee ◽  
Gender Diversity ◽  
Audit Fees ◽  
Listed Companies ◽  
Audit Committees ◽  
Men And Women ◽  
Public Company ◽  
Chinese Listed Companies ◽  
State Enterprises ◽  
The Relationship

<p>This paper investigates whether women, who serve on the audit committee of the board, can have a significant impact in reducing audit fees paid by China's A-share listed companies during the period 2004 to 2007. We show that audit committees composed of both men and women pay significantly smaller audit fees. The relationship is significantly greater in non-state enterprises than that exhibited by state-owned enterprises and significantly greater in companies deemed to have weak management vis-à-vis strong management. Further analysis shows that the composition of the committee is irrelevant when management is strong, regardless of whether it provides guidance for a state-owned enterprise or a strictly public company. When management is deemed weak, however, gender diversity is associated with smaller fees.</p>

scholarly journals Board Gender Diversity, Network and Firms’ Performance in the Italian Listed Companies

2016 ◽  
Vol 11 (10) ◽  
pp. 332 ◽  
Author(s):  
Francesca Di Donato ◽  
Delio Panaro ◽  
Sara Trucco
Keyword(s):  
Board Of Directors ◽  
Boards Of Directors ◽  
Gender Diversity ◽  
Listed Companies ◽  
Quantitative Information ◽  
Network Ties ◽  
Text Documents ◽  
Gender Minority ◽  
The Board Of Directors ◽  
Board Gender Diversity

The paper aims at analysing the effect of women serving on the boards of directors, especially after the introduction of gender minority (Law 120/2011 and Consob n. 18098/2012),<em> </em>and the network ties on boardrooms on the overall firms’ performance in the Italian context. Gender minority is defined as the percentage of women on the board of directors, whereas the network ties represent companies which are connected through shared board members. To do this, we selected a sample of industrial Italian listed companies during the period 2011-2013 and we downloaded the mandatory reports of corporate governance of each firm in our sample time period in order to extract the components of the board of directors and their characteristics. We performed a set of regression analysis to evaluate whether the participation of women in the firm’s board of directors and the presence of connections among boardrooms enhance the financial performance measured through Tobin’s Q and Return On Asset (ROA). Empirical results contribute to extend scientific literature about this topic and to provide interesting practical contributions on the role of gender minority and the connections among companies on firms’ performance. Parallel, this research develops topics related to text mining (that is the automatic extraction of quantitative information from text-documents) referring to all the firms’ disclosures, produced in the Italian language.

Corporate governance: association the spots between institutional enhancement, organisational modification and earnings quality

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Adel Almasarwah ◽  
Wasfi Alrawabdeh ◽  
Walid Masadeh ◽  
Munther Al-Nimer
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Audit Committee ◽  
Positive Relationship ◽  
Robust Regression ◽  
Earnings Quality ◽  
Audit Committees ◽  
Content Type

Purpose The purpose of this paper is to explore the link between earnings quality, Audit Committees and the Board of companies located in Jordan through the lens of enhancing corporate governance. Design/methodology/approach The real earnings management (REM) and accruals earnings management models were notably used within the panel data robust regression analysis approach; these were used against certain Audit Committee characteristics (i.e. meeting frequency, amount of Board and Committee participants [both internal and external], size) and Board of Directors. Findings The former characteristics were found to have a positive relationship with REM, while the latter yielded mixed results: while there was no significant identifiable relationship between Board outsiders and REM, there was a positive relationship identified between Board meetings, Board insiders and Board size and REM. In regard to this study’s limitations, the qualitative data gathered for the Board of Directors through the lens of corporate governance enhancement should have been documented with more detail; furthermore, the study was limited to the study of just one nation. Research limitations/implications The data is limited to only a single country. More explanation for Board of Directors need qualitative understandings into corporate governance improvement. The control variables are essentially partial in a developing market context. Practical implications The different corporate governance code and guidelines improvements have varied influence on earnings quality. As predictable, boards of directors most effect on earnings quality. Improvements have included most modification to audit committees but through them slight measured effect on earnings quality. Social implications Jordan’s corporate governance improvements expected organised corporate governance practices generally in place amongst its boards, and though invoking considerable modification to audit committees, eventually included slight modification to earnings quality. However, both improved earnings quality. Originality/value This particular research appears to be the first to consider both Audit Committee and Board of Directors characteristics in one model; indeed, in this vein, this research is also the first to explore the corporate governance enhancements that initially stemmed from there being zero code or guideline regarding its use, despite it becoming required recently. Hence, the authors can say this study has high originality.

scholarly journals Implementing the board of directors’ mechanism – An empirical study of the listed firms in Libya

2018 ◽  
Vol 14 (1) ◽  
pp. 22-33 ◽  
Author(s):  
Jill Atkins ◽  
Mohamed Zakari ◽  
Ismail Elshahoubi
Keyword(s):  
Corporate Governance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Listed Companies ◽  
Board Members ◽  
Corporate Boards ◽  
Listed Firms ◽  
Stakeholder Groups ◽  
The Board Of Directors ◽  
Executive Managers

This paper aims to investigate the extent to which board of directors’ mechanism is implemented in Libyan listed companies. This includes a consideration of composition, duties and responsibilities of the board directors. This study employed a questionnaire survey to collect required data from four key stakeholder groups: Boards of Directors (BD), Executive Managers (EM), Regulators and External Auditors (RE) and Other Stakeholders (OS). The results of this study provided evidence that Libyan listed companies generally comply with the Libyan Corporate Governance Code (LCGC) requirements regarding the board composition: the findings assert that most boards have between three and eleven members, the majority of whom are non-executives and at least two or one-third of whom (whichever is greater) are independent. Moreover, the results indicate that general assemblies in Libyan listed companies are practically committed to the LCGC’s requirements regarding the appointment of board members and their length of tenure. The findings provide evidence that boards in Libyan listed companies are carrying out their duties and responsibilities in accordance with internal regulations and laws, as well as the stipulations of the LCGC (2007). Furthermore, the stakeholder groups were broadly satisfied that board members are devoting sufficient time and effort to discharge these duties and responsibilities properly. This study helps to enrich our understanding and knowledge of the current practice of corporate boards as a significant mechanism of corporate governance (CG) by being the first to address the board of directors’ mechanism in Libyan listed companies.

Audit committee effectiveness and financial reporting timeliness

2018 ◽  
Vol 9 (1) ◽  
pp. 34-55 ◽  
Author(s):  
Ahmed Atef Oussii ◽  
Neila Boulila Taktak
Keyword(s):  
Financial Reporting ◽  
Audit Committee ◽  
Emerging Market ◽  
Listed Companies ◽  
Audit Committees ◽  
Future Research ◽  
Governance System ◽  
Content Type ◽  
Financial Expertise ◽  
The Impact

Purpose The purpose of this paper is to investigate whether there is any relationship between the effectiveness of an audit committee and the financial reporting timeliness of Tunisian listed companies as proxied by external audit delay (AD). Analysis focuses on five audit committee characteristics: authority, financial expertise, independence, size and diligence. Design/methodology/approach Empirical tests address 162 firm-year observations drawn from Tunisian listed companies during 2011-2013. Findings Multivariate analyses indicate that audit committees with members who have financial expertise are significantly associated with shorter AD. Thus, the results suggest that audit committee financial expertise contributes to the improvement of financial statements’ timeliness. Research limitations/implications The audit committee attributes examined in this study were based on DeZoort et al. (2002) framework. There could be other aspects of audit committee effectiveness such as audit committee tenure and audit committee chair characteristics, which were not addressed in the present study. Thus, future research may consider and examine these other components of audit committee effectiveness. Practical implications Findings have managerial implications. Companies can re-look into how to further improve audit committee composition in order to enhance the timeliness of financial reporting. The issues of audit committee effectiveness and timely reporting also affect regulators and policy makers since they need to play a role in the establishment of effective audit committees and the improvement of financial reporting timeliness. Originality/value This study is one of few that have examined the impact of audit committee effectiveness on ADs in an emerging market country. Findings lend credence to the belief that audit committee members’ financial expertise enhances the quality of financial reporting by firms in a North African market criticized for the lack of maturity of its corporate governance system (Klibi, 2015; Fitch Ratings, 2009).

Gender diversity on audit committees and its impact on audit fees: evidence from India

2019 ◽  
Vol 32 (4) ◽  
pp. 568-586 ◽  
Author(s):  
Seema Miglani ◽  
Kamran Ahmed
Keyword(s):  
Audit Committee ◽  
Audit Quality ◽  
Gender Diversity ◽  
Audit Fees ◽  
Ordinary Least Squares ◽  
Audit Committees ◽  
Women Directors ◽  
Least Squares Regression ◽  
Content Type ◽  
Financial Expert

Purpose The purpose of this study is to examine the relationship existing between gender diverse (women directors) audit committees and audit fees. Design/methodology/approach The authors use a sample of 200 listed Indian firms over a four-year period (2011-2014). Ordinary least squares regression is used to assess whether and how the presence of women directors on audit committees affects the fee paid to the external auditor in India. To deal with the self-selection bias, the authors use a two-stage model developed using Heckman’s (1976) method. Findings The results show a significant positive relationship between the presence of a woman financial expert on the audit committee and audit fees after controlling for a number of firm-specific and governance characteristics and potential endogeneity with the propensity-matching score analysis. From the demand-side perspective of audit pricing, the results indicate that women financial experts on audit committees increase the need for assurance provided by external auditors. Using interaction terms, the authors find that women with financial expertise on an audit committee have a stronger association with audit fees as entity becomes more complex. Research limitations/implications The findings suggest that audit committees with women financial experts are likely to demand higher audit quality, ceteris paribus. Practical implications Gender of the financial expert is critical to the audit committee’s effectiveness. The findings of this study have implications for the composition of an audit committee in a firm. Originality/value This study contributes to the extant literature by examining the less-researched topic of the association between the women representation on audit committees and audit fees. It also offers further empirical evidence that will influence the debate on the importance of gender diversity in corporations.

Auditor Communications with the Audit Committee and the Board of Directors: Policy Recommendations and Opportunities for Future Research

2007 ◽  
Vol 21 (2) ◽  
pp. 165-187 ◽  
Author(s):  
Jeffrey Cohen ◽  
Lisa Milici Gaynor ◽  
Ganesh Krishnamoorthy ◽  
Arnold M. Wright
Keyword(s):  
Financial Reporting ◽  
Boards Of Directors ◽  
Audit Committee ◽  
Academic Research ◽  
Reporting Quality ◽  
Academic Community ◽  
Communication Process ◽  
Audit Committees ◽  
Financial Reporting Quality ◽  
Future Research

To contribute to the Public Company Accounting Oversight Board (PCAOB) project on auditor communications with audit committees and boards of directors, we present in this paper a review of relevant academic literature. We also identify promising future research opportunities for the academic community. We specifically focus on how the communication process may affect overall financial reporting quality, internal controls, control environments, and external auditors' performance, as well as matters that potentially impact financial reporting and should interest the PCAOB (e.g., in the area of management discussion and analysis). We specifically link the findings from academic research to the discussion questions posed by the PCAOB in its 2004 briefing paper. Several potential implications of the findings should also interest standard-setters and regulators addressing issues related to corporate governance and financial reporting quality.

Women representation on boards: a South African perspective

2016 ◽  
Vol 24 (2) ◽  
pp. 211-225 ◽  
Author(s):  
Gizelle Willows ◽  
Megan van der Linde
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Board Of Directors ◽  
Boards Of Directors ◽  
Critical Mass ◽  
Gender Diversity ◽  
Current Status ◽  
Company Performance ◽  
Content Type ◽  
The Board Of Directors

Purpose By looking at both theoretical and empirical findings, this study aims to investigate whether gender diversity results in improved corporate governance and financial performance for companies. Design/methodology/approach An analysis of the board composition of the Johannesburg Securities Exchange Top 40 companies as at 30 June 2013 and a comparison of the financial performance of the company were conducted. Findings Female directors were found to make up, on average, 18.78 per cent of the board of directors, with the majority of these women being in non-executive positions. Women representation appears to influence company performance positively when using accounting-based measures of performance (such as return on assets and return on equity), but negatively when using market-based measures (such as Tobin’s Q). The critical mass concept is also assessed and is found to have a positive effect. Originality/value These findings are of relevance to the boards of directors adhering to corporate governance requirements by challenging the role of women on the board of directors, as well as that of investors and those in practice, to understand the current status of women representation.

Academic Research on Communications Among External Auditors, the Audit Committee, and the Board: Implications and Recommendations for Practice

2008 ◽  
Vol 2 (1) ◽  
pp. A1-A8 ◽  
Author(s):  
Jeffrey Cohen ◽  
Lisa Milici Gaynor ◽  
Ganesh Krishnamoorthy ◽  
Arnold M. Wright
Keyword(s):  
Financial Reporting ◽  
Boards Of Directors ◽  
Audit Committee ◽  
Academic Research ◽  
Reporting Quality ◽  
Audit Committees ◽  
Financial Reporting Quality ◽  
External Auditors ◽  
Research Findings ◽  
Recommendations For Practice

SUMMARY: This article provides a summary of the academic research findings on the attributes of effective audit committees and potential threats to financial reporting quality that should lead to heightened auditor and audit committee sensitivity. The practice implications of this research are then discussed in terms of appropriate communications among auditors, audit committees, and boards of directors.

scholarly journals The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council

2017 ◽  
Vol 9 (2) ◽  
pp. 190
Author(s):  
Mohammed Gubran Al-shamahi ◽  
Kamarul Bahrain Abdul Manaf ◽  
Ali Saleh Al-arussi
Keyword(s):  
Firm Size ◽  
Stock Markets ◽  
Boards Of Directors ◽  
Listed Companies ◽  
Foreign Ownership ◽  
Gulf Cooperation Council ◽  
Audit Committees ◽  
Corporate Boards ◽  
Political Risks ◽  
The Impact

This study empirically examines the impact of effectiveness of both corporate boards and audit committee on foreign ownership in selected non-financial listed companies of the stock markets in Gulf Cooperation Council (GCC) countries. Contrary to previous studies, this study enters the firm size, leverage, exchange rate risks, inflation risks and economic growth as control variables. For the first time, it also includes the political risks’ variable as a control variable that may affect foreign ownership. In term of panel data regression analysis, the study was built on fixed effect model and conducted to the period of 2012-2015 for 143 non-financial listed companies on the GCC stock markets. Our results explain that foreign ownership is positively related to the effectiveness of both the boards of directors and the audit committees. Political risks and firm size are positively significant with foreign ownership, while the leverage is negatively related to foreign ownership. The implication of this study may help beneficiaries in making better policy decisions and provide guidance for corporate managers on the needs of foreign investors.

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