On the demand for independent and active audit committees

Journal of Corporate Finance

Volumn 6, Issue 4, 2000, Pages 427-445

  Deli, Daniel N ^a,b   Gillan, Stuart L ^c  

^a United States Securities and Exchange Commission   (United States)

^b UNIVERSITY OF DELAWARE   (United States)

^c Teachers Insurance and Annuity Association College Retirement Equities Fund   (United States)

Author keywords

Accounting certification; Audit committee; G34; L14; M41; Outside directors

Indexed keywords

EID: 0041411712     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0929-1199(00)00016-x     Document Type: Article

References (33)

1. Alchian A.A. Uncertainty, evolution, and economic theory. Journal of Political Economy. 58:1950;211-221.
2. Principles of Corporate Governance: Analysis and Recommendations. 1994;The American Law Institute Publishers, St. Paul, MN.
3. Anderson D., Francis J.R., Stokes D.J. Auditing, directorships and the demand for Monitoring. Journal of Accounting and Public Policy. 12:1993;353-375.
4. Booth, J.R., Cornett, M., Tehranian, H., 1998. Boards of Directors, Ownership Structure and Regulation, Working paper, Arizona State University.
5. Bradbury M.E. The incentives for voluntary audit committee formation. Journal of Accounting and Public Policy. 9:1990;19-36.
6. Audit Committees: A Research Study. 1981;The Canadian Institute of Chartered Accountants, Canada.
7. Coase R.H. The Nature of the Firm. Economica. 55:1937;386-405.
8. Eichenseher J.W., Shields D. Corporate director liability and monitoring preferences. Journal of Accounting and Public Policy. 4:1985;13-31.
9. Fama E.F., Jensen M.C. Agency problems and residual claims. Journal of Law and Economics. 26:1983;327-349.
10. Fama E.F., Jensen M.C. Separation of ownership and control. Journal of Law and Economics. 26:1983;301-325.
11. Francis J.R., Wilson E.R. Audit changes: a joint test of theories relating to agency costs and auditor differentiation. The Accounting Review. 4:1988;663-682.
12. Gaver J.J., Gaver K.M. Additional evidence on the association between investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Accounting and Economics. 16:1993;125-160.
13. Healy P.M., Kang S.-H., Palepu K.G. The effect of accounting procedure changes on CEOs' cash salary and bonus compensation. Journal of Accounting and Economics. 9:1987;7-34.
14. Jensen M.C., Meckling W.H. Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics. 3:1976;305-360.
15. Klein A. Firm performance and board committee structure. Journal of Law and Economics. 41:1998;275-303.
16. Leftwich R. Accounting information in private markets: evidence from private lending agreements. The Accounting Review. 58:1983;23-42.
17. Menon K., Williams J.D. The use of audit committees for monitoring. Journal of Accounting and Public Policy. 13:1994;121-139.
18. Morck R., Shleifer A., Vishny R.W. Management ownership and market valuation. Journal of Financial Economics. 20:1988;293-315.
19. Corporate Directorship Practices: Studies in Business Policy, No. 103. 1962;National Industrial Conference Board, New York, NY.
20. Corporate Directorship Practices, Studies in Business Policy, No. 105. 1967;National Industrial Conference Board, New York, NY.
21. Report and Recommendations of the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees. 1999.
22. Pincus K., Rusbarsky M., Wong J. Voluntary formation of corporate audit committees among NASDAQ firms. Journal of Accounting and Public Policy. 8:1989;239-265.
23. Sethi S.P. Corporate Governance: Composition and Committee Structure of Corporate Boards, Volume I. 1980;Center for Research in Business and Social Policy, The University of Texas at Dallas.
24. Skinner D.J. The investment opportunity set and accounting procedure choice. Journal of Accounting and Economics. 16:1993;407-445.
25. Smith C.W. Jr., Warner J.B. On financial contracting: an analysis of bond covenants. Journal of Financial Economics. 7:1979;117-161.
26. Smith C.W. Jr., Watts R.L. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Financial Economics. 32:1992;263-292.
27. Titman S., Trueman B. Information quality and the valuation of new issues. Journal of Accounting and Economics. 8:1986;159-172.
28. Treadway Commission, 1987, Report of the National Commission on Fraudulent Financial Reporting.
29. Vafeas N. Board meeting frequency and firm performance. Journal of Financial Economics. 53:1999;113-142.
30. Watts R.L., Zimmerman J.L. Positive Accounting Theory. 1986;Prentice Hall, Englewood Cliffs, NJ.
31. Watts R.L., Zimmerman J.L. Positive accounting theory: a ten year perspective. The Accounting Review. 65:1990;131-156.
32. Wild J.J. The audit committee and earnings quality. Journal of Accounting, Auditing and Finance. 9:1994;247-276.
33. Wruck K.H. Equity ownership concentration and firm value: Evidence from private equity financings. Journal of Financial Economics. 23:1989;3-28.