How Many Simultaneous Audit Committee Memberships Are Too Many?
Recent research by D. Sharma, V. Sharma, Tanyi, and Cheng (2020) provides new insight into directors serving on multiple public company audit committees. Specifically, they investigate how an individual audit committee director serving on multiple audit committees is related to companies' cost...
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| Veröffentlicht in: | Current issues in auditing 2022-03, Vol.16 (1), p.P9-P15 |
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| creator | Carmenate, Jimmy Crews, Cori O. Sharma, Vineeta D. Sparger, John R. |
| description | Recent research by D. Sharma, V. Sharma, Tanyi, and Cheng (2020) provides new insight into directors serving on multiple public company audit committees. Specifically, they investigate how an individual audit committee director serving on multiple audit committees is related to companies' cost of equity capital. Their evidence suggests that serving on multiple audit committees is viewed positively by investors up to a certain point, but beyond that point investors become concerned. This turning point, on average, is 3.5 audit committees for retired directors and 1.5 audit committees for directors in full-time employment. These results have implications for numerous stakeholders including investors, proxy advisors, boards, nominating committees, stock exchanges, and policymakers. They also have implications for future research. |
| doi_str_mv | 10.2308/CIIA-2021-009 |
| format | Article |
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| identifier | ISSN: 1936-1270 |
| ispartof | Current issues in auditing, 2022-03, Vol.16 (1), p.P9-P15 |
| issn | 1936-1270 1936-1270 |
| language | eng |
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| source | EBSCOhost Business Source Complete; EZB-FREE-00999 freely available EZB journals |
| subjects | Audit committees Auditing Boards of directors Investment advisors Investors Memberships Public companies |
| title | How Many Simultaneous Audit Committee Memberships Are Too Many? |
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