Abadie, A., & Imbens, G. W. 2006. Large sample properties of matching estimators for average treatment effects. Econometrica, 74(1): 235–267.
Agrawal, A., & Chadha, S. 2005. Corporate governance and accounting scandals. Journal of Law and Economics, 48(2): 371–406.
Ball, R., & Shivakumar, L. 2005. Earnings quality in UK private firms: Comparative loss recognition timeliness. Journal of Accounting and Economics, 39(1): 83–128.
Basu, S. 1997. The conservatism principle and the asymmetric timeliness of earnings. Journal of Accounting and Economics, 24(1): 3–37.
- Beasley, M. S., Carcello, J. V., Hermanson, D. R., & Lapides, P. D. 2000. Fraudulent financial reporting: Consideration of industry traits and corporate governance mechanisms. Accounting Horizons, 14(4): 441–454.
Paper not yet in RePEc: Add citation now
Beasley, M. S., Carcello, J. V., Hermanson, D. R., & Neal, T. L. 2009. The audit committee oversight process. Contemporary Accounting Research, 26(1): 65–122.
Bergstresser, D., & Philippon, T. 2006. CEO incentives and earnings management. Journal of Financial Economics, 80(3): 511–529.
- Boivie, S., Bednar, M. K., Aguilera, R. V., & Andrus, J. L. 2016. Are Boards Designed to Fail? The Implausibility of Effective Board Monitoring. Academy of Management Annals, 10(1): 319–407.
Paper not yet in RePEc: Add citation now
Brickley, J. A., & Zimmerman, J. L. 2010. Corporate governance myths: Comments on Armstrong, Guay, and Weber. Journal of Accounting and Economics, 50(2–3): 235–245.
- Campbell, J. L., Hansen, J., Simon, C. A., & Smith, J. L. 2015. Audit committee stock options and financial reporting quality after the Sarbanes-Oxley Act of 2002. Auditing, 34(2): 91–120.
Paper not yet in RePEc: Add citation now
- Carcello, J. V., & Neal, T. L. 2000. Audit committee composition and auditor reporting. Accounting Review, 75(4): 453–467.
Paper not yet in RePEc: Add citation now
Chiu, H. H., Oxelheim, L., Wihlborg, C., & Zhang, J. 2016. Macroeconomic fluctuations as sources of luck in CEO compensation. Journal of Business Ethics, 136(2): 371–384.
- Cohen, J. R., Hoitash, U., Krishnamoorthy, G., & Wright, A. M. 2014. The effect of audit committee industry expertise on monitoring the financial reporting process. Accounting Review, 89(1): 243–273.
Paper not yet in RePEc: Add citation now
- Dechow, P. M., & Dichev, I. D. 2002. The quality of accruals and earnings: The role of accrual estimation errors. Accounting Review, 77(SUPPL.): 35–59.
Paper not yet in RePEc: Add citation now
DeFond, M., Hung, M., & Trezevant, R. 2007. Investor protection and the information content of annual earnings announcements: International evidence. Journal of Accounting and Economics, 43(1): 37–67.
Dhaliwal, D., Naiker, V., & Navissi, F. 2010. The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees. Contemporary Accounting Research, 27(3): 787–827.
- Dou, Y., Hope, O. K., & Thomas, W. B. 2013. Relationship-specificity, contract enforceability, and income smoothing. Accounting Review, 88(5): 1629–1656.
Paper not yet in RePEc: Add citation now
- Drazanova, L. 2019. Historical Index of Ethnic Fractionalization Dataset (HIEF) - Harvard Dataverse. Harvard Dataverse.
Paper not yet in RePEc: Add citation now
Ecker, F., Francis, J., Olsson, P., & Schipper, K. 2013. Estimation sample selection for discretionary accruals models. Journal of Accounting and Economics, 56(2–3): 190–211.
Estélyi, K. S., & Nisar, T. M. 2016. Diverse boards: Why do firms get foreign nationals on their boards? Journal of Corporate Finance, 39: 174–192.
- Ettredge, M., Guo, F., & Li, Y. 2018. Trade secrets and cyber security breaches. Journal of Accounting and Public Policy, 37(6): 564–585.
Paper not yet in RePEc: Add citation now
- Forbes, D. P., & Milliken, F. J. 1999. Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups. Academy of Management Review, 24(3): 489– 505.
Paper not yet in RePEc: Add citation now
- Givoly, D., Hayn, C. K., & Katz, S. P. 2010. Does public ownership of equity improve earnings quality? Accounting Review, 85(1): 195–225.
Paper not yet in RePEc: Add citation now
Hillier, D., Pindado, J., De Queiroz, V., & La Torre, C. De. 2011. The impact of country-level corporate governance on research and development. Journal of International Business Studies, 42(1): 76–98.
Hooghiemstra, R., Hermes, N., Oxelheim, L., & Randøy, T. 2019. Strangers on the board: The impact of board internationalization on earnings management of Nordic firms. International Business Review, 28(1): 119–134.
- Hope, O. K., Thomas, W. B., & Vyas, D. 2013. Financial reporting quality of U.S. private and public firms. Accounting Review, 88(5): 1715–1742.
Paper not yet in RePEc: Add citation now
Huang, T., Wu, F., Yu, J., & Zhang, B. 2020. Investor protection and the value impact of stock liquidity. Journal of International Business Studies, 51(1): 72–94.
Jones, J. J. 1991. Earnings Management During Import Relief Investigations. Journal of Accounting Research, 29(2): 193.
Kassis, J. H. 2010. Multilingual Top Management Teams. Handbook of Top Management Teams: 421–427. http://link.springer.com/10.1057/9780230305335_49. Accessed 3 November 2019, . London: Palgrave Macmillan UK.
Kaufmann, D., Kraay, A., & Mastruzzi, M. 2004. Governance matters III: Governance indicators for 1996, 1998, 2000, and 2002. World Bank Economic Review, 18(2): 253–287.
- Kaufmann, D., Kraay, A., & Zoido, P. 2005. Aggregating governance indicators. SSRN Electronic Journal, doi:10.2139/ssrn.188548.
Paper not yet in RePEc: Add citation now
Klein, A. 2002. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics, 33(3): 375–400.
Kothari, S. P., Leone, A. J., & Wasley, C. E. 2005. Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39(1): 163–197.
- Krishnan, J., Wen, Y., & Zhao, W. 2011. Legal expertise on corporate audit committees and financial reporting quality. Accounting Review, 86(6): 2099–2130.
Paper not yet in RePEc: Add citation now
Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. 2016. Audit committees and financial reporting quality in singapore. Journal of Business Ethics, 139(1): 197–214.
Leksell, L., & Lindgren, U. 1982. The board of directors in foreign subsidiaries. Journal of International Business Studies, 13(1): 27–38.
Leuz, C., Nanda, D., & Wysocki, P. D. 2003. Earnings management and investor protection: An international comparison. Journal of Financial Economics, 69(3): 505–527.
Masulis, R. W., Wang, C., & Xie, F. 2012. Globalizing the boardroom-The effects of foreign directors on corporate governance and firm performance. Journal of Accounting and Economics, 53(3): 527–554.
- Maznevski, M. L. 1994. Understanding our differences: Performance in decision-making groups with diverse members. Human Relations, 47(5): 531–552.
Paper not yet in RePEc: Add citation now
Miletkov, M., Poulsen, A., & Babajide Wintoki, M. 2017. Foreign independent directors and the quality of legal institutions. Journal of International Business Studies, 48(2): 267–292.
Oxelheim, L., & Randøy, T. 2003. The impact of foreign board membership on firm value. Journal of Banking and Finance, 27(12): 2369–2392.
Oxelheim, L., & Randøy, T. 2005. The Anglo-American financial influence on CEO compensation in non-Anglo-American firms. Journal of International Business Studies, 36(4): 470–483.
Oxelheim, L., & Randøy, T. 2013. Globalization of monitoring practices: The case of American influences on the dismissal risk of European CEOs. Journal of Economics and Business, 70: 3– 15.
Oxelheim, L., Gregorič, A., Randøy, T., & Thomsen, S. 2013. On the internationalization of corporate boards: The case of Nordic firms. Journal of International Business Studies, 44(3): 173–194.
- Piekkari, R., Oxelheim, L., & Randøy, T. 2015. The silent board: How language diversity may influence the work processes of corporate boards. Corporate Governance: An International Review, 23(1): 25–41.
Paper not yet in RePEc: Add citation now
Pomeroy, B., & Thornton, D. B. 2008. Meta-analysis and the accounting literature: The case of audit committee independence and financial reporting quality. European Accounting Review, 17(2): 305–330.
Tenzer, H., Pudelko, M., & Harzing, A. W. 2014. The impact of language barriers on trust formation in multinational teams. Journal of International Business Studies, 45(5): 508–535.
- The European Parliament and the Council of the European Union. 2014. Directive 2014/56/EU of the European Parliament and the Council of the European Union. Official Journal of the European Union, L: 158–196.
Paper not yet in RePEc: Add citation now
- This table presents the effect of FD_Audit on FRQ in the presence of country-level investor protection mechanisms. The sample consists of non-financial European publicly listed firms from the year 2000 to 2018.
Paper not yet in RePEc: Add citation now
Yu, G., & Wahid, A. S. 2014. Accounting standards and international portfolio holdings. Accounting Review, 89(5): 1895–1930. Table 1 Sample selection procedure. All the European publicly listed firms All firm-year observations in BoardEx database 575,465 Less firms with missing data on ISIN and report date 73,224 Total number of observations from BoardEx 502,241 Less duplicates: the BoardEx data is at director-level 442,629 Less firms with missing financial information 26,588 Less financials, utilities, and missing industry 1,523 Less firms with missing data on FRQ measures 14,304 Total observations with board and financial information 17,197 Less firms with missing data on audit committee 4,426 Sample size for the main tests 12,771 Table 2 Sample statistics. Variables are winsorized at the 1st and 99th percentile to adjust for potential outliers. All variables are defined in Appendix A.