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Title: Audit committee and factors that affect its characteristics: the case of Greece
Authors: Drogalas, George
Nerantzidis, Michail
Samaras, Margaritis
Pazarskis, Michail
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Accounting
Keywords: Corporate governance
Internal audit
Athens stock exchange
Issue Date: 16-Jul-2020
Volume: 17
Issue: 4
First Page: 181
Last Page: 194
Abstract: Policy-makers currently place great emphasis on strengthening the audit committees’ structure. Underlying this is a belief that strengthening the audit committees’ structure may enhance the effectiveness as well as the quality of financial information. In this research, we examine the relationship between audit committee characteristics (number of AC members, percentage of independent audit committee members and percentage of board directors) and structure, accounting and corporate governance-related measures. Using a sample of 126 listed companies on the Athens Stock Exchange, we show that audit committee size has a positive relationship with the number of the firm’s employees and negative relationship with operating cash flows and the presence of an executive chairman. Moreover, we find that audit committee effectiveness has a positive relationship with the percentage of independent directors. On that basis, our findings are important since they highlight the usefulness of audit committees and offers insights to academics, practitioners and policy-makers.
ISSN: 1741-3591
Electronic ISSN: 
Other Identifiers: 10.1057/s41310-020-00081-2
Appears in Collections:Department of Business Administration

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