기업지배구조가 회계부정에 미치는 영향

This study examines whether certain corporate governance significantly reduces financial statement fraud. It uses a sample of 120 firm-year companies (60 fraud firms and 60 no-fraud firms) listed in the Korea Stock Exchange during the period of 2000-2005. In this paper, I focus on the relation between internal and external corporate governance and the occurrence of financial statement fraud. The empirical results from logit regression show that the internal corporate governance is not associated with fraud. Also I find evidence that the external corporate governance is associated with the occurrence of financial statement fraud. Big4 auditors and changed auditors in the firm reduce the likelihood of financial statement fraud. My findings are consistent with the idea that auditor enhances the credibility of financial statements of a firm. There are few studies that examine the relation of corporate governance and financial statement fraud. This study develops a framework of linkage between corporate governance and financial statement fraud.