Using data from 944 public companies in 2006, I examine how a firm''s propensity to pay dividends is related to (i) board independence and (ii) independent directors'' tenure, number of board seats (busy) and equity incentive compensation. After controlling for the effects of traditional...

We examine the effect of non-mandatory corporate governance practices on a comprehensive set of audit judgments. We provide initial evidence on how auditors respond to corporate governance in an institutional environment where corporate governance is not mandated by law. Based on the agency and...