Based on detailed data on the attendance of audit committee independent directors at board meetings of A-share listed companies from 2010 to 2022,this paper examines the factors influencing the on-site attendance of audit committee independent directors and the economic consequences.The study finds that independent directors who are older,have an academic background,base in the same location as the company headquarters,serve as conveners,hold fewer concurrent positions,and have lower levels of busyness are more likely to attend meetings in person.The more attention paid by audit committee independent directors to on-site attendance,the higher the quality of internal controls and the timelier the annual report disclosures.Further analysis reveals that the audit committee-accounting firm interlocking and regional auditing expertise can enhance the positive effects of independent directors'on-site attendance.The emphasis on in-person participation by the audit committee convener helps mitigate delays in financial disclosures.The higher the frequency of on-site attendance by independent directors,the lower the likelihood of the company receiving negative disclosure evaluation results,the lower the degree of information asymmetry,and the lower the probability of financial misconduct.Meanwhile,this study suggests that the proliferation of virtual meetings may inflate attendance rates of independent directors and create a false appearance of diligence,which provides references for deepening the understanding of the reform measures of the independent director system in China.
independent directorsnew regulation on independent directorsaudit committeeon-site attendancetimeliness of accounting informationinternal control
国家科技期刊平台
NSTL
万方数据
