<title>Abstract</title> This study investigates demand and supply characteristics associated with firms that voluntarily established audit committees meeting ‘best practice’ membership guidelines. We focus on a set of best practice criteria rather than on the separate elements of the best practice criteria...

We examine whether New Zealand firms changed the composition of their boards of directors due to the 1994 enactment of the new Companies Act. We explore two possible effects. First, outside directors may have been more attractive, and firms may have used more outside directors after the new...