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首页> 外文期刊>Accounting in Europe >Determinants of Voluntary Audit Committee Formation in a Two-Tier Board System of a Post-transitional Economy - The Case of Slovenia
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Determinants of Voluntary Audit Committee Formation in a Two-Tier Board System of a Post-transitional Economy - The Case of Slovenia

机译：后过渡经济两层董事会制度中自愿审计委员会形成的决定因素-斯洛文尼亚案例

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摘要

This paper investigates the determinants of voluntary audit committee (AC) formation in a setting characterized by: (i) a two-tier board system; (ii) a post-transitional economy. Both factors may affect the system of incentives that influences the decision to form an AC and both factors distinguish this paper from existing studies that are usually done under a unitary-board system in a developed capital market. Only a minority (17%) of companies in our sample had voluntarily established ACs by the time ACs had become mandatory by law. We find that larger firms, firms with larger supervisory boards and firms with less debt (rather than more) are more likely to have voluntarily established an AC. Although the inverse relationship between debt and AC formation contradicts the debt holder-manager conflict it can be explained in the context of a post-transitional economy, where the ownership structure appears not to have stabilized yet and where debt has been used as a means of achieving effective control of firms by insiders.View full textDownload full textRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/17449480.2011.621674
机译：本文在以下情况下调查了自愿审计委员会（AC）成立的决定因素：（i）两层董事会制度； （ii）后过渡时期的经济。这两个因素都可能影响形成AC的决策的激励机制，并且这两个因素使本文与通常在发达的资本市场中以单一董事会制进行的现有研究区分开来。在AC成为法律强制性要求时，样本中只有少数（17％）公司自愿建立了AC。我们发现，较大的公司，具有较大监督委员会的公司和债务较少（而不是更多）的公司更可能自愿建立AC。尽管债务与AC形成之间的逆关系与债务持有人-经理之间的冲突相矛盾，但可以在过渡后经济的背景下对此进行解释，在这种情况下，所有权结构似乎尚未稳定，并且债务已被用作一种债务偿还方式。通过内部人员获得对公司的有效控制。 “，pubid：” ra-4dff56cd6bb1830b“};添加到候选列表链接永久链接http://dx.doi.org/10.1080/17449480.2011.621674

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