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مقاله انگلیسی ترجمه شده با عنوان رابطه میان ترکیب هیات مدیره، ساختار مالکیت، محافظه کاری
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بخشی از محتوای مقاله:
An empirical examination of the relationship between board of director composition, ownership structure and accounting conservatism
In the present study, we investigate the relationship between corporate governance and accounting conservatism. We examine our model in the context of French firms over the period 2007-2011. We predict that an effective set of corporate governance mechanisms is positively related to a higher level of accounting conservatism. Empirical tests show that accounting conservatism depends mainly on the effectiveness of the board, the management shareholding, and the audit quality.
Keywords: Board of Directors, Corporate Governance, Accounting Conservatism
The recent financial scandals in companies such as Enron, Parmalat and Vivendi Universal has broken the confidence of the investors and raised the question of the reliability of the financial statements on which a large part of capital market activities is based. According to Lasteyrie (2002), the accounting standards played their role in the crisis of confidence of the investors and distinguish the phenomenon of opportunism, by virtue of which the principle of conservatism was abandoned in favor of the principle of "fair view ". Lobo and Zhou (2006) note that corporate scandals in American companies such as Enron and WorldCom served as a catalyst for the passage of the Sarbanes-Oxley Act. The requirements of the SarbanesOxley Act aim to “protect investors by improving the accuracy and reliability of corporate disclosures and to restore investors’ confidence in the integrity of firms’ financial statements”. Lobo and Zhou (2006) present evidence that firms on average are more conservative in their financial reporting after Sarbanes-Oxley Act. The principle of accounting conservatism influences the financial statements of the company, which can lead to a discrepancy between the financial figure and the real market value of the firm Gao (2013). In this way the presence of such a principle implies a dominance of historical figures by the effect of this accounting integration delay. Moreover, the principle of accounting conservatism is otherwise said asymmetric recognition of gains and losses. In fact, this principle does not mean that it is necessary to integrate the gains when they occur. The lower bound of the value of assets of a company is one of the consequences of this asymmetry.
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پشتیبانی خرید: 09337266852
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