Board and monitoring committee independence

Abacus

Volumn 39, Issue 2, 2003, Pages 211-232

  Cotter, Julie ^a   Silvester, Mark ^a  

^a UNIVERSITY OF SOUTHERN QUEENSLAND   (Australia)

Author keywords

Agency costs; Audit; Boards of directors; Committees; Compensation; Corporate governance

Indexed keywords

EID: 36949001659     PISSN: 00013072     EISSN: 14676281     Source Type: Journal    
DOI: 10.1111/1467-6281.00127     Document Type: Article

References (48)

1. Anderson, D., J. R. Francis and D. J. Stokes, ‘Auditing Directorships and the Demand for Monitoring’. Journal of Accounting and Public Policy, 1993.
2. Barth, M. E., and G. Clinch, ‘Scale Effects in Capital Markets-Based Accounting Research’, working paper, Stanford University and University of New South Wales, 1999.
3. Barth, M. E., and S. Kallapur, ‘The Effects of Cross-Sectional Scale Differences on Regression Results in Empirical Accounting Research’, Contemporary Accounting Research, Fall 1996.
4. Bathala, C. T., and R. P. Rao, ‘The Determinants of Board Composition: An Agency Theory Perspective’, Managerial and Decision Economics, Vol. 16No. 1, 1995.
5. Baysinger, B. D., and H. N. Butler, ‘Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition’, Journal of Law, Economics, and Organization, Vol. 1, 1985.
6. Bilimoria, D., and S. K. Piderit, ‘Board Committee Membership: Effects of Sex-Based Bias’, Academy of Management Journal, Vol. 37, No. 6, 1994.
7. Bosch, H., The Director at Risk: Accountability in the Boardroom, Pitman Publishing, 1995.
8. Bradbury, M. E., ‘The Incentives for Voluntary Audit Committee Formation’, Journal of Accounting and Public Policy, Vol. 9, 1990.
9. Daily, C. M., ‘Bankruptcy in Strategic Studies: Past and Promise’, Journal of Management, Vol. 20, No. 2, 1994.
10. Daily, C. M., ‘Governance Patterns in Bankruptcy Reorganizations’, Strategic Management Journal, Vol. 17, No. 5, 1996.
11. Dalton, D. R., C. M. Daily, A. E. Ellstrand and J. L. Johnson, ‘Meta-Analytic Reviews of Board Composition, Leadership Structure, and Financial Performance’, Strategic Management Journal, Vol. 19, No. 3, 1998.
12. Easterbrook, F., ‘Two Agency Cost Explanations of Dividends’, American Economic Review, Vol. 74, 1984.
13. Ellstrand, A. E., C. M. Daily and D. R. Dalton, ‘Governance by Committee: The Influence of Board of Directors’ Committee Composition on Corporate Performance’, Journal of Business Strategies, Vol. 16, No. 1, 1999.
14. Fama, E. F., ‘Agency Problem and the Theory of the Firm’, Journal of Political Economy, Vol. 33, 1980.
15. Fama, E. F., and M. C. Jensen, ‘Separation of Ownership and Control’, Journal of Law and Economics, Vol. 26, 1983.
16. Finkelstein, S., and D. C. Hambrick, Strategic Leadership: Top Executives and their Effects on Organizations, West, 1995.
17. Gales, L. M., and I. F. Kesner, ‘An Analysis of Board of Director Size and Composition in Bankrupt Organizations’, Journal of Business Research, Vol. 30, No. 3, 1994.
18. Grossman, S. J., and O. Hart, ‘Corporate Financial Structure and Managerial Incentives’, in J. J. MaCall (ed.), The Economics of Information and Uncertainty, University of Chicago Press, 1982.
19. Hair, J. F., R. E. Anderson, R. L. Tatham and W. C. Black, Multivariate Data Analysis, 5th ed., Prentice-Hall, 1998.
20. Harris, M., and A. Raviv, ‘The Theory of Capital Structure’, Journal of Finance, Vol. 46, 1991.
21. Harrison, J. R., ‘The Strategic Use of Corporate Board Committees’, California Management Review, Vol. 30, No. 1, 1987.
22. Hermalin, B. E., and M. S. Weisbach, ‘The Determinants of Board Composition’, RAND Journal of Economics, Vol. 19, No. 4, 1988.
23. Jensen, M. C., ‘Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers’, American Economic Review, May 1986.
24. Jensen, M. C., ‘The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems’, Journal of Finance, Vol. 48, 1993.
25. Jensen, M. C., and W. H. Meckling, ‘Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure’, Journal of Financial Economics, Vol. 3, 1976.
26. Kesner, I. F., ‘Directors’ Characteristics and Committee Membership: An Investigation of Type, Occupation, Tenure, and Gender’, Academy of Management Journal, Vol. 31, No. 1, 1988.
27. Klein, A., ‘Firm Performance and Board Committee Structure’, Journal of Law and Economics, Vol. 16, No. 1, 1998.
28. Klein, A., ‘Economic Determinants of Audit Committee Independence’, The Accounting Review, Vol. 77, No. 2, 2002.
29. Lardaro, L., Applied Econometrics, HarperCollins, 1993.
30. McConnell, J. J., and H. Servaes, ‘Additional Evidence on Equity Ownership and Corporate Value’, Journal of Financial Economics, Vol. 27, 1990.
31. Menon, K., and J. D. Williams, ‘The Use of Audit Committees for Monitoring’, Journal of Accounting and Public Policy, Vol. 13No. 2, 1994.
32. Morck, R., A. Shleifer and R. W. Vishny, ‘Management Ownership and Market Valuation: An Empirical Analysis’, Journal of Financial Economics, Vol. 20, 1988.
33. Ohlson, J., ‘Earnings, Book Values and Dividends in Security Valuation’, Contemporary Accounting Research, 1995.
34. O'Malley, S. F., ‘Improving Audit Committee Performance’, Corporate Board, Vol. 15, 1994.
35. Pearce, J. A., and S. A. Zahra, ‘Board Composition From a Strategic Contingency Perspective’, Journal of Management Studies, Vol. 29No. 4, 1992.
36. Pease, G., and K. McMillan, The Independent Non-Executive Director, Longman Professional Publishing, 1993.
37. Pincus, K., M. Rusbarsky and J. Wong, ‘Voluntary Formation of Corporate Audit Committees Among NASDAQ Firms’, Journal of Accounting and Public Policy, Vol. 8, No. 4, 1989.
38. Rozeff, M. S., ‘Growth, Beta and Agency Costs as Determinants of Dividend Payout Ratios’, Journal of Financial Research, Vol. 5, 1982.
39. Scarbrough, D. P., D. V. Rama and K. Raghunandan, ‘Audit Committee Composition and Interaction with Internal Auditing: Canadian Evidence’, Accounting Horizons, Vol. 12No. 1, 1998.
40. Shleifer, A., and R. W. Vishny, ‘Large Shareholders and Corporate Control’, Journal of Political Economy, Vol. 95, 1986.
41. Shleifer, A., and R. W. Vishny, ‘A Survey of Corporate Governance’, Journal of Finance, Vol. 52, No. 2, 1997.
42. Stapledon, G. P., and J. Lawrence, ‘Board Composition, Structure and Independence in Australia's Largest Listed Companies’, Melbourne University Law Review, Vol. 21, No. 1, 1997.
43. Vafeas, N., ‘The Nature of Board Nominating Committees and their Role in Corporate Governance’, Journal of Business Finance and Accounting, Vol. 26, No. 1, 1999.
44. Vance, S. C., Corporate Leadership, Boards, Directors and Strategy, McGraw-Hill, 1983.
45. Verschoor, C. C., ‘Benchmarking the Audit Committee’, Journal of Accountancy, Vol. 176, No. 3, 1993.
46. Weisbach, M. S., ‘Outside Directors and CEO Turnover’, Journal of Financial Economics, Vol. 20, 1988.
47. White, H., ‘A Heteroskedasticy-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticy’, Econometrica, May, 1980.
48. Zahra, S. A., and J. A. Pearce II, ‘Board of Directors and Corporate Financial Performance: A Review and Integrative Model’, Journal of Management, Vol. 15, No. 2, 1989.