Monitoring by busy and overlap directorsan examination of executive remuneration and financial reporting quality

  1. Carlos Fernández Méndez 1
  2. Rubén Arrondo García 1
  3. Shams Pathan 2
  1. 1 Department of Business Administration, University of Oviedo
  2. 2 University of Queensland
    info

    University of Queensland

    Brisbane, Australia

    ROR https://ror.org/00rqy9422

Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2017

Volumen: 46

Número: 1

Páginas: 28-62

Tipo: Artículo

Otras publicaciones en: Revista española de financiación y contabilidad

Resumen

Analizamos el efecto de ocupar múltiples puestos en consejos de administración y en comités de dichos consejos sobre el resultado de tres actividades supervisoras del consejo: la remuneración de los ejecutivos, la opinión del auditor externo y la manipulación de los resultados empresariales. El estudio utiliza una muestra de 122 empresas no financieras cotizadas en el mercado español durante el periodo 2004–2011. Nuestros resultados muestran que las empresas que cuentan con consejeros altamente ocupados ofrecen baja remuneración a sus directivos y presentan una baja probabilidad de recibir una opinión calificada por parte del auditor externo. Encontramos además evidencia de que los efectos de la sobre ocupación de los consejeros con múltiples puestos en consejo y comités se hacen más evidentes en empresas grandes. En conjunto nuestros resultados sugieren que los consejeros con múltiples puestos en consejos (comités) resultan beneficiosos (perjudiciales) para la capacidad supervisora de los consejos en el contexto español.

Información de financiación

This work was supported by the Ministerio de Econom?a y Competitividad; [ECO2012-31772]; [SV-PA-13-ECOEMP-19]; [MINECO-16-ECO2015-66184-R].

Financiadores

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