Board Gender Diversity, Auditor Fees, and Auditor Choice

• 成果类型: Article
• 署名作者: Lai, Karen M. Y.; Srinidhi, Bin; Gul, Ferdinand A.; Tsui, Judy S. L.
• 署名单位: Deakin University; University of Texas System; University of Texas Arlington; Wuhan College
• 刊物名称: CONTEMPORARY ACCOUNTING RESEARCH
• ISSN/ISSBN: 0823-9150
• DOI: 10.1111/1911-3846.12313
• 发表日期: 2017
• 页码: 1681-1714
• 关键词: CORPORATE GOVERNANCE; industry specialization; earnings management; DIRECTORS; women; INDEPENDENCE; performance; COMMITTEE; QUALITY; RISK

摘要

We examine whether the presence of female directors and female audit committee members affect audit quality in terms of audit effort and auditor choice by using observations from a sample of U.S. firms, spanning the years 2001-2011. We find, after controlling for endogeneity and other board, firm, and industry characteristics, that firms with gender-diverse boards (audit committees) pay 6 percent (8 percent) higher audit fees and are 6 percent (7 percent) more likely to choose specialist auditors compared to all-male boards (audit committees). Our findings suggest that boards (audit committees) with female directors (members) are likely to demand higher audit quality, ceteris paribus.