Board Subcommittees: If Not, Why Not?

Tek Lama

Accounting and Finance Research, 2014, vol. 3, issue 3, 117

Abstract: This study examines factors that may influence a company’s decision to comply or (depart) from certain ASX recommended governance of best practice under the ASXCGC’s ‘if not, why not’ corporate governance framework. In particular, it investigates 2 recommended practices relating to the board subcommittees and whether any particular factors determine a company’s decision to comply with those practices. The investigation of 268 Australian Stock Exchange (ASX) listed companies using panel data between 2004 and 2007 provides statistically convincing evidence that certain factors are likely to influence the company’s responses with respect to board subcommittee related best practices. This finding is consistent with the underlying philosophy of the ‘if not, why not’ corporate governance framework and generally accepted view that when it comes to corporate governance; one-size-does-not-fit-all.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:afr111:v:3:y:2014:i:3:p:117

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