Blockholders' Ownership and Audit Fees: The Impact of the Corporate Governance Model

Barroso, Raúl; Ali, Chiraz Ben; Lesage, Cédric

Document type :

Compte-rendu et recension critique d'ouvrage

DOI :

10.1080/09638180.2016.1243483

Title :

Blockholders' Ownership and Audit Fees: The Impact of the Corporate Governance Model

Author(s) :

Barroso, Raúl [Auteur]
Groupement de Recherche et d'Etudes en Gestion à HEC [GREGH]
Lille économie management - UMR 9221 [LEM]
Ali, Chiraz Ben [Auteur]
Lesage, Cédric [Auteur]
Groupement de Recherche et d'Etudes en Gestion à HEC [GREGH]

Journal title :

European Accounting Review

Pages :

149-172

Publication date :

2016-10-26

English keyword(s) :

governance models
shareholder model
stakeholder model

HAL domain(s) :

Sciences de l'Homme et Société/Gestion et management

English abstract : [en]

This paper examines how two prominent corporate governance models, namely the shareholder and stakeholder models, have different effects on the relation between agency conflicts and the supply, and demand of audit services. ...
Show more >This paper examines how two prominent corporate governance models, namely the shareholder and stakeholder models, have different effects on the relation between agency conflicts and the supply, and demand of audit services. Shareholder (stakeholder) countries rely heavily on public (private) information to reduce information asymmetry for outside investors in the context of high (low) litigation risk. We expect audit fees to reflect the level of agency conflicts in shareholder countries as well as the needs for information of the major blockholders in stakeholder countries. Using a sample of 7982 firm-year observations from 19 countries, we find a U-shaped relation between controlling shareholding and audit fees for shareholder countries and an inverted U-shaped relation between controlling shareholding and audit fees for stakeholder countries. These results are consistent across different firm-level governance arrangements.Show less >

Language :

Anglais

Popular science :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

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