Audit committee characteristics and firm performance during the global financial crisis

Aldamen, Husam, Duncan, Keith, Kelly, Simone, McNamara, Ray, and Nagel, Stephan (2012) Audit committee characteristics and firm performance during the global financial crisis. Accounting and Finance, 52 (4). pp. 971-1000.

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Abstract

We address the question 'do governance enhancing audit committee (AC) characteristics mitigate the firm performance impact of significant-adverse-economic events such as the Global Financial Crisis (GFC)?' Our analysis reveals that smaller audit committees with more experience and financial expertise are more likely to be associated with positive firm performance in the market. We also find that longer serving chairs of audit committees negatively impacts accounting performance. However, accounting performance is positively impacted where ACs include blockholder representation, the chair of the board, whose members have more external directorships and whose chair has more years of managerial experience. We contribute to the growing body of research on the impact of audit committee governance attributes on performance during times of financial distress.

Item ID: 36263
Item Type: Article (Research - C1)
ISSN: 1467-629X
Keywords: corporate governance; audit committee; firm performance; return on assets
Date Deposited: 20 Nov 2014 03:38
FoR Codes: 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1501 Accounting, Auditing and Accountability > 150102 Auditing and Accountability @ 60%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1503 Business and Management > 150303 Corporate Governance and Stakeholder Engagement @ 40%
SEO Codes: 90 COMMERCIAL SERVICES AND TOURISM > 9001 Financial Services > 900101 Finance Services @ 100%
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