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“廈門大學會計學科教師與研究生系列Seminar”之七十八

責任編輯:劉銀燕  發布時間:2021-03-25 14:50:46   點擊次數:


為了活躍廈門大學會計學科的學術研究氛圍,激發既有教師與在校研究生的學術研究熱情和積極性,促進教師之間、教師與研究生之間、研究生彼此之間的深入交流、思想碰撞與知識分享,我們組織了由廈門大學會計學科的常任教師、博()士研究生、國際訪問學者等作為報告人的系列Seminar。該Seminar將冠以“廈門大學會計學科教師與研究生系列Seminar”的總標題,從2017314日起,每周周二/周五下午15:00-17:30舉行。該Seminar與已有的“財務、會計Seminar(主要聘請校外與境外的學者擔任報告人) 相互補充,以期能夠更好地推動廈門大學會計學科的學術發展。


題  目:Are Social Ties Really Undesirab-The Transition of CEO-Audit Committee Social Ties and Its Effect on Audit Committees' Oversight Quality

報告人:劉馨茗 助理教授

主持人:張國清 教授

時  間:2021326日(星期五),15:00-17:30

地  點:嘉庚二208

論文摘要:This study examines whether and how social ties between the CEOs and audit committees (AC) affect AC effectiveness over time. Based on a large dataset of U.S.-listed firms during 2004-2015, we document the following findings. First, we observe that CEO-AC social ties at the aggregate level have increased 5% during the sample period. At the individual level, employment ties have almost doubled from 10% in 2004 to 18% in 2015 while friendship ties and education ties remain relatively stable over time. Second, friendship ties adversely affect AC oversight quality (measured by discretionary accruals, audit fees, and likelihood of receiving going-concern opinion and internal control weakness report) in early post-SOX period (2004-2008). In recent years (2009-2015), the negative effect of friendship ties disappears and employment ties enhance AC oversight quality. These results are robust to controlling for endogeneity. The positive effect of employment ties on AC oversight quality is stronger when CEOs and ACs have prior working experience in the same industry, different gender, similar ages, and accounting expertise. Our empirical results bear important implications for regulators and investors.

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