为了活跃厦门大学会计学科的学术研究氛围，激发既有教师与在校研究生的学术研究热情和积极性，促进教师之间、教师与研究生之间、研究生彼此之间的深入交流、思想碰撞与知识分享，我们组织了由厦门大学会计学科的常任教师、博(硕)士研究生、国际访问学者等作为报告人的系列Seminar。该Seminar将冠以“厦门大学会计学科教师与研究生系列Seminar”的总标题，从2017年3月14日起，每周周二/周五下午15:00-17:30举行。该Seminar与已有的“财务、会计Seminar”(主要聘请校外与境外的学者担任报告人) 相互补充，以期能够更好地推动厦门大学会计学科的学术发展。
题 目：Are Social Ties Really Undesirab-The Transition of CEO-Audit Committee Social Ties and Its Effect on Audit Committees' Oversight Quality
报告人：刘馨茗 助理教授
主持人：张国清 教授
时 间：2021年3月26日（星期五），15:00-17:30
地 点：嘉庚二208室
论文摘要：This study examines whether and how social ties between the CEOs and audit committees (AC) affect AC effectiveness over time. Based on a large dataset of U.S.-listed firms during 2004-2015, we document the following findings. First, we observe that CEO-AC social ties at the aggregate level have increased 5% during the sample period. At the individual level, employment ties have almost doubled from 10% in 2004 to 18% in 2015 while friendship ties and education ties remain relatively stable over time. Second, friendship ties adversely affect AC oversight quality (measured by discretionary accruals, audit fees, and likelihood of receiving going-concern opinion and internal control weakness report) in early post-SOX period (2004-2008). In recent years (2009-2015), the negative effect of friendship ties disappears and employment ties enhance AC oversight quality. These results are robust to controlling for endogeneity. The positive effect of employment ties on AC oversight quality is stronger when CEOs and ACs have prior working experience in the same industry, different gender, similar ages, and accounting expertise. Our empirical results bear important implications for regulators and investors.
