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Family control, board independence and earnings management: Evidence based on Hong Kong firms

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  • Jaggi, Bikki
  • Leung, Sidney
  • Gul, Ferdinand

Abstract

In this study, we document that independent corporate boards of Hong Kong firms provide effective monitoring of earnings management, which suggests that despite differences in institutional environments, corporate board independence is important to ensure high-quality financial reporting. The findings also show that the monitoring effectiveness of corporate boards is moderated in family-controlled firms, either through ownership concentration or the presence of family members on corporate boards. The results based on firms reporting small earnings increases provide additional support for our finding that the monitoring effectiveness of independent corporate boards is moderated in family-controlled firms.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Accounting and Public Policy.

Volume (Year): 28 (2009)
Issue (Month): 4 (July)
Pages: 281-300

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Handle: RePEc:eee:jappol:v:28:y:2009:i:4:p:281-300

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Web page: http://www.elsevier.com/locate/jaccpubpol

Related research

Keywords: Corporate governance Earnings management Earnings quality Family ownership concentration Family board members;

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Cited by:
  1. Hope, Ole-Kristian & Langli, John Christian & Thomas, Wayne B., 2012. "Agency conflicts and auditing in private firms," Accounting, Organizations and Society, Elsevier, vol. 37(7), pages 500-517.
  2. Oudam Toeung, 2013. "Investor sophistication and earnings management during economic crisis: evidence from the banking industry," Post-Print dumas-00934329, HAL.
  3. Stockmans, Annelies & Lybaert, Nadine & Voordeckers, Wim, 2013. "The conditional nature of board characteristics in constraining earnings management in private family firms," Journal of Family Business Strategy, Elsevier, vol. 4(2), pages 84-92.
  4. Mohd Azmi Mohd Noor Author_Email: mnmazmi@ tm.com.my & Dr. Faudziah Hanim Bt Fadzil, 2011. "Influence Of Corporate Governance Attributes On Firms’ Financial Performance In Malaysia," Annual Summit on Business and Entrepreneurial Studies (ASBES 2011) Proceeding 2011-039-124, Conference Master Resources.
  5. Yves Mard & Sylvain Marsat, 2011. "Gestion des résultats comptables et structure de l'actionnariat : le cas français," Post-Print hal-00650550, HAL.
  6. Lee, Chin-Chong & Poon, Wai-Ching & Sinnakkannu, Jothee, 2014. "Why are rights offers in Hong Kong so different?," Pacific-Basin Finance Journal, Elsevier, vol. 26(C), pages 176-197.
  7. Chia-Ling Chao & Shwu-Min Horng, 2013. "Asset write-offs discretion and accruals management in Taiwan: the role of corporate governance," Review of Quantitative Finance and Accounting, Springer, vol. 40(1), pages 41-74, January.
  8. Pathak, Jagdish & Sun, Jerry, 2013. "Does investor protection regime affect the effectiveness of outside directorship on the board?," Journal of Multinational Financial Management, Elsevier, vol. 23(1), pages 19-33.
  9. Goel, Sanjay & Mazzola, Pietro & Phan, Phillip H. & Pieper, Torsten M. & Zachary, Ramona K., 2012. "Strategy, ownership, governance, and socio-psychological perspectives on family businesses from around the world," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 54-65.
  10. Wan-Hussin, Wan Nordin, 2009. "The impact of family-firm structure and board composition on corporate transparency: Evidence based on segment disclosures in Malaysia," The International Journal of Accounting, Elsevier, vol. 44(4), pages 313-333, December.
  11. García-Ramos, Rebeca & García-Olalla, Myriam, 2011. "Board characteristics and firm performance in public founder- and nonfounder-led family businesses," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 220-231.
  12. Ismail Adelopo & Kumba Jallow & Peter Scott, 2012. "Multiple large ownership structure, audit committee activity and audit fees: Evidence from the UK," Journal of Applied Accounting Research, Emerald Group Publishing, vol. 13(2), pages 100-121.
  13. Greco, Giulio, 2012. "Ownership structures, corporate governance and earnings management in the European Oil Industry," MPRA Paper 37198, University Library of Munich, Germany.
  14. Guoping Liu & Jerry Sun, 2010. "Ultimate ownership structure and corporate disclosure quality: evidence from China," Managerial Finance, Emerald Group Publishing, vol. 36(5), pages 452-467, May.
  15. Jesus Sáenz González & Emma García-Meca, 2014. "Does Corporate Governance Influence Earnings Management in Latin American Markets?," Journal of Business Ethics, Springer, vol. 121(3), pages 419-440, May.

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