Market reaction to Audit Committee director departures: Evidence from the post-SOX period

Abstract : Although the Audit Committee is a key component of corporate governance, very few studies have analyzed the market reaction to the departure of an Audit Committee Director. In this paper, we study the market reaction to 90 Audit Committee Director departures between 2004 and 2014. We find no significant market reaction at either the time of a non co-opted directors' departure or at the time of a financial expert directors' departure. Conversely, we show a significant positive market reaction at the announcement of a female Audit Committee member's departure, but no significant market reaction to the announcement of a male Audit Committee member's departure.
Type de document :
Article dans une revue
Economics Bulletin, Economics Bulletin, 2016, 36 (3), pp.1267-1274
Liste complète des métadonnées

Littérature citée [17 références]  Voir  Masquer  Télécharger

http://hal-audencia.archives-ouvertes.fr/hal-01343678
Contributeur : Etienne Redor <>
Soumis le : samedi 9 juillet 2016 - 02:36:48
Dernière modification le : vendredi 28 octobre 2016 - 15:09:50
Document(s) archivé(s) le : lundi 10 octobre 2016 - 10:27:59

Fichier

EB-16-V36-I3-P124.pdf
Fichiers produits par l'(les) auteur(s)

Identifiants

  • HAL Id : hal-01343678, version 1

Collections

Citation

Etienne Redor. Market reaction to Audit Committee director departures: Evidence from the post-SOX period. Economics Bulletin, Economics Bulletin, 2016, 36 (3), pp.1267-1274. 〈hal-01343678〉

Partager

Métriques

Consultations de la notice

113

Téléchargements de fichiers

269