The Corporate Governance Role of Audit Committees: Through the Lenses of New Zealand Institutional Investors

IF 3.1 3区 管理学 Q2 BUSINESS, FINANCE Australian Accounting Review Pub Date : 2021-06-14 DOI:10.1111/auar.12338
Julia Yonghua Wu, Ronán Feehily, Beverley Rae Lord
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引用次数: 3

Abstract

This paper explores how directors of New Zealand institutional investor entities perceive the role of audit committees in their investee firms. We find that perceptions of audit committee mechanisms by directors of New Zealand institutional investor entities are distinct in terms of: (1) the directors’ knowledge of audit committee mechanisms; (2) directors’ evaluation of the governance role of audit committees; and (3) whether and how audit committees in investee firms affect the investment decisions of institutional investors. We argue that the identities of directors and contextualising events may have contributed to the discrete views taken by the directors of New Zealand institutional investor entities. We use institutional theory and discourse analysis to design and analyse the interviews. Our paper presents evidence from New Zealand, where the adoption of audit committees has been largely driven by regulatory changes overseas. Findings from this paper may be of interest to regulators, researchers and practitioners to make informed comparisons with observations from other countries in examining the function of audit committees and in evaluating the implications of corporate governance regulatory changes. Regulators and other corporate governance stakeholders may benefit from this paper by reflecting on the reciprocal influence between an audit committee and the institutionalisation of governance practices.

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审计委员会在公司治理中的作用:通过新西兰机构投资者的视角
本文探讨了新西兰机构投资者实体的董事如何感知审计委员会在其投资公司中的作用。我们发现,新西兰机构投资者实体董事对审计委员会机制的认知在以下方面存在差异:(1)董事对审计委员会机制的认识;(2)董事对审计委员会治理作用的评价;(3)被投资公司的审计委员会是否以及如何影响机构投资者的投资决策。我们认为,董事的身份和背景事件可能促成了新西兰机构投资者实体董事所采取的离散观点。我们运用制度理论和话语分析来设计和分析访谈。我们的论文提供了来自新西兰的证据,在新西兰,审计委员会的采用在很大程度上是由海外监管变化推动的。监管机构、研究人员和从业人员可能会对本文的研究结果感兴趣,以便在审查审计委员会的职能和评估公司治理监管变化的影响时,与其他国家的观察结果进行明智的比较。通过反思审计委员会与治理实践制度化之间的相互影响,监管者和其他公司治理利益相关者可能会从本文中受益。
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来源期刊
Australian Accounting Review
Australian Accounting Review BUSINESS, FINANCE-
CiteScore
6.30
自引率
17.60%
发文量
31
期刊最新文献
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