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

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

Type de document :

Compte-rendu et recension critique d'ouvrage

DOI :

10.1080/09638180.2016.1243483

Titre :

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

Auteur(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]

Titre de la revue :

European Accounting Review

Pagination :

149-172

Date de publication :

2016-10-26

Mot(s)-clé(s) en anglais :

governance models
shareholder model
stakeholder model

Discipline(s) HAL :

Sciences de l'Homme et Société/Gestion et management

Résumé en anglais : [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. ...
Lire la suite >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.Lire moins >

Langue :

Anglais

Vulgarisation :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

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