search query: @freeterm INDEPENDENCE / total: 6
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| Author: | Piot, C. |
| Title: | The existence and independence of audit committees in France |
| Journal: | Accounting and Business Research
2004 : VOL. 34:3, p. 223-246 |
| Index terms: | Agency theory Audit committees France |
| Freeterms: | Independence |
| Language: | eng |
| Abstract: | An agency theory framework is used to investigate the determinants of audit committees in France. Empirical tests address a cross-sectional sample of 285 listed companies for the fiscal year 1997, which is two years after the first Viénot report recommending the creation of audit committees among listed companies. Multivariate analyses indicte that the existence of an audit committee, and the committee's independence, are both negatively correlated with insider ownership, consistent with the owner-manager agency theory that considers audit committees as devices aimed at strengthening the monitoring system, the quality of financial reporting and the whole corporate governance environment. |
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