Influence of the audit committee and its characteristics on information asymmetry in brazilian companies

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DOI:

https://doi.org/10.4025/enfoque.v39i1.44011

Abstract

The study aimed to analyze the influence of the audit committee and its characteristics of independence and expertise in the asymmetry of information in Brazilian companies. For that, we used descriptive, documentary and quantitative research. The survey population corresponded to the 100 companies listed in the IBRx100 index of B3 (Brazil, Bolsa e Balcão) during the period from 2012 to 2016. The results related to the influence of the audit committee on informational asymmetry were not statistically significant, suggesting that the existence of an audit committee alone was not able to minimize informational asymmetry. However, as the companies that had an audit committee and presented characteristics as independence and expertise, it was verified that the expertise was shown statistically significant and negatively related to the information asymmetry, which generates evidence that the existence of at least one member with expertise committee is able to minimize the informational asymmetry between managers and investors. Based on the results, it has contributed to the Brazilian scenario as a way to guide companies to adequately structure their audit committee, seeking members with financial expertise, in order to improve the quality of the committee in the fulfillment of its functions and in the reduction of informational asymmetry.

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Author Biographies

  • Daiani Schlup, Universidade Regional de Blumenau - FURB

    Mestranda no Programa de Pós-Graduação em Ciências Contábeis da FURB

  • Caroline Keidann Soschinski, Universidade Regional de Blumenau - FURB

    Mestranda no Programa de Pós-Graduação em Ciências Contábeis da FURB

  • Paulo Roberto da Cunha, Universidade Regional de Blumaneu - FURB

    Doutor em Ciências Contábeis e Administração. Professor no Programa de Pós Graduação em Ciências Contábeis - PPGCC

  • Alini da Silva, Universidade Regional de Blumenau - FURB

    Doutoranda em Ciências Contábeis e Administração Universidade Regional de Blumenau – FURB

2020-01-10

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Published

2019-12-26

Issue

Vol. 39 No. 1 (2020): Enf.: Ref. Cont.

Section

Original Articles

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How to Cite

Schlup, D., Soschinski, C. K., Cunha, P. R. da, & Silva, A. da. (2019). Influence of the audit committee and its characteristics on information asymmetry in brazilian companies . Enfoque: Reflexão Contábil, 39(1), 41-55. https://doi.org/10.4025/enfoque.v39i1.44011