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The Effects of Ownership Structure and Board Composition on the Audit Committee Meeting Frequency: Spanish evidence

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  • Carlos Fernández Méndez
  • Rubén Arrondo García

Abstract

This paper examines the factors that affect the activity of the audit committees in Spain. The data used in the analyses are collected from the Spanish stock market in 2003. The results show the existence of a non‐linear relationship between the managerial stock ownership and the activity of the audit committee. We have also verified the existence of a lower audit committee's activity in highly leveraged firms and when the ownership structure is concentrated in the hands of large shareholders. The large firms have more active committees than small firms. Finally, we have not found any evidence of a significant influence of the composition of the board or the audit committee on the activity of the latter.

Suggested Citation

  • Carlos Fernández Méndez & Rubén Arrondo García, 2007. "The Effects of Ownership Structure and Board Composition on the Audit Committee Meeting Frequency: Spanish evidence," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(5), pages 909-922, September.
    • Handle: RePEc:bla:corgov:v:15:y:2007:i:5:p:909-922
    DOI: 10.1111/j.1467-8683.2007.00619.x
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    Cited by:

    1. Marco Allegrini & Giulio Greco, 2013. "Corporate boards, audit committees and voluntary disclosure: evidence from Italian Listed Companies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 17(1), pages 187-216, February.
    2. Romilda Mazzotta & Stefania Veltri, 2014. "The relationship between corporate governance and the cost of equity capital. Evidence from the Italian stock exchange," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 18(2), pages 419-448, May.
    3. Basil Al‐Najjar, 2012. "The determinants of board meetings: evidence from categorical analysis," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 13(2), pages 178-190, September.
    4. Isabel‐María García Sánchez & Luis Rodríguez Domínguez & Isabel Gallego Álvarez, 2011. "Corporate governance and strategic information on the internet," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 24(4), pages 471-501, May.
    5. Giulio Greco, 2011. "Determinants of board and audit committee meeting frequency: Evidence from Italian companies," Managerial Auditing Journal, Emerald Group Publishing, vol. 26(3), pages 208-229, March.
    6. Bishnu Kumar Adhikary & Ranjan Kumar Mitra, 2016. "Determinants of Audit Committee Independence in the Financial Sector of Bangladesh," Applied Finance and Accounting, Redfame publishing, vol. 2(2), pages 46-56, August.
    7. Yves Mard & Sylvain Marsat, 2011. "Gestion des résultats comptables et structure de l'actionnariat : le cas français," Post-Print hal-00650550, HAL.

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