The Effect of Institutional Ownership on Board and Audit Committee Composition

Autor:	David L. Schwarzkopf, Dorothy Feldmann
Rok vydání:	2003
Předmět:	business.industry Corporate governance Audit committee Control (management) Chief audit executive Accounting On board Internal audit Joint audit business General Economics Econometrics and Finance Composition (language) Finance
Zdroj:	Review of Accounting and Finance. 2:87-109
ISSN:	1475-7702
DOI:	10.1108/eb043393
Popis:	We investigate the relationship between institutional shareholdings and the firm's corporate governance by looking at changes in the composition of the board of directors and audit committee while institutional ownership increases over time. Our comparison of 74 firms showing increased institutional ownership with a matched control group of 62 firms finds that increased institutional ownership is positively associated with a higher proportion of outsiders on the board and with audit committee and board members who are less entrenched. These factors are widely regarded as signs of a strengthened system of corporate governance and control, underscoring the important role that institutional ownership may play in the firm's corporate governance structure.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::17db28f68614d320d8cb171f181b89cd https://doi.org/10.1108/eb043393 Zobrazit plný text záznamu