The Impact of Audit Committee and Shareholder Activism on the Association between Audit-Firm Tenure and Accounting Conservatism
Bibliographic record
Abstract
The objective of this study is to (1) re-examine the association between accounting conservatism and audit-firm tenure, (2) investigate the influences of audit committee characteristics on the association between accounting conservatism and audit-firm tenure, and (3) examine the impact of shareholder activism on the association between audit-firm tenure and accounting conservatism. Using two proxies for accounting conservatism (accrual-based and market-based measures), we find a negative relation between accounting conservatism and audit-firm tenure. We also find that the association between accounting conservatism and audit-firm tenure is weakened in firms with more audit committee members being more than 65 years old and higher level of shareholder activism. The results indicate that firms can reduce the effect of long audit firm tenure when the firms have more experienced audit committee member and more shareholder activism. Our study extends the current literature on audit committee and shareholder activism. The current study is also of interest to firms, regulators, and investors.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.005 | 0.038 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.004 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".