Date of this Version

12-1-2012

Document Type

Journal Article

Publication Details

Submitted version

Aldamen, H., Duncan, K., Kelly, S., McNamara, R. and Nagel, S. (2012), Audit committee characteristics and firm performance during the global financial crisis. Accounting & Finance, 52, 971–1000

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2012 HERDC submission. FoR code: 150101; 150303

© Copyright The Authors., Accounting and Finance., AFAANZ, 2011

ISSN

1467-629X

Abstract

We address the question ‘do governance enhancing audit committee (AC) characteristics mitigate the firm performance impact of significant-adverse-economic events such as the Global Financial Crisis (GFC)?’ Our analysis reveals that smaller audit committees with more experience and financial expertise are more likely to be associated with positive firm performance in the market. We also find that longer serving chairs of audit committees negatively impacts accounting performance. However, accounting performance is positively impacted where ACs include blockholder representation, the chair of the board, whose members have more external directorships and whose chair has more years of managerial experience. We contribute to the growing body of research on the impact of audit committee governance attributes on performance during times of financial distress.

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This document has been peer reviewed.

 

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