Women directors and audit fees: Empirical evidence from Malaysia

This study investigates board diversity and its effects on audit fee in case of Malaysia. The main aim of this study is to examine whether bumiputera women on board, numbers of women on board, women on board’s independent and women on board’s expertise are influence the audit fee in the non-financi...

Full description

Saved in:

Bibliographic Details
Main Author:	M Elhaj, Elhusin Belkasem
Format:	Thesis
Language:	eng eng
Published:	2016
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/6162/1/s816470_01.pdf https://etd.uum.edu.my/6162/2/s816470_02.pdf
Tags:	Add Tag No Tags, Be the first to tag this record!

id	my-uum-etd.6162
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Md Yusof, Mohd Atef
topic	HG Finance
spellingShingle	HG Finance M Elhaj, Elhusin Belkasem Women directors and audit fees: Empirical evidence from Malaysia
description	This study investigates board diversity and its effects on audit fee in case of Malaysia. The main aim of this study is to examine whether bumiputera women on board, numbers of women on board, women on board’s independent and women on board’s expertise are influence the audit fee in the non-financial listed companies of Malaysia. Data for the 250 companies for the year 2014 were collected. The reported results of correlation analysis show that all the variables are correlated in the given time period. Furthermore, data set pass the entire preliminary test such as outliers, linearity, normality, multicollinearity, heteroscedasticity for regression analysis namely Ordinary Least Square (OLS). The results of OLS shows that the no relationship between bumiputera women on board, numbers of women on board, women on board’s independent and women on board’s expertise and audit fee. The results are not surprising since only 11 percent total women and 5.1 percent bumiputera women are on board in the listed nonfinancial companies in Malaysia. Although there is little improvement in the number of women on board in listed non-financial companies but there is still need to increase the numbers till 30 percent. The findings of this study are very important for the Malaysian companies to improve the performance.
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	M Elhaj, Elhusin Belkasem
author_facet	M Elhaj, Elhusin Belkasem
author_sort	M Elhaj, Elhusin Belkasem
title	Women directors and audit fees: Empirical evidence from Malaysia
title_short	Women directors and audit fees: Empirical evidence from Malaysia
title_full	Women directors and audit fees: Empirical evidence from Malaysia
title_fullStr	Women directors and audit fees: Empirical evidence from Malaysia
title_full_unstemmed	Women directors and audit fees: Empirical evidence from Malaysia
title_sort	women directors and audit fees: empirical evidence from malaysia
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2016
url	https://etd.uum.edu.my/6162/1/s816470_01.pdf https://etd.uum.edu.my/6162/2/s816470_02.pdf
_version_	1747828030792794112
spelling	my-uum-etd.61622021-04-06T06:16:09Z Women directors and audit fees: Empirical evidence from Malaysia 2016 M Elhaj, Elhusin Belkasem Md Yusof, Mohd Atef Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance This study investigates board diversity and its effects on audit fee in case of Malaysia. The main aim of this study is to examine whether bumiputera women on board, numbers of women on board, women on board’s independent and women on board’s expertise are influence the audit fee in the non-financial listed companies of Malaysia. Data for the 250 companies for the year 2014 were collected. The reported results of correlation analysis show that all the variables are correlated in the given time period. Furthermore, data set pass the entire preliminary test such as outliers, linearity, normality, multicollinearity, heteroscedasticity for regression analysis namely Ordinary Least Square (OLS). The results of OLS shows that the no relationship between bumiputera women on board, numbers of women on board, women on board’s independent and women on board’s expertise and audit fee. The results are not surprising since only 11 percent total women and 5.1 percent bumiputera women are on board in the listed nonfinancial companies in Malaysia. Although there is little improvement in the number of women on board in listed non-financial companies but there is still need to increase the numbers till 30 percent. The findings of this study are very important for the Malaysian companies to improve the performance. 2016 Thesis https://etd.uum.edu.my/6162/ https://etd.uum.edu.my/6162/1/s816470_01.pdf text eng public https://etd.uum.edu.my/6162/2/s816470_02.pdf text eng public masters masters Universiti Utara Malaysia Abdullah, S. N. (2014). The causes of gender diversity in Malaysian large firms. Journal of Management & Governance, 18(4), 1137-1159 . Ahmad-Zaluki, N. A. (2012). The pre-and post-IPOs gender composition of board of directors in Malaysia. Gender in Management: An International Journal, 27(7), 462- 449 . Abdullah, S. N. (2001). Characteristics of board of directors and audit committees among Malaysian listed companies in period leading to 1997 financial crisis. Akauntan Nasional, 14(10), 18-21. Abdullah, S. N., Nor, K., & Ku, I. (2012). Do Women Directors Constraint Accrual Management ? Malaysian Evidence, (2008). International Conference on Business and Economics. Abdullah, S. N., & Ismail, K. N. I. K. (2013). Gender, ethnic and age diversity of the boards of large Malaysian firms and performance. Journal Pengurusan, 38, 27-40. Abbott, L. J., Parker, S., & Peters, G. F. (2004). Audit committee characteristics and restatements. Auditing: A Journal of Practice & Theory,23(1), 69-87. Abbott, L. J., Parker, S., Peters, G. F., & Raghunandan, K. (2003). The association between audit committee characteristics and audit fees. Auditing: A Journal of Practice & Theory, 22(2), 17-32. Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of Financial Economics, 94(2), 291–309. http://doi.org/10.1016/j.jfineco.2008.10.007 Ahmad, C. A., Houghton, A. K., & Yosaf, M. N. Z. (2006). The Malaysian market for audit services: ethnicity, multinational companies and auditor choice. Managerial Auditing Journal, 21(7), 702–723. Amran, N. A., Ismail, K., Izah, K. N., Aripin, N., Hassan, N., Abd Manaf, K. B., & Abdullah, S. N. (2014). Women directors involvement in Malaysia. Australian Journal of Basic and Applied Sciences, 8(5), 226-231. Al-Ajmi, J. (2008). Audit and reporting delays: Evidence from an emerging market. Advances in Accounting, 24(2), 217-226. Ancona, D. G., & Caldwell, D. F. (1992). Demography and design: Predictors of new product team performance. Organization science, 3(3), 321-341 . Anderson, E. (2008). The salesperson as outside agent or employee: a transaction cost analysis. Marketing science, 27(1), 70-84. Antle, R., Gordon, E., Narayanamoorthy, G., & Zhou, L. (2006). The joint determination of audit fees, non-audit fees, and abnormal accruals. Review of Quantitative Finance and Accounting, 27(3), 235-266. Arfken, D. E., Bellar, S. L., & Helms, M. M. (2004). The ultimate glass ceiling Revisited: The presence of women on corporate boards. Journal of Business ethics, 50(2), 177-186. Ancona, D. G., & Caldwell, D. F. (1992). Demography and design: Predictors of new product team performance. Organization science, 3(3), 321-341. Anderson, E. (2008). The salesperson as outside agent or employee: a transaction cost analysis. Marketing science, 27(1), 70-84. Arun, T. G., Almahrog, Y. E., & Aribi, Z. A. (2015). Female directors and earnings management: Evidence from UK companies. International Review of Financial Analysis, 39, 137-146. Albright, Jeremy J, & Marinova, Dani M. (2010). Estimating multilevel models using SPSS, Stata, SAS, and R. Indiana University. Alexander, V. D., & Thoits, P. A. (1985). Token achievement: An examination of proportional representation and performance outcomes. Social Forces, 64(2), 332 - 340. Antle, R., Gordon, E., Narayanamoorthy, G., & Zhou, L. (2006). The joint determination of audit fees, non-audit fees, and abnormal accruals. Review of Quantitative Finance and Accounting, 27(3), 235-266. Arfken, D. E., Bellar, S. L., & Helms, M. M. (2004). The ultimate glass ceiling revisited: The presence of women on corporate boards. Journal of Business ethics, 50(2), 177-186. Azmi, I. A. G., & Barrett, M. A. (2013). Women on boards and company financial performance: A study of Malaysian SMEs. In Proc. of 3rd Global. Accounting, Finance and Economics Conference. Melbourne: World Business Institute (pp. 1-8). Azmi, I. A. G., & Barrett, M. A. (2014). Women on Boards and Firm Performance in Malaysia: Preparing to Open the Black Box. International Proceedings of Economics Development and Research, 76, 51. Beasley, M. S. (1996). An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review, 443-465. Beckmann, D., & Menkhoff, L. (2008). Will women be women? Analyzing the gender difference among financial experts. Kyklos, 61(3), 364-384. Brown. V. B. D & Brown.D. (2002). Women On Boards: Not Just the Right Thing But the ‘Bright. Paper presented at the Thing’(May 2002) The Conference phanira /Web Research Methods/women -bod&fp- conference% 20board. pdf. Bédard, J., Chtourou, S. M., & Courteau, L. (2004). The effect of audit committee expertise, independence, and activity on aggressive earnings management. Auditing: A Journal of Practice & Theory, 23(2), 13-35. Berry, W. D. (1993). Understanding regression assumptions (Vol. 92). Sage Publications. Blalock, H. M. (1967). Toward a theory of minority-group relations. by hubert blalock. JR. (New York; London, John Wiley & Sons, Inc., 1967). Burke, R. J. (1997). Women directors: selection, acceptance and benefits of board membership. Corporate Governance: An International Review, 5(3), 118-125. Butler, S. R. (2012). 'Financial Expert': A Subtle Blow to the Pool and Current Pipeline of Women on Corporate Boards. Financial Expert": A Subtle Blow to the Pool and Current Pipeline of Women on Corporate Boards, Butler, S, 14. Burke, R. J., & Mattis, M. C. (2013). women on corporate boards of directors. International challenges and opportunities (Vol. 14). Springer Science & Business Media. Bernasek, A., & Shwiff, S. (2001). Gender, risk, and retirement. Journal of Economic Issues, 35(2), 345–356. http://doi.org/10.1080/00213624.2001.11506368. Burke, R. J. (1993). Women on Corporate Boards of Directors. Equal Opportunities International, 12, 5–13. http://doi.org/10.1108/eb010613. Bøhren, Ø, & Strøm, Ø. (2007). Aligned, informed, and decisive: Characteristics of value-creating boards (EFA 2007 Ljubljana Meetings Paper). Beasley, M. S. (1996). An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review, 443-465. Bolbol, I. I. (2012). Board Characteristics and dividend payout of Malaysian Companies. Universiti Utara Malaysia. Cai, H. (2007). Bonding, law enforcement and corporate governance in China. Bonding, Law Enforcement and Corporate Governance in China. Stanford. Journal of Law, Business, and Finance, 13, 82. Campbell, K., & Mínguez-Vera, A. (2008). Gender diversity in the boardroom and firm financial performance. Journal of business ethics, 83(3), 435-451. Carati, G., & Tourani Rad, A. (2000). Convergence of corporate governance systems. Managerial Finance, 26(10), 66-73. Cohen, J., Cohen, P., West, S. G., & Aiken, L. S. (2013). Applied multiple regression/correlation analysis for the behavioral sciences. Routledge. Carcello, J. V., Hermanson, D. R., Neal, T. L., & Riley, R. A. (2002). Board characteristics and audit fees. Contemporary accounting research, 19(3), 365-384. Carcello, J. V., Hollingsworth, C. W., Klein, A., & Neal, T. L. (2006). Audit committee financial expertise, competing corporate governance mechanisms, and earnings management. Competing Corporate Governance Mechanisms, and Earnings Management (February 2006). Carter, D. A., D'Souza, F., Simkins, B. J., & 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. Carter, D. A., Simkins, B. J., & Simpson, W. G. (2003). Corporate governance, board diversity, and firm value. Financial review, 38(1), 33-53. Carter, N. M., & Wagner, H. M. (2011). The bottom line: Corporate performance and women’s representation on boards (2004–2008). Catalyst,1. Che-Ahmad, A., & Houghton, K. A. (2001, September). The effect of ethnicity on audit pricing. In The 2nd Asian Academic Accounting Association (AAAA) Conference, Proceedings (pp. 17-19). Coffey, B. S., & Wang, J. (1998). Board diversity and managerial control as predictors of corporate social performance. Journal of Business Ethics, 17(14), 1595-1603. Cohen, J. R., Krishnamoorthy, G., & Wright, A. (2004). The corporate governance mosaic and financial reporting quality. Journal of accounting literature, 87-152. Cox, T. H., Lobel, S. A., & McLeod, P. L. (1991). Effects of ethnic group cultural differences on cooperative and competitive behavior on a group task. Academy of Management journal, 34(4), 827-847. Crocker, J., & McGraw, K. M. (1984). What's Good for the Goose Is Not Good for the Gander Solo Status as an Obstacle to Occupational Achievement for Males and Females. American Behavioral Scientist, 27(3), 357-369. Claessens, S., Djankov, S., Fan, J. P., & Lang, L. H. (2002). Disentangling the incentive and entrenchment effects of large shareholdings. The journal of finance, 57(6), 2741-2771. Curtis, M., Schmid, C., & Struber, M. (2012). Gender diversity and corporate performance. Credit Suisse, Research Institute. Campbell, K., & Mínguez-Vera, A. (2008). Gender diversity in the boardroom and firm financial performance. Journal of business ethics, 83(3), 435-451. Carati, G., & Tourani Rad, A. (2000). Convergence of corporate governance systems. Managerial Finance, 26(10), 66-73. Carcello, J. V., Hermanson, D. R., Neal, T. L., & Riley, R. A. (2002). Board characteristics and audit fees. Contemporary accounting research, 19(3), 365-384. Carter, D. A., Souza, F. D., Simkins, B. J., & Simpson, W. G. (2007). The diversity of corporate board committees and financial performance. Oklahoma State University, Working Paper. http://doi.org/10.2139/ssrn.1106698. Chtourou, S. M., Bédard, J., & Courteau, L. (2001). Corporate Governance and Earnings Management. Social Science Research Network, 4(April), 1–35. http://doi.org/10.2139/ssrn.275053. Craswell, A. T., Francis, J. R., & Taylor, S. L. (1995). Auditor brand name reputations and industry Sl ~ cializations. Journal of Accounting and Economics, 20(2), 297–322. Daily, C. M., Dalton, D. R., & Cannella, A. A. (2003). Corporate governance: Decades of dialogue and data. Academy of management review, 28(3), 371-382. Deaux, K., & Lewis, L. L. (1984). Structure of gender stereotypes: Interrelationships among components and gender label. Journal of personality and Social Psychology, 46(5), 991. Draper, N. R., & John, J. A. (1981). Influential observations and outliers in regression. Technometrics, 23(1), 21-26. Dwyer, S., Richard, O. C., & Chadwick, K. (2003). Gender diversity in management and firm performance: the influence of growth orientation and organizational culture. Journal of Business Research, 56(12), 1009-1019. Daily, C. M., Certo, S. T., & Dalton, D. R. (2000). International experience in the executive suite: the path to prosperity? Strategic Management Journal, 21(4), 515–523. Dobbin, F., & Jung, J. (2011). Corporate Board Gender Diversity and Stock Performance: The Competence GAP or Institutional Investor Bias? North Carolina Law Review, 89(2007), 809–838. Deaux, K., & Lewis, L. L. (1984). Structure of gender stereotypes: Interrelationships among components and gender label. Journal of personality and Social Psychology, 991,(5)46. DeZoort, F Tood. (1998). An analysis of experience effects on audit committee members' oversight judgments. Accounting, Organizations and Society, 23(1), 1-21. Department of Statistic (2010). Malaysian census. Kuala Lumpur. Efferin, S., & Hopper, T. (2007). Management control, culture and ethnicity in a Chinese Indonesian company. Accounting, Organizations and Society,32(3), 223-262. Eichenseher, J. W. (1995). Additional factors in audit pricing—New evidence from Malaysia. Accounting and business review, 2(1), 1-26. Erhardt, N., Werbel, J., and Shrader, C. (2003). Board of director diversity and firm financial performance, Corporate Governance: An International Review, 11(2), 102-111. Eagly, Alice H, Johannesen-Schmidt, Mary C, & Van Engen, Marloes L. (2003). Transformational, transactional, and laissez-faire leadership styles: a metaanalysis. comparing women and men. Psychological bulletin, 129(4), 569 Elstad, Beate, & Ladegard, Gro. (2012). Women on corporate boards: key influencers or tokens? Journal of Management & Governance, 16(4), 595-615. El-Gammal, W. (2012). Determinants of audit fees: Evidence from Lebanon. International Business Research, 5(11), 136-145. Efferin, S., & Hopper, T. (2007). Management control, culture and ethnicity in a Chinese Indonesian company. Accounting, Organizations and Society,32(3), 223-262. Fama, E. F. (1980). Agency Problems and the Theory of the Firm. The journal of political economy, 288-307. Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control .The Journal of Law & Economics, 26(2), 301-325. Francis, B., Hasan, I., Park, J. C., & Wu, Q. (2015). Gender differences in financial reporting decision making: Evidence from accounting conservatism. Contemporary Accounting Research, 32(3), 1285-1318. Francis, J. R., & Yu, M. D. (2009). Big 4 office size and audit quality. The Accounting Review, 84(5), 1521-1552. Franks, J., & Mayer, C. (2001). Ownership and control of German corporations. Review of Financial Studies, 14(4), 943-977. Farrer, Jonathan, & Ramsay, Ian. (1998). Director share ownership and corporate performance–evidence from Australia. Corporate Governance: An International Review, 6(4), 233-248. Farrell, K. A., & Hersch, P. L. (2005). Additions to corporate boards: the effect of gender. Journal of Corporate finance, 11(1), 85-106. Francis, Jere R. (1984). The effect of audit firm size on audit prices: A study of the Australian market. Journal of accounting and economics, 6(2), 133-151. Gao, L., & Kling, G. (2008). Corporate governance and tunneling: Empirical evidence from China. Pacific-Basin Finance Journal, 16(5), 591-605. Goodstein, J., Gautam, K., & Boeker, W. (1994). The effects of board size and diversity on strategic change. Strategic management journal, 15(3), 241-250. Gray, W. R. (2013). Why exclude financial firms from quantitative studies? Retrieved from http://blog.alphaarchitect.com/2013/11/25/why-exclude-financial-firmsfrom-quantitative-studies/ #gs.LhZ3Kk. Gallego-Álvarez, I., García-Sánchez, I. M., & Rodríguez-Dominguez, L. (2010). The influence of gender diversity on corporate performance. Revista de Contabilidad, 13(1), 53-88. Griffin, P. a., Lont, D. H., & Sun, Y. (2008). Corporate Governance and Audit Fees: Evidence of Countervailing Relations. Journal of Contemporary Accounting & Economics, 4(October 2007), 18–49. http://doi.org/10.1016/S1815- 5669(10)70028-X. Güner, B. A., Malmendier, U., & Tate, G. (2008). Financial expertise of directors. Journal of Financial Economics, 88(2), 323–354. Goodwin‐Stewart, J., & Kent, P. (2006). Relation between external audit fees, audit committee characteristics and internal audit. Accounting & Finance, 46(3), 387-404. Gul, F. A., & Tsui, J. S. (2001). Free cash flow, debt monitoring, and audit pricing: Further evidence on the role of director equity ownership. Auditing: A Journal of Practice & Theory, 20(2), 71-84. Gul, FA. (2003). Financial crisis, cronyism and audit risk in Malaysia: some evidence from audit pricing: Working paper, City University of Hong Kong. Gul, F. A., Srinidhi, B., & Tsui, J. S. (2008). Board diversity and the demand for higher audit effort. Available at SSRN 1359450. Gul, F. A., Tsui, J. S. L., & Chen, C. J. P. (1998). Agency Costs and Audit Pricing: Evidence on Discretionary Accruals (Working Paper). Gul, F.A., Srinidhi, B., and Tsui, J. (2007) Do female directors enhance corporate board monitoring? Some evidence from earnings quality, SSRN. Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics, (5th ed.) New York: The McGraw-Hill Companies Inc. Habbash, M. (2010). The effectiveness of corporate governance and external audit on constraining earnings management practice in the UK (Doctoral dissertation, Durham University). Haniffa, R. M., & Cooke, T. E. (2002). Culture, corporate governance and disclosure in Malaysian corporations. Abacus, 38(3), 317-349. Haniffa, Ros, Yatim, Puan, Kent, Pamela, & Clarkson, Peter. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757-782. Herdhayinta. H. (2014). The influence of board diversity on financial performance: an empirical study of Asia-Pacific companies. Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Latham, R. (2010). Multivariate data analysis (7th ed). New Jersey: Pearson. Hay, D. C., Knechel, W. R., & Wong, N. (2006). Audit Fees: A Meta‐analysis of the Effect of Supply and Demand Attributes. Contemporary accounting research, 23(1), 141-191. Hay, D., Knechel, W. R., & Ling, H. (2008). Evidence on the Impact of Internal Control and Corporate Governance on Audit Fees. International Journal of Auditing, 12(1), 9–24. http://doi.org/10.1111/j.1099-1123.2008.00367 Hillman, A. J., & Dalziel, T. (2003). Boards of directors and firm performance: Integrating agency and resource dependence perspectives. Academy of Management review, 28(3), 383-396. Huang, T. C., Huang, H. W., & Lee, C. C. (2014). Corporate executive’s gender and audit fees. Managerial Auditing Journal, 29(6), 527-547. Ingley, C. B., & Van der Walt, N. T. (2003). Board configuration: building better boards. Corporate Governance: The international journal of business in society, 3(4), 5-17. Ittonen, K., & Peni, E. (2012). Auditor's gender and audit fees. International Journal of Auditing, 16(1), 1-18. Ittonen. K. (2010). A theoretical examination of the role of auditing and the relevance of audit reports. Vaasan Yliopisto, opetusjulkaisuja, 61. Ittonen. K. M. J & Vähämaa, S (2010). Does female representation on audit committees affect audit fees? Quarterly Journal of Finance and Accounting, 113-139. Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of financial economics, 3(4), 305-360. Judge, G. G., Hill, R. C., Griffiths, W., Lutkepohl, H., & Lee, T. C. (1982). Introduction to the theory and practice of econometrics. New York: John Wiley & Sons. Jenkins, D. S., Kane, G. D., & Velury, U. (2006). Earnings quality decline and the effect of industry specialist auditors: An analysis of the late 1990s. Journal of Accounting and Public Policy, 25,90-71. Johl, S., Subramaniam, N., & Zain, M. M. (2012). Audit committee and CEO ethnicity and audit fees: some Malaysian evidence. The International Journal of Accounting, 47(3), 302-332. Jubb, C. A., Houghton, K. A., & Butterworth, S. (1996). Audit fee determinants: the plural nature of risk. Managerial Auditing Journal, 11(3), 25-40. Julizaerma, M. K., & Sori, Z. M. (2012). Gender diversity in the boardroom and firm performance of Malaysian public listed companies. Procedia-Social and Behavioral Sciences, 65, 1077-1085. Jungmann, C. (2006). The effectiveness of corporate governance in one-tier and two-tier board systems–Evidence from the UK and Germany–. European Company and Financial Law Review, 3(4), 426-474. Jianakoplos, N., & Bernasek, A. (1998). Are Women More Risk Averse. Economic Inquiry, 10(4), 307–324. http://doi.org/10.1111/j.1465-7295.1998.tb01740. Kadushin, A. (1976). Men in a woman's profession. Social Work, 21(6), 440-447. Kanter, R. M. (1977). Some effects of proportions on group life: Skewed sex ratios and responses to token women. American journal of Sociology, 965-990. Kazmier, L.J. (1996). Schaum’s Outline of Theory and Problems of Business Statistics: Schaum’s Outline Series. New York: McGraw-Hill. Kao, M. C., & Chiu, B. H. (2013). Compare the effect of Sarbanes-Oxley on audit pricing: application of partial adjustment model. International Journal of Critical Accounting, 5(5), 469-484. Kang. H. C. M. & Gray.S. (2007). Corporate governance and board composition: Diversity and independence of Australian boards. Corporate Governance: An International Review, 15(2), 194-207. Kor, Y. Y., & Sundaramurthy, C. (2009). Experience-Based Human Capital and Social Capital of Outside Directors. Journal of Management, 35(4), 981. http://doi.org/10.1177/0149206308321551. Kim, H., & Lim, C. (2010). Diversity, outside directors and firm valuation: Korean evidence. Journal of Business Research, 63(3), 284-291. Kramer, V. W., Konrad, A. M., Erkut, S., & Hooper, M. J. (2006). Critical mass on corporate boards: Why three or more women enhance governance (pp. 2-4). Boston: Wellesley Centers for Women. Konrad, A. M., Kramer, V., & Erkut, S. (2008). Critical mass: the impact of three or more women on corporate boards. Oranizational Dynamics, 37(2), 145-164. Krishnan, H. A., & Park, D. (2005). A few good women—on top management teams. Journal of Business Research, 58(12), 1712-1720. Kuang, X. (2011). Board characteristics and higher audit quality—Evidence from Chinsese listed companies. In Management Science and Industrial Engineering (MSIE), 2011 International Conference on (pp. 348-352). IEEE. Kuang, X. W., & Chen, J. (2011). Gender diversity, management control, and auditing demands. Nankai Business Review, 14(6), 48-56. kilgore, A., Radich, R., & Harrison, G. (2011). The relative importance of audit quality attributes. Australian Accounting Review, 21(3), 253-265. Krishnan, G.V. and Parsons, L.M. (2008) Getting to the bottom line: An exploration of gender and earnings quality, Journal of Business Ethics, 78, 65-76. Laing, D., & Weir, C. M. (1999). Governance structures, size and corporate performance in UK firms. Management Decision, 37(5), 457-464. Lanfranconi, C., & Robertson, D. (2002). Corporate financial reporting: The role of the board of directors. Ivey Business Journal, 67(1), 1-3. Laws, J. L. (1975). The psychology of tokenism: An analysis. Sex roles, 1(1), 51-67. Lifschutz, S., Jacobi, A., & Feldshtein, S. (2010). Corporate governance characteristics and external audit fees: a study of large public companies in Israel. International Journal of Business and Management, 5(3), 109. Lim, S., Matolcsy, Z., & Chow, D. (2007). The association between board composition and different types of voluntary disclosure. European Accounting Review, 16(3), 555-583. Lorber, J. (1984). Women physicians: Careers, status, and power (Vol. 281): Routledge Kegan & Paul. Lorber, J. (1991). Can women physicians ever be true equals in the American medical profession. Current Research on Occupations and Professions, 6, 25-37. Low, L. C., Tan, P. H. N., & Koh, H. C. (1990). The determination of audit fees: An analysis in the Singapore context. Journal of Business Finance & Accounting, 17(2), 285-295. Lückerath-Rovers, M. (2013). Women on boards and firm performance. Journal of Management & Governance, 17(2), 491-509. Laws, J. L. (1975). The psychology of tokenism: An analysis. Sex roles, 1(1), 51-67. Miller, T., & del Carmen Triana, M. (2009). Demographic diversity in the boardroom: Mediators of the board diversity–firm performance relationship. Journal of Management studies, 46(5), 755-786. Milliken, F. J., & Martins, L. L. (1996). Searching for common threads: Understanding the multiple effects of diversity in organizational groups. Academy of management review, 21(2), 402-433. Muniandy, B. (2007). CEO duality, audit committee effectiveness and audit risks. Managerial Auditing Journal, 22(7), 716-728. Mitnick, B. M. (2006). Origin of the theory of agency: an account by one of the theory's originators. Unpublished professor’s thesis, University of Pittsburgh, Pittsburgh, Pennsylvania, United States. Mohamad, N. R., Abdullah, S., Zulkifli Mokhtar, M., & Kamil, N. F. B. (2011). The effects of board independence, board diversity and corporate social responsibility on earnings management. Paper presented at the Finance and Corporate Governance Conference. Mansouri, A., Pirayesh, R., & Salehi, M. (2009). Audit Competence and Audit Quality: Case in Emerging Economy. International Journal of Business and Management, 4, P17. http://doi.org/10.5539/ijbm.v4n2P17. Marimuthu, M., & Kolandaisamy, I. (2009). Ethnic and gender diversity in boards of directors and their relevance to financial performance of Malaysian companies. Journal of Sustainable Development, 2(3), 139. McKinsey, Company. (2007). Women Matter: Gender Diversity, a Corporate Performance Driver: McKinsey Paris. Nor, H. M., Saleh, N. M., Jaffar, R., & Shukor, Z. A. (2010). Corporate governance and R&D reporting in Malaysian MESDAQ market. International Journal of Economics and Management, 4(2), 350-372. Naser, K., & Nuseibeh, R. (2008). Determinants of audit fees: empirical evidence from an emerging economy. International Journal of Commerce and Management, 17(3), 239-254. Nguyen, H., & Faff, R. (2006). impact of board size and board diversity on firm value: Australian evidence. Corporate Ownership and Control, 4(2 A), 53–68. Nor. M. N. M. & Abidin.S (2015). The structure of Malaysian audit market: From 2008 to 2010. International Conference on Business, Economics and Accounting. Ott, E. M. (1989). Effects of the male‐female ratio at work. Psychology of Women Quarterly, 13(1), 41-57. Oxelheim, L., Randøy, T., & Thomsen, S. (2006). A Nordic perspective on corporate board diversity. Nordic Innovation Centre. O'Reilly. C & Main, B. GM. (2012). Women in the boardroom: symbols or substance? Stanford Graduate School of Business Research Paper No. 2098 Pearce, J. A., & Zahra, S. A. (1992). Board composition from a strategic contingency perspective. Journal of management studies, 29(4), 411-438. Pelled, L. H. (1996). Demographic diversity, conflict, and work group outcomes: An intervening process theory. Organization science, 7(6), 615-631. Peni,E.& Vähämaa, S. (2010). Femal executives and earnings management. Managerial Finance, 36(7), 629-645. Pfeffer, J., & Salancik, G. R. (1978). The external control of organizations: A resource dependence approach. NY: Harper and Row Publishers. Puan, Y., Pamela, K., & Peter, C. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757-782. doi: 10.1108/02686900610680530. Powell, M., & Ansic, D. (1997). Gender Differences in Risk Behaviour in Financial Decision-Making: An Experimental Analysis. Journal of Economic Psychology, 18, 605–628. http://doi.org/10.1016/S0167-4870(97)00026-3. Randy Evans, W., & Carson, C. M. (2005). A social capital explanation of the relationship between functional diversity and group performance. Team Performance Management: An International Journal, 11(7/8), 302-315. Rasmussen, S. J., & Schmidt, J. J. (2012, April). Auditing the audit committee: A study of shareholders’ and boards’ efforts to hold audit committee members accountable. In Presented at the Deloitte Foundation/University of Kansas Auditing Symposium. Ramli, J. A., & Esa, E. (2012). Examining the effect of board characteristics towards the directors’ remuneration disclosure: compliance to the green book by Malaysian Government-Linked Companies’ in Proceedings of the International Conference On Management. Economics And Finance (ICMEF 2012), 15th-16th October. Raghunandan. K & Rama, D. V. (2007). Determinants of audit committee diligence. Accounting Horizons, 21(3), 265-279. Reskin, B. F., & Ross, C. E. (1992). Jobs, authority, and earnings among managers the continuing significance of sex. Work and Occupations, 19(4), 342-365. Rosener, J. B. (1997). America's competitive secret: Women managers. Oxford University Press on Demand. Rose, C. (2007). Does female board representation influence firm performance? The Danish evidence. Corporate Governance: An International Review, 15(2), 404-413. Ross, A., & Crossan, K. (2012). A review of the influence of corporate governance on the banking crises in the United Kingdom and Germany .Corporate Governance: The international journal of business in society,12(2), 215-225. Robu, I. B., Chersan, I. C., Mironiuc, M., & Carp, M. (2012). Empirical study on the assessment of the auditor's responsibility regarding the risk of financial fraud. Communications of the IBIMA, 2012, 1-17. Ruigrok, W., Peck, S., & Tacheva, S. (2007). Nationality and gender diversity on Swiss corporate boards. Corporate Governance: An International Review, 15(4), 546-557. Rustad, M. (1982). Women in khaki: The American enlisted woman: Praeger Pub Text. Seifert, K. (1973). Some Problems of Men in Child Care Center Work. Child Welfare, 52(3). Shamser, M., & Annuar, M. N. (1993). Management versus shareholders’ interest: Board composition, market risk and shareholder returns of Malaysian listed firms. Malaysian Management Review, 29, 44-52. Shafique, Y., Idress, S., & Yousaf, H. (2014). Impact of boards gender diversity on firms profitability: Evidence from banking sector of Pakistan. European Journal of Business and Management, 6, 296-307. Stevenson, J. F., & Mauseth, J. D. (2004). Effects of environment on vessel characters in cactus wood. International Journal of Plant Sciences, 165(3), 347-357. Srinidhi, Bin, Gul, Ferdinand A, & Tsui, Judy. (2011). Female Directors and Earnings Quality. Contemporary Accounting Research, 28(5), 1610-1644. Sullivan, N. O. (2000). the Impact of Board Composition and Ownership on Audit Quality : Evidence From Large Uk Companies. British Accounting Review, 44(April 1999), 397–414. http://doi.org/10.1006/bare.2000.0139. Sun, J. L. G & Lan, G. (2011). Does female directorship on independent audit committees constrain earnings management? Journal of Business Ethics, 99(3), 369-382 Shapiro, I. S. (1979). Power and accountability: The changing role of the corporate board of directors. Pittsburgh, Pa.: Carnegie-Mellon University Press; New York. Shoobridge, G. E., & Mohr, A. T. (2006). Ethnic diversity and export performance of SMEs. Bradford: Bradford University School of Management. Shrader, C. B., Blackburn, V. B., & Iles, P. (1997). Women in management and firm financial performance: An exploratory study. Journal of managerial issues, 355-372. Shukeri, S. N., Shin, O. W., & Shaari, M. S. (2012). Does board of director's characteristics affect firm performance? Evidence from Malaysian public listed companies. International Business Research, 5(9), 120. Subramaniam, .R. D. S & Marimuthu, M. (2011). Investment opportunity set and dividend policy in Malaysia. African Journal of Business Management, 5(24), 10128. Srinidhi, Bin, Gul, Ferdinand A, & Tsui, Judy. (2011). Female Directors and Earnings Quality*. . Contemporary Accounting Research, 28(5), 1610-1644 Simon, D. T., & Francis, J. R. (1988). The effects of auditor change on audit fees: Tests of price cutting and price recovery. Accounting Review, 255-269. Simons, T., Pelled, L. H., & Smith, K. A. (1999). Making use of difference: Diversity, debate, and decision comprehensiveness in top management teams. Academy of management journal, 42(6), 662-673. Simunic, D. A. (1980). The pricing of audit services: Theory and evidence. Journal of accounting research, 161-190 Soyemi, K. A., & Olowookere, J. K. (2013). Determinants of external audit fees: Evidence from the banking sector in Nigeria. Research. Journal of Finance and Accounting, 4(15), 50-58. Staubo, S. (2010). Do female directors increase board independence? Norwegian School of Management. Smith, N., Smith, V., & Verner, M. (2006). Do women in top management affect firm performance? A panel study of 2,500 Danish firms. International Journal of Productivity and Performance Management, 55(7), 569-593. South, S. J., Bonjean, C. M., Markham, W. T., & Corder, J. (1982). Social structure and intergroup interaction: Men and women of the federal bureaucracy. American Sociological Review, 587-599. Stewart, J., & Munro, L. (2007). The impact of audit committee existence and audit committee meeting frequency on the external audit: Perceptions of Australian auditors. International Journal of Auditing, 11(1), 51-69. Terjesen, S., Sealy, R., & Singh, V. (2009). Women directors on corporate boards: A review and research agenda. Corporate governance: an international review, 17(3), 320-337. Thiruvadi, S. (2012). Gender differences and audit committee diligence .Gender in Management: An International Journal, 27(6), 366-379. Thiruvadi, S., & Huang, H. W. (2011). Audit committee gender differences and earnings management. Gender in Management: An International Journal,26(7), 483-498. Tsui, J. (2015). Board Gender Diversity, Audit Fees and Auditor Choice. Race, Gender and Society, Institute of New Economic Thinking. Ujunwa, A., Okoyeuzu, C., & Nwakoby, I. (2012). Corporate board diversity and firm performance: Evidence from Nigeria. Revista de Management Comparat International, 13(4), 605. Van der Walt, N., Ingley, C., Shergill, G. S., & Townsend, A. (2006). Board configuration: are diverse boards better boards?. Corporate Governance: The international journal of business in society, 6(2), 129-147. Van Ees, H., Postma, T. J., & Sterken, E. (2003). Board characteristics and corporate performance in the Netherlands. Eastern Economic Journal, 29(1), 41-58. Wang, B. L. P. (2006). Board Characteristics and Ratios of Audit Fee to Asset [J]. China Accounting Review, 1, 008. Wang, Y., & Clift, B. (2009). Is there a “business case” for board diversity ?.Pacific Accounting Review, 21(2), 88-103. Wanous, J. P., & Youtz, M. A. (1986). Solution diversity and the quality of groups decisions. Academy of Management Journal, 29(1), 149-159. Weir, C., & Laing, D. (2001). Governance structures, director independence and corporate performance in the UK. European Business Review, 13(2), 86-95. Weir, C., Laing, D., & McKnight, P. J. (2002). Internal and external governance mechanisms: Their impact on the performance of large UK public companies. Journal of Business Finance & Accounting, 29(5‐6), 579-611. Wellalage, N. H., Locke, S., & Scrimgeour, F. (2012). The global financial crisis impact on ethnic diversity of Sri Lanka boards. Asian Journal of Finance & Accounting, 4(1), 52. Whisenant, S., Sankaraguruswamy, S., & Raghunandan, K. (2003). Evidence on the joint determination of audit and non‐audit fees. Journal of Accounting Research, 41(4), 721-744. Wilson Jr, T. E. (2014). Gender board diversity: further evidence on women in corporate governance. Journal of Finance and Accountancy, 16, 1. Xiang, R., Qin, M., & Peterson, C. A. (2015). Gender Diversity of Audit Committees and Audit Fees: Evidence from Chinese Listed Companies. Asian Journal of Finance & Accounting, 7(2), 239-254. Xie, B., Davidson, W. N., & DaDalt, P. J. (2003). Earnings management and corporate governance: the role of the board and the audit committee. Journal of corporate finance, 9(3), 295-316. XU, J. Z. Y. (2005). The Determinants of Audit Fees: Evidence From the China's Listed Companies in 2001—2003 [J]. China Accounting Review, 1, 006. Yatim, P., Kent, P., & Clarkson, P. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757-782. Yoder, J. D. (1991). Rethinking tokenism: Looking beyond numbers. Gender & Society, 5(2), 178-192. Yoder, J. D., Adams, J., & Prince, H. T. (1983). The price of a token. JPMS, Journal of Political and Military Sociology, 11(2), 325. Yoder, J. D., Schleicher, T. L., & McDonald, T. W. (1998). Empowering Token Women Leaders The Importance of Organizationally Legitimated Credibility .Psychology of Women Quarterly, 22(2), 209-222. Yunos, R. M., Smith, M., Ismail, Z., & Ahmad, S. A. (2011). Inside concentrated owners, board of directors and accounting conservatism .Annual Summit on Business and Entrepreneurial Studies. Proceeding. Yusoff, W. F. W. (2010). Characteristics of boards of directors and board effectiveness: a study of Malaysian public listed companies (Doctoral dissertation, Victoria University). Yaacob, N. M., & Che-Ahmad, A. (2012). Adoption of FRS 138 and Audit Delay in Malaysia. International Journal of Economics and Finance, 4(1), 167–176. http://doi.org/10.5539/ijef.v4n1p167. Zahra, S. A., & Pearce, J. A. (1989). Boards of directors and corporate financial performance: A review and integrative model. Journal of management, 15(2), 291-334. Zainal, D., Zulkifli, N., & Saleh, Z. (2013). Corporate board diversity in Malaysia: A longitudinal analysis of gender and nationality diversity. International Journal of Academic Research in Accounting, Finance and Management Sciences, 3(1), 136-148. Zhang, M., & Zhang, Q. F. (2005). Ownership structure, auditor choice and audit pricing: evidences from Chinese securities market. Accounting and Finance, 1. Zimmer, L. (1988). Tokenism and women in the workplace: The limits of genderneutral theory. Social problems, 35(1), 64-77.

Women directors and audit fees: Empirical evidence from Malaysia

Similar Items