earticle

영어

This study examines the association between the Corporate Governance Improvement and Audit Fee(Characteristics of Outside Director, Ownership Structure, Audit Committee). Characteristics of Outside Director are board independence defined as the percentage of outside director, board expertise defined as an board containing at least one outside director with financial expertise, board activity defined as the outsider board participation. Ownership Structure, major shareholder’s holding, small investor shareholder’s holding, other investors shareholder’s holding were analyzed. It is based on Annual reports of 2,290 companies (exclude Financial, Banking business) that are closed an Account in December and registered in Korea Exchange from 2004 to 2009. The data on independence of Outside Director, expertise of Outside Director, activity of Outside Director, Ownership Structure, Audit Committee variables are collected from DART of Financial Supervisory Service (FSS). Other firm-specific financial data is collected from Kis-Value database. Regression analysis that were included control variables to be found significant results in the most previous works is selected as an audit fee model. The empirical results are summarized as follows. First, empirical results suggest that independence of Outside Director are significantly and positively associated with Audit Fee. And expertise of Outside Director are significantly and positively associated with Audit Fee. This result management and independent directors within the board the more outside directors, such as a fiscal expert with more transparency of accounting information and corporate surveillance audit to fulfill the role expansion of the scope and quality of audit fees increased by the appointment of auditors to show that is. Second, analysis results suggest that small investor shareholder’s holding is significantly and positively associated with Audit Fee. Major stockholder relations with the containment and monitoring the small investors of corporate ownership and the higher the effective monitoring activities inside and outside the enterprise will require transparency in providing information and a transparent, forcing companies to operate in high-quality auditor or Audit scope was expanded due to increased audit fees are determined. This result is in line with the view that companies with small investor shareholder's holdings follow the shareholder playing the management monitoring roles. Third, analysis results suggest that audit committee establishment is significantly and positively associated with Audit Fee. Limitations of this study, first, outside the variables of the selected variables used in previous studies were used. Variables of outside directors on the compensation of outside directors to expand to add a variable may yield different results if it is expected that. In addition, the independence of outside directors in relation to executive directors, even if that business other than those shown on the report about the special relationship that was not possible to determine whether, professional accountant or an accountant for a range of specialist subjects included in the very narrow If you proceed with the study results and other results of this study suggest that there can be calculated. It is expected that this study can provide a number of additional information on the relationships between corporate governance and audit fee. Characteristics and audit committee of outside directors to expand the definition of the characteristics of outside directors and audit committee and audit fees paid by measuring the relevance to the study is expected to come true. Based on this study, considering the time difference t-1 t year by year effort to improve corporate governance impact on the audit fee is expected that the study is done.

한국어

최근 들어 회계정보의 신뢰성 및 투명성을 확보하기 위하여 기업지배구조 및 각종 제도의 도입과 개선을 하는 시점에서 경영자가 작성한 재무제표 등에 대하여 일반적으로 인정된 회계기준에 의하여 재무제표가 작성되었는지를 검증하는 감사인의 감사품질 및 감사인의 역할이 부각되고 있다. 따라서 본 연구에서는 감사품질의 대용치인 감사보수에 대하여 지배구조개선 변수들이 미치는 영향을 분석하고자 사외이사의 특성, 지분소유구조, 감사위원회 설치여부가 감사보수에 미치는 관련성을 분석하고자 한다. 사외이사의 특성은 독립성, 전문성, 활동성으로 구분하였고 지분소유구조는 대주주지분율, 소액투자자지분율, 기타투자자지분율로 구분하여 분석하였으며 연구기간은 2004년부터 2009년까지 상장법인 중 금융업을 제외한 12월 결산법인 2,290개 기업-연 자료를 이용하였으며 감사보수자료 및 사외이사 관련 자료는 금융감독원 전자공시시스템 상의 사업보고서와 주석사항을 참조하여 분석하였다. 분석결과 사외이사의 독립성, 전문성은 감사보수와 유의한 양(+)의 관련성이 있는 것으로 나타나 사외이사가 경영자와 독립적일수록, 사외이사 중 회계 등 전문성이 있는 자가 포함될수록 감사보수가 크다는 것을 나타낸다. 한편 지분소유구조 변수 중 소액투자자지분율만이 감사보수와 유의한 양(+)의 관련성이 나타났고, 감사위원회 설치여부 변수 또한 감사보수와 유의한 양(+)의 관련성이 나타났다.