Publication:
Governance structure and external audit price: evidence from an emerging economy
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Date
2008
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Abstract
This study provides new evidence on the relationship between external audit price and corporate governance of the largest (based on market capitalization) 100 listed firms on both the main and second board of the Bursa Malaysia (BMB) (previously known as the Kuala Lumpur Stock Exchange). The findings show that for main board companies, external audit price is positively and significantly associated with corporate size, complexity and internal governance variable (i.e. director’s remuneration). For the second board firms, complexity, corporate size and internal governance variables (i.e. proportion of non-executive directors to total directors) were important determinants of external audit pricing. External audit price had a significant negative relationship with individual shareholders ownership for both main and second board companies, and companies’ age for companies listed on the second board.
Keywords
External audit fee , Corporate governance , Bursa Malaysia , Retail shareholdings , Corporate age , Firm size
Citation
Muhamad Sori, Zulkarnain and Ramadili Mohd, Shamsher Mohamad. (2008). Governance structure and external audit price: evidence from an emerging economy. International Journal of Economics and Management, 2 (2), pp. 259-279.
Publisher
UPM Press
DOI
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Person
Shamsher Mohamad Ramadili Mohd
shamsher@inceif.org
Director, BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management
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Person
Zulkarnain Muhamad Sori
zulkarnain@inceif.org
Deputy Director, BNP-Paribas-INCEIF Centre for Islamic Asset and Wealth Management