Factors Affecting the Formation of Audit Committees in Major UK Listed Companies
- 1 January 1993
- journal article
- research article
- Published by Taylor & Francis Ltd in Accounting and Business Research
- Vol. 23 (sup1), 421-430
- https://doi.org/10.1080/00014788.1993.9729909
Abstract
This research investigates the proposition that there are differences between companies which have voluntarily formed audit committees and those which have not. The results of univariate and multivariate tests reveal statistically significant differences between the two groups for variables representing: (i) agency costs of equity, (ii) agency costs of debt, and (iii) director pressure to reduce information asymmetries.Keywords
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