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Shareholder Value Implications of the Internal Audit Function.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Shareholder Value Implications of the Internal Audit Function./
Author:	Liu, Bo.
Description:	1 online resource (61 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
Contained By:	Dissertation Abstracts International79-03A(E).
Subject:	Accounting. -
Online resource:	click for full text (PQDT)
ISBN:	9780355392548

Shareholder Value Implications of the Internal Audit Function.
Liu, Bo.

Shareholder Value Implications of the Internal Audit Function. - 1 online resource (61 pages)

Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

In 2013, NASDAQ Stock Market LLC (NASDAQ) issued a proposal to mandate the internal audit function (IAF) for all listed companies but later withdrew the proposal. In this study, I investigate whether a mandatory IAF adds shareholder value and how the value implications vary across companies. For companies that do not voluntarily adopt an IAF before the proposal, I document a positive (negative) price response to the NASDAQ IAF proposal filing (withdrawal). This evidence suggests that, on average, investors perceive a mandatory IAF as value enhancing. I also document that the market reactions are more positive for companies with more business segments or with lower institutional ownership. This evidence suggests that investors' perception of the mandatory IAF are more positive for companies with complex business or with weak corporate governance. In addition, I document the types of companies that are more likely to establish an IAF voluntarily.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355392548Subjects--Topical Terms:

561166
Accounting.
Index Terms--Genre/Form:

554714
Electronic books.

Shareholder Value Implications of the Internal Audit Function.
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245 1 0 $a Shareholder Value Implications of the Internal Audit Function.
264 0 $c 2017
300 $a 1 online resource (61 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
500 $a Adviser: William M. Cready.
502 $a Thesis (Ph.D.) $c The University of Texas at Dallas $d 2017.
504 $a Includes bibliographical references
520 $a In 2013, NASDAQ Stock Market LLC (NASDAQ) issued a proposal to mandate the internal audit function (IAF) for all listed companies but later withdrew the proposal. In this study, I investigate whether a mandatory IAF adds shareholder value and how the value implications vary across companies. For companies that do not voluntarily adopt an IAF before the proposal, I document a positive (negative) price response to the NASDAQ IAF proposal filing (withdrawal). This evidence suggests that, on average, investors perceive a mandatory IAF as value enhancing. I also document that the market reactions are more positive for companies with more business segments or with lower institutional ownership. This evidence suggests that investors' perception of the mandatory IAF are more positive for companies with complex business or with weak corporate governance. In addition, I document the types of companies that are more likely to establish an IAF voluntarily.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Accounting. $3 561166
655 7 $a Electronic books. $2 local $3 554714
690 $a 0272
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of Texas at Dallas. $b Management Science. $3 1181148
773 0 $t Dissertation Abstracts International $g 79-03A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10675233 $z click for full text (PQDT)