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    Monitoring by busy and overlap directors: an examination of executive remuneration and financial reporting quality

    Access Status
    Fulltext not available
    Authors
    Fernández Méndez, C.
    Arrondo García, R.
    Pathan, Md Shams Tabrize
    Date
    2017
    Type
    Journal Article
    
    Metadata
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    Citation
    Fernández Méndez, C. and Arrondo García, R. and Pathan, S. 2017. Monitoring by busy and overlap directors: an examination of executive remuneration and financial reporting quality. Revista Espanola de Financiacion y Contabilidad. 46 (1): pp. 28-62.
    Source Title
    Revista Espanola de Financiacion y Contabilidad
    DOI
    10.1080/02102412.2016.1250345
    ISSN
    0210-2412
    Faculty
    Faculty of Business and Law
    School
    School of Economics, Finance and Property
    URI
    http://hdl.handle.net/20.500.11937/76640
    Collection
    • Curtin Research Publications
    Abstract

    © 2016 Asociación Española de Contabilidad y Administración de Empresas (AECA). We examine the influence of multiple board directorships and boards’ committee memberships on three board supervisory outcomes: executive remuneration, external auditor opinion, and earnings management. The study uses a panel of 122 non-financial companies listed on the Spanish Stock Exchange over the period 2004–2011. Our results show that firms with busy directors offer low executive remuneration and present a low probability of a qualified audit opinion. Furthermore, the results indicate that firms with overlap directors exhibit a higher probability of receiving a qualified audit opinion. Additionally, we find evidence that the overcommitment effects of busy and overlap directors are more evident for large firms. Overall, our findings suggest that busy (overlap) directors are beneficial (detrimental) to the monitoring capability of the board in the Spanish context.

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