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Accountability and value enhancement roles of corporate governance

  • Ping-Sheng Koh
  • Stacie Kelley Laplante
  • Yen H. Tong
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    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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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-629X.2006.00207.x
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    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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