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Article
Publication date: 1 February 2005

Obeua S. Persons

This study examines the relation between the likelihood of financial statement fraud and certain corporate governance requirements of the Sarbanes‐Oxley Act and the new rules of…

2284

Abstract

This study examines the relation between the likelihood of financial statement fraud and certain corporate governance requirements of the Sarbanes‐Oxley Act and the new rules of the NYSE and the NASDAQ stock markets. Results based upon a logit regression analysis on a sample of 111 fraud firms and 111 matched no‐fraud firms indicate that fraud likelihood is lower when audit committee is comprised solely of independent directors and when audit committee members have smaller number of directorships with other companies. Board of director independence, audit committee expertise and nominating committee independence are not significant variables in reducing fraud likelihood. The study also investigates several other corporate governance variables and finds that fraud likelihood is lower when audit committee has longer tenure and chief executive officer is not chairman of the board. These results highlight two new significant aspects of audit committee: the directorships of its members with other firms and the committee members' tenure. The results have direct implications for further improvement of corporate governance.

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Review of Accounting and Finance, vol. 4 no. 2
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 1 September 1999

Obeua S. Persons

Outlines previous research on the links between R&D expenditure, firm value and executive compensation; and presents a study of the relationship between R&D expenditure and total…

817

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Outlines previous research on the links between R&D expenditure, firm value and executive compensation; and presents a study of the relationship between R&D expenditure and total cash executive compensation in the US pharmaceutical and computer/telecommunications industries between 1979 and 1996. Uses pooled cross‐sectional time series regression to find a positive link between compensation, R&D and accounting earnings for both industries over the whole period (although the significance varies for each in different sub‐periods); but mixed results for the relationship with cash flow. Discusses consistency with other research and the implications of the findings.

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Managerial Finance, vol. 25 no. 9
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 9 October 2020

Ali C. Akyol

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Corporate Fraud Exposed
Type: Book
ISBN: 978-1-78973-418-8

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