The impact of corporate governance mechanism : audit committee financial experts on firm value from the perspective of the financial reporting process : evidence from US, UK and Germany

• Main Author: Musa, Mohamed
• Other Authors: Rodgers, Waymond
• Published: University of Hull 2016
• Subjects: 658.15; Business
• Online Access: https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.717060

This PhD thesis contains four main essays on financial health and firm value, with a focus on the term board structure – unitary and dual. With the exception of Chapter 1 and Chapter 6, which set out the general introduction and conclusion, each of the chapters can be considered as a standalone piece of work. In Chapter 2, we model and predict, using FTSE100 and Nasdaq100 sample data, the impact of audit committee financial experts on firm value. Model dimensions and parameters were conducted over a period of five years and allowed to change to four years, so as to ascertain lag effects. The proposed financial expert decision - making model (Throughput Model) allows us to estimate these influences. Hence, we find mixed results. Chapter 3 investigates ethical consideration influences on the role of United States, United Kingdom and German audit committees. Simultaneously, we empirically test whether financial experts may influence firm value in German Dax100 firms using the preference –based pathway. Our empirical results suggest that accounting experts exerts significant influence on firm value. Chapter 4 examines the impact of regulations on the performance of Nasdaq100 firms in the US. Our result suggest that the Sarbanes – Oxley Act has indeed changed the dynamics of business structure and improved monitoring. We find evidence of a positive significant influence of supervisory financial expert on financial health but accounting experts, negative.