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Accountability and value enhancement roles of corporate governance

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  • Ping-Sheng Koh
  • Stacie Kelley Laplante
  • Yen H. Tong
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    Abstract

    We examine the twin roles of accountability and value enhancement of corporate governance in the context of financial reporting. We investigate the accountability role by examining the association between governance structures and abnormal accruals, and the value enhancement role by investigating the association between abnormal accruals explained by governance structures and future performance. We differentiate between governance mechanisms that have direct roles in the financial reporting process (audit related) from mechanisms that have indirect roles (board related). We find that independent and active audit committees and independent boards are important governance attributes for financial reporting. We show that both audit-related and board-related governance structures are value enhancing. Copyright (c) The Authors Journal compilation (c) 2007 AFAANZ.

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    Bibliographic Info

    Article provided by Accounting and Finance Association of Australia and New Zealand in its journal Accounting and Finance.

    Volume (Year): 47 (2007)
    Issue (Month): 2 ()
    Pages: 305-333

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    Handle: RePEc:bla:acctfi:v:47:y:2007:i:2:p:305-333

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    Cited by:
    1. James Routledge & David Morrison, 2012. "Insolvency administration as a strategic response to financial distress," Australian Journal of Management, Australian School of Business, vol. 37(3), pages 441-459, December.
    2. Dewaelheyns, Nico & Eeckloo, Kristof & Van Herck, Gustaaf & Van Hulle, Cynthia & Vleugels, Arthur, 2009. "Do non-profit nursing homes separate governance roles?: The impact of size and ownership characteristics," Health Policy, Elsevier, vol. 90(2-3), pages 188-195, May.
    3. C. Piot & L. Kermiche, 2009. "A quoi servent les comit├ęs d'audit ? Un regard sur la recherche empirique," Post-Print halshs-00537952, HAL.
    4. Liyu He, & Sue Wright & Elaine Evans & Susan Crowe, 2009. "What makes a board independent? Australian evidence," Accounting Research Journal, Emerald Group Publishing, vol. 22(2), pages 144-166, September.
    5. Won Sil Kang & Alan Kilgore & Sue Wright, 2011. "The effectiveness of audit committees for low- and mid-cap firms," Managerial Auditing Journal, Emerald Group Publishing, vol. 26(7), pages 623-650, July.

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