Effectiveness Score of the Board of Directors and Modified Audit Opinion: Empirical Evidence from Malaysian Publicly-Listed Companies
The study investigates the association between the effectiveness of the board of directors and the likelihood that a company receives a modified audit opinion (as a measure of the quality of companies' external financial reporting) in Malaysia. The sample companies were extracted from the popul...
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Veröffentlicht in: | The Journal of Asian finance, economics, and business economics, and business, 2020-08, Vol.7 (8), p.289-296 |
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creator | OMER, Waddah Kamal Hassan ALJAAIDI, Khaled Salmen YUSOF, Mohd Atef Md |
description | The study investigates the association between the effectiveness of the board of directors and the likelihood that a company receives a modified audit opinion (as a measure of the quality of companies' external financial reporting) in Malaysia. The sample companies were extracted from the population of publicly-available information mainly the annual reports of publicly-listed companies on the Bursa Malaysia. 136 firm-year observations listed on Bursa Malaysia were identified to examine the relationship between the effectiveness of the board of directors and a modified audit opinion. Data used in this study are collected from two separate sources - annual reports and Datastream. Any missing financial figure from Datastream was acquired from the annual reports. To test the study's hypotheses, we use the pooled cross-sectional logistic regression analysis for 136 firm-year observations listed on Bursa Malaysia over the period 2009-2011. The evidence we have uncovered is consistent with the hypothesis that companies with large score of the board of directors' effectiveness are less possible to receive a modified audit opinion. Therefore, the result confirms that the combined effect of the board of directors' characteristics has a significant negative association with the likelihood of the companies receiving a modified audit opinion. |
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The sample companies were extracted from the population of publicly-available information mainly the annual reports of publicly-listed companies on the Bursa Malaysia. 136 firm-year observations listed on Bursa Malaysia were identified to examine the relationship between the effectiveness of the board of directors and a modified audit opinion. Data used in this study are collected from two separate sources - annual reports and Datastream. Any missing financial figure from Datastream was acquired from the annual reports. To test the study's hypotheses, we use the pooled cross-sectional logistic regression analysis for 136 firm-year observations listed on Bursa Malaysia over the period 2009-2011. The evidence we have uncovered is consistent with the hypothesis that companies with large score of the board of directors' effectiveness are less possible to receive a modified audit opinion. 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The sample companies were extracted from the population of publicly-available information mainly the annual reports of publicly-listed companies on the Bursa Malaysia. 136 firm-year observations listed on Bursa Malaysia were identified to examine the relationship between the effectiveness of the board of directors and a modified audit opinion. Data used in this study are collected from two separate sources - annual reports and Datastream. Any missing financial figure from Datastream was acquired from the annual reports. To test the study's hypotheses, we use the pooled cross-sectional logistic regression analysis for 136 firm-year observations listed on Bursa Malaysia over the period 2009-2011. The evidence we have uncovered is consistent with the hypothesis that companies with large score of the board of directors' effectiveness are less possible to receive a modified audit opinion. 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title | Effectiveness Score of the Board of Directors and Modified Audit Opinion: Empirical Evidence from Malaysian Publicly-Listed Companies |
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