¿Se comportan más éticamente las consejeras que los consejeros de las comisiones de auditoría respecto a la calidad de la información contable?
DOI:
https://doi.org/10.51302/rcyt.2018.4223Palabras clave:
comités de auditoría, consejeras, opinión del auditor, calidad de la información financieraResumen
En este análisis, nuestro objetivo es investigar cómo la diversidad de género de los comités de auditoría (CA) afecta a la calidad de la información financiera, medida con la opinión que los auditores externos emiten a las empresas en los informes de auditoría. Planteamos que existe una relación negativa entre la diversidad de género en los CA y la probabilidad de recibir salvedades con errores, incumplimientos y omisión de información, y una asociación positiva entre la diversidad de género en los CA y la probabilidad de divulgar salvedades con incertidumbres. Los resultados muestran una asociación negativa entre la proporción de mujeres en los CA, la proporción de consejeras institucionales en los CA y la presencia de mujeres presidentas en los CA y la probabilidad de recibir salvedades por errores, incumplimientos y omisión de información. Además, los resultados también evidencian una relación positiva entre la diversidad de género en los CA, excepto por la proporción de consejeras ejecutivas, y la probabilidad de divulgar salvedades con incertidumbres. Estas conclusiones sugieren que la diversidad de género en los CA mejora la calidad de la información financiera, pero la mejora según el tipo de consejeras que formen los CA.
Descargas
Citas
Act 3/2007, of 22 March, for Effective Equality between Women and Men.
Adams, R. B. y Ferreira, D. (2012). Regulatory pressure and bank directors' incentives to attend board meetings. International Review of Finance, 12(2), 227-248.
Aldama Report 2003. Informe de la Comisión Especial para el Fomento de la Transparencia y la Seguridad en los Mercados Financieros y en las Sociedades Cotizadas. Madrid.
Arellano, M. (2003). Panel data econometrics. Oxford: Oxford University Press.
Beasley, M. S. (1996). An empirical analysis of the relation between the Board of Director composition and financial statement fraud. The Accounting Review, 71(4), 443-465.
Bradbury, M. E. (1990). The incentives for voluntary Audit Committee formation. Journal of Accounting and Public Policy, 9(1), 9-36.
Burgess, Z. y Tharenou, P. (2002). Women board directors: Characteristics of the few. Journal of Business Ethics, 37(1), 39-49.
Carcello, J. V. y Neal, T. L. (2000). Audit Committee composition and auditor reporting. The Accounting Review, 75(4), 453-467.
Carcello, J. V. y Neal, T. L. (2003). Audit Committee independence and disclosure: choice for financially distressed firms. Corporate Governance: An International Review, 11(4), 289-299.
Carter, D. A., Simkins, B. J. y Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. The Financial Review, 38(1), 33-53.
Carter, D. A., Simkins, F. y Simpson, W. G. (2010). The gender and ethnic diversity of US Boards and Board Committees and firm financial performance. Corporate Governance: An International Review, 18(5), 396-414.
DeFond, M. L. y Francis, J. R. (2006). Audit research after Sarbanes-Oxley. Auditing: A Journal of Practice and Theory, 24 (Suppl.), 5-30.
Evans, G. S. (2013). Fiscal irresponsibility due to lack of women on Boards. International Journal of Arts and Commerce, 2(3), 112-124.
Faccio, M. y Lang, L. H. P. (2002). The ultimate ownership of Western European corporations. Journal of Financial Economics, 65(3), 365-395.
Fernández-Méndez, C. y Arrondo-García, R. (2007). The effects of ownership structure and board composition on the audit committee meeting frequency: Spanish evidence. Corporate Governance: An International Review, 15(5), 909-922.
Fudenberg, D. y Tirole, J. (1995). A theory of income and dividend smoothing based on incumbency rents. Journal of Political Economy, 103(1), 75-93.
Hadani, M., Goranova, M. y Khan, R. (2011). Institutional investors, shareholder activism, and earnings management. Journal of Business Research, 64(12), 1352-1360.
Heidrick y Struggles (2011). Challenging board performance. European Report on corporate governance: Heidrick & Struggles.
Huang, T-C., Huang, H-W. y Lee, C-C. (2014). Corporate executive's gender and audit fees. Managerial Auditing Journal, 29(6), 527-547.
Ittonen, K., Miettinen, J. y Vähämaa, S. (2010). Does female representation in audit committees affect audit fees? Quarterly Journal of Finance and Accounting, 49(3-4), 113-139.
Jensen, M. C. y Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360.
Jones, F. L. (1996). The information content of the auditor’s going concern evaluation. Journal of Accounting and Public Policy, 15(1), 1-27.
Khan, W. A. y Vieito, J. V. (2013). CEO gender and firm performance. Journal of Economics and Business, 67, 55-66.
Khazanchi, D. (1995). Unethical behavior in information systems: The gender factor. Journal of Business Ethics, 14(9), 741-749.
Kirchmaier, T. y Grant, J. (2004). Corporate ownership structure and performance in Europe. European Management Review, 2(3), 231-241.
Klein, A. (2002). Audit Committee, Board of Director characteristics and earnings management. Journal of Accounting and Economics, 33(3), 375-400.
Law 26/2003, Spanish Listed Companies Transparency Act.
Law 44/2002, of 22 November, Law on Measures to Reform the Financial System (BOE de 23 de noviembre).
Lee, Y.-C. (2013). Can independent directors improve the quality of earnings? Evidence from Taiwan. Advances in Management & Applied Economics, 3(3), 45-66.
Man, C.-K. y Wong, B. (2013). Corporate governance and earnings management: A survey of literature. Journal of Applied Business Research, 29(2), 391-418.
McMullen, D. A. (1996). Audit committee performance: An investigation of the consequences associated with Audit Committees. Auditing: A Journal of Practice & Theory, 15(1), 87-103.
Miguel, A. de, Pindado, J. y Torre, C. de la (2004). Ownership structure and firm value: New evidence from Spain. Strategic Management Journal, 25(12), 1199-1207.
Mutchler, J. F. (1984). Auditors’ perceptions of the going-concern opinion decision. Auditing: A Journal of Practice & Theory, 3(2), 17-30.
Nielsen, S. y Huse, M. (2010). The contribution of women on Boards of Directors: Going beyond the Surface. Corporate Governance: An International Review, 18(2), 136-148.
Niskanen, J., Karjalainen, J., Niskanen, M. y Karjalainen, J. (2011). Auditor gender and corporate earnings management behavior in private Finnish firms. Managerial Auditing Journal, 26(9), 778-793.
Olivencia Report (1998). El Buen Gobierno de las Sociedades. Madrid: Ministerio de Economía y Hacienda.
Parrotta, P. y Smith, N. (2013). Female-Led Firms: Performance and Risk Attitudes. Working Paper. Recuperado de http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2329083.
Peng, Q. (2007). Two essays on women executives and corporate decisions. Thesis, Hong Kong: The Hong Kong University.
Pomeroy, B. y Thornton, D. B. (2008). Meta-analysis and the accounting literature: The case of Audit Committee independence and financial reporting quality. European Accounting Review, 17(2), 305-330.
Pucheta-Martínez, M. C. y Fuentes-Barberá, C. de (2007). The impact of Audit Committee characteristics on the enhancement of the quality of financial reporting: an empirical study in the Spanish context. Corporate Governance: An International Review, 15(6), 1394-1412.
Pulford, B. D. y Colman, A. M. (1997). Overconfidence: Feedback and item difficulty effects. Personality and Individual Differences, 23(1), 125-133.
Qi, B. y Tian, G. (2012). The impact of Audit Committees’ personal characteristics on earnings management: Evidence from China. Journal of Applied Business Research, 28(6), 1331-1343.
Schwartz-Ziv, M. (2011). Are all welcome a-board: What do women directors bring to the table? Working Paper. Recuperado de http://ssrn.com/abstract=1868033.
Shivdasami, A. (1993). Boards composition, ownerships structure and hostile takeovers. Journal of Accounting and Economics, 16(1), 167-198.
Song, J. y Windram, B. (2004). Benchmarking Audit Committee effectiveness in financial reporting. International Journal of Auditing, 8(3), 195-205.
Srinidhi, B., Ferdinand G. y Tsui, J. (2011). Female directors and earnings quality. Contemporary Accounting Research, 28(5), 1610-1644.
Terjesen, S., Sealy, R. y Singh, V. (2009). Women directors on corporate boards: A review and research agenda. Corporate Governance: An International Review, 17(3), 320-337.
Thorne, L., Massey, D. y Magnan, M. (2003). Institutional context and auditors’ moral reasoning: A Canada-. U.S.A. comparison. Journal of Business Ethics, 43(4), 305-321.
Unified Code of Corporate Governance (CUBG) (2006). Informe del grupo especial de trabajo sobre buen gobierno de las sociedades cotizadas. Madrid: Comité Conthe.
Velury, U. y Jenkins, D. S. (2006). Institutional ownership and the quality of earnings. Journal of Business Research, 59(9), 1043-1051.
