Accounting conservatism and board of director characteristics: An empirical analysis

• 成果类型: Article
• 署名作者: Ahmed, Anwer S.; Duellman, Scott
• 署名单位: State University of New York (SUNY) System; Binghamton University, SUNY; Texas A&M University System; Texas A&M University College Station
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/j.jacceco.2007.01.005
• 发表日期: 2007
• 关键词: CORPORATE GOVERNANCE; earnings conservatism; Audit committee; OWNERSHIP; BEHAVIOR; firm; determinants; performance; INFORMATION; Timeliness

摘要

Using three different measures of conservatism, we document that (i) the percentage of inside directors is negatively related to conservatism, and (ii) the percentage of outside directors' shareholdings is positively related to conservatism. Our results hold after controlling for industry, firm size, leverage, growth opportunities, institutional ownership, inside director ownership, and unobservable firm characteristics that are stable over time. Overall, the evidence is consistent with accounting conservatism assisting directors in reducing agency costs of firms. (c) 2007 Elsevier B.V. All rights reserved.