Purpose

The purpose of this study is to investigate the association between audit committees’ characteristics and firms’ risk in Malaysian manufacturing firms.

Design/methodology/approach

The effect of audit committees on firms’ risk is investigated by 930 firm-year observations between the fiscal years of 2004 and 2009 of Bursa Malaysia listed firms during the global financial crisis. Panel data regression analysis is used to analyze the relationship.

Findings

The findings of this study indicate that audit committee’s independence reduces firms’ risk. Nonetheless, across various analysis, the authors fail to associate audit committee’s qualification and membership in professional bodies with firms’ risk. Consistently, the authors find that family ownership is negatively associated with IDIOSYNCRATIC risks, supporting previous studies claim that family firms are more risk averse than non-family firms.

Research limitations/implications

The analysis is confined to Malaysian family manufacturing sectors during global financial crisis 2007–2008.

Originality/value

This study offers insights into the importance of audit committees’ qualification and knowledge in Malaysian family manufacturing firms in reducing firms’ risk and providing stability to investors investment.

中文翻译：

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审计委员会是否限制马来西亚家族制造企业的风险？

目的

本研究的目的是调查审计委员会的特征与马来西亚制造企业的风险之间的关系。

设计/方法/方法

审计委员会对公司风险的影响通过 2004 至 2009 财政年度全球金融危机期间马来西亚交易所上市公司的 930 个公司年度观察结果进行调查。面板数据回归分析用于分析关系。

发现

本研究的结果表明，审计委员会的独立性降低了公司的风险。尽管如此，通过各种分析，作者未能将审计委员会的资格和专业机构的成员资格与公司的风险联系起来。始终如一地，作者发现家族所有权与异同风险呈负相关，支持先前的研究声称家族企业比非家族企业更厌恶风险。

研究限制/影响

该分析仅限于 2007-2008 年全球金融危机期间的马来西亚家庭制造业。

原创性/价值

这项研究提供了关于审计委员会的资格和知识在马来西亚家族制造公司中对降低公司风险和为投资者投资提供稳定性的重要性的见解。