Audit Committee Characteristics and Cost of Equity Capital

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Saadatmand Roshanak; ALAVI SEYED MOSTAFA

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Journal: Journal of Empirical Research in Accounting Year:2019 | Volume:8 | Issue:3 (31) Page(s): 233-252

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Information Journal Paper

Title

Audit Committee Characteristics and Cost of Equity Capital

Author(s)

Saadatmand Roshanak | ALAVI SEYED MOSTAFA | Issue Writer Certificate

Keywords

Audit CommitteeQ1

Cost of Equity CapitalQ2

Corporate GovernanceQ1

Abstract

Financing and determining the proper structure of capital is one of the most important duties of firms in order to maximize the firm value by minimizing the cost of capital. Several factors, including Corporate Governance, affect a firm's risk which in turn affects the cost of capital. The Audit Committee, as one of the most important elements of Corporate Governance, has a significant role in improving financial reporting and risk management. This study is aimed to investigate the relation between some characteristics of the Audit Committees and the Cost of Equity Capital in 97 firms listed in Tehran Stock Exchange and OTC of Iran during the period from 2012 to 2017. Results of the research hypotheses test show that there is a significant negative relation between the Audit Committee size and the Cost of Equity Capital. In other words, firms with more committee members have less Cost of Equity Capital. Findings also show that there is no significant relation between the financial expertise of the Audit Committee members and the Cost of Equity Capital. In addition, there is a significant negative relation between the firm size and the cost of capital. In other words, top large firms have less Cost of Equity Capital.

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APA: Copy

Saadatmand, Roshanak, & ALAVI, SEYED MOSTAFA. (2019). Audit Committee Characteristics and Cost of Equity Capital. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, 8(3 (31) ), 233-252. SID. https://sid.ir/paper/241140/en

Vancouver: Copy

Saadatmand Roshanak, ALAVI SEYED MOSTAFA. Audit Committee Characteristics and Cost of Equity Capital. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING[Internet]. 2019;8(3 (31) ):233-252. Available from: https://sid.ir/paper/241140/en

IEEE: Copy

Roshanak Saadatmand, and SEYED MOSTAFA ALAVI, “Audit Committee Characteristics and Cost of Equity Capital,” JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, vol. 8, no. 3 (31) , pp. 233–252, 2019, [Online]. Available: https://sid.ir/paper/241140/en

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