감사위원회 설치 여부가기업가치와 경영성과에 미치는 영향

Recently, the internal and external environmental factor of the firm has been rising as substantiality management become more essential. This research is to analyze the impact on firm value and business performance on installing auditing committee, which is one of the corporate governance of the internal and external environmental factor of the firm. The purpose of this study is to verify the influence of auditing committee which has been installed to increase the soundness of the firm by efficiency, transparency, and fairness of corporate management. The results of the installation of the audit committee on firm value and business performance analysis are as follows：First, the relationship between installation of auditing committee and firm value appears that firm with auditing committee has positive (＋) value to influence on firm value in the statics. This supports that in the case of installing auditing committee, it increases the efficiency of business decision making and supports that there is an effectiveness of auditing committee system on increasing the firm value. Second, the effect of auditing committee on business performance appears to have negative(－) value to influence on ROA and ROE, but the results were not statistically significant. This study has significance on verifying the influence of auditing committee, which is composed of 1/3 of outside directors with expertise to increase the transparency of corporate management, on firm value and business performance through an actual analysis. However, if there is a follow－up study considering the detailed characteristics of auditing committee, more meaningful results will be suggested.