Monitoring Function of the Board and Audit Fees: Contingent upon Ownership Concentration

Richard Bozec & Mohamed Dia
Board independence is considered as a key corporate governance mechanism to help preserve the necessary checks and balances between the board and executive management. Request for external audit services falls into the realm of board strategic decisions. To test the monitoring function of the board, the objective of this paper is to revisit the board independence-audit fees relationship while taking into account the ownership structure of the firm. Two effects are unfolding along the ownership...
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