Factors of audit committee independence: An empirical study from an emerging economy

This study aims to examine the factors affecting the independence of audit committees (ACs) in the nonfinancial sector of Bangladesh. It is a quantitative study on 109 Dhaka Stock Exchange (DSE) listed nonfinancial firms from the year 2013 to 2017 producing 502 firm-year observations. Pooled OLS, ra...

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Autores principales:	Md. Hossain Ali, Mohammad Rajon Meah
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2021
Materias:	corporate governance corporate board audit committee independence ownership Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/466ac3e9d90d4c7f84bfa2bc14b16356
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id	oai:doaj.org-article:466ac3e9d90d4c7f84bfa2bc14b16356
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spelling	oai:doaj.org-article:466ac3e9d90d4c7f84bfa2bc14b163562021-12-02T13:25:57ZFactors of audit committee independence: An empirical study from an emerging economy2331-197510.1080/23311975.2021.1888678https://doaj.org/article/466ac3e9d90d4c7f84bfa2bc14b163562021-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2021.1888678https://doaj.org/toc/2331-1975This study aims to examine the factors affecting the independence of audit committees (ACs) in the nonfinancial sector of Bangladesh. It is a quantitative study on 109 Dhaka Stock Exchange (DSE) listed nonfinancial firms from the year 2013 to 2017 producing 502 firm-year observations. Pooled OLS, random effect, Logit, Tobit, and lag model regressions are the statistical tools applied to test the hypotheses of this study. Empirical results show that large corporate boards and more independent directors on corporate boards provide more independence to the audit committees while large audit committees lag behind regarding independence. It is also found that audit committees enjoy more independence in firms having more institutional ownership but less independence in firms having more insiders’ ownership. The regulation plays an important role by commanding the size and independence of boards which in turn significantly affect audit committee independence. Further regulatory reforms may, therefore, be considered to ensure more independence of corporate audit committees.Md. Hossain AliMohammad Rajon MeahTaylor & Francis Grouparticlecorporate governancecorporate boardaudit committeeindependenceownershipBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 8, Iss 1 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	corporate governance corporate board audit committee independence ownership Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	corporate governance corporate board audit committee independence ownership Business HF5001-6182 Management. Industrial management HD28-70 Md. Hossain Ali Mohammad Rajon Meah Factors of audit committee independence: An empirical study from an emerging economy
description	This study aims to examine the factors affecting the independence of audit committees (ACs) in the nonfinancial sector of Bangladesh. It is a quantitative study on 109 Dhaka Stock Exchange (DSE) listed nonfinancial firms from the year 2013 to 2017 producing 502 firm-year observations. Pooled OLS, random effect, Logit, Tobit, and lag model regressions are the statistical tools applied to test the hypotheses of this study. Empirical results show that large corporate boards and more independent directors on corporate boards provide more independence to the audit committees while large audit committees lag behind regarding independence. It is also found that audit committees enjoy more independence in firms having more institutional ownership but less independence in firms having more insiders’ ownership. The regulation plays an important role by commanding the size and independence of boards which in turn significantly affect audit committee independence. Further regulatory reforms may, therefore, be considered to ensure more independence of corporate audit committees.
format	article
author	Md. Hossain Ali Mohammad Rajon Meah
author_facet	Md. Hossain Ali Mohammad Rajon Meah
author_sort	Md. Hossain Ali
title	Factors of audit committee independence: An empirical study from an emerging economy
title_short	Factors of audit committee independence: An empirical study from an emerging economy
title_full	Factors of audit committee independence: An empirical study from an emerging economy
title_fullStr	Factors of audit committee independence: An empirical study from an emerging economy
title_full_unstemmed	Factors of audit committee independence: An empirical study from an emerging economy
title_sort	factors of audit committee independence: an empirical study from an emerging economy
publisher	Taylor & Francis Group
publishDate	2021
url	https://doaj.org/article/466ac3e9d90d4c7f84bfa2bc14b16356
work_keys_str_mv	AT mdhossainali factorsofauditcommitteeindependenceanempiricalstudyfromanemergingeconomy AT mohammadrajonmeah factorsofauditcommitteeindependenceanempiricalstudyfromanemergingeconomy
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Factors of audit committee independence: An empirical study from an emerging economy

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