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1、外文翻译原文CorporateGovernanceandEarningsManagementMaterialSource:http://aaahq.org/audit/midyear/02midyear/papers/Governance-earnings-Mgt.pdfAuthor:SondaMarrakchiChtourou,JeanBedard,LucieCourteau3.TheRoleoftheBoardofDirectorsTheauditcommitteeisacommitteeof
2、theboardofdirectors.Itsresponsibilitytooverseethefinancialreportingprocessofthefirmisdelegatedtothecommitteebytheboard.Whileaneffectiveauditcommitteeiscrucialtoprovidingreliablefinancialreports,theboardofdirectorsalsoplaysanimportantrole.Thus,theBRC(1
3、999,p.6)statesthatthe"performanceofauditcommitteesmustbefoundedinthepracticesandattitudesoftheentireboardofdirectors".ThePublicOversightBoard(1995,p.3)"urgestheboardofdirectorstoplayanactiveroleinthefinancialreportingprocess."Theoriesregardingboardsof
4、directors,priorempiricalresearchandvariousrecommendationssuggestthatsomecharacteristicsoftheboardhaveaninfluenceonthequalityofthefinancialreportsasmeasuredbythelevelofearningsmanagement.Fourboardcharacteristicsareexaminedhere:size,independence,directo
5、rs'motivation,andcompetence.BoardsizeThenumberofdirectorsisanimportantfactorintheeffectivenessoftheboard(TSE1994).Unfortunately,theliteratureprovidesnoconsensusaboutthedirectionoftherelationshipbetweenboardsizeandeffectiveness.Ontheonehand,alargerboar
6、dislesslikelytofunctioneffectivelyandiseasierfortheCEOtocontrol(Jensen1993).Ontheotherhand,alargerboardprovidesbetterenvironmentallinksandmoreexpertise(Dalton,Daily,JohsonandEllstrand1999).Theevidenceregardingfinancialstatementreliabilityismixed.Beasl
7、ey(1996)findsapositiverelationshipbetweenboardsizeandthelikelihoodoffinancialstatementfraudwhereasAbbottetal.(2000)findnorelationshipbetweenthetwo.Becauseofthislackofconsensus,weexaminetherelationshipbetweenearningsmanagementandsizeoftheboardbutwedono
8、tpredictthedirectionoftheassociation.BoardindependenceAnimportantaspectofeffectivecorporategovernanceis"therecognitionthatthespecificinterestsoftheexecutivemanagementandthewiderinterestofthecompanymayattimesdiverge"(CadburyCommittee1992,p.21)a
