This research attempts to investigate the effect of audit quality on firm value in the high corporate governance context. In addition, this study seeks to examine the role of institutional shareholders as a moderating variable on the relationship between audit quality and firm value. Dataset includes the 95 (out of 575) Thai listed companies which fully and completely implement the Corporate Governance Code (CG Code) voluntary disclosure recommended by OECD (Organisation for Economic Co-operation and Development) in 2021. Multiple linear regression and Hayes’s regression-based analysis are done using market capitalization as the dependent variable. The research results illustrate that audit quality relates to firm value in a negative way, while profitability and institutional shareholders relate to firm value in a positive manner. Moreover, the interaction effect between audit quality and institutional shareholders wields a significant negative impact on the association between audit quality and firm value, which indicates that the negative effect of audit quality on firm value is stronger when more firm shares are owned by institutional shareholders. The results of this study would potentially be very useful to managers, financial advisors, and policymakers to observe the nature and vagaries of audit quality in high corporate governance environment, especially when institutional shareholders hold a significant proportion of firm shares. The study offers practical suggestions and recommendations for audit quality and institutional shareholders, which are essential for overall operating efficiency and firm value. The outcomes can help improve corporate governance practices, which in turn enhance the share price and profits.

This study uses the annual financial data of Chinese A-share listed firms from 2010 to 2020 to investigate the relationship between multiple large shareholders (MLS) and earnings management (EM). After analyzing the samples using the Ordinary Least Squares (OLS) model and endogenous switching regression (ESR) model, the empirical results show that the presence of MLS can increase corporate EM activities and the MLS have a significantly positive effect on EM in both the treatment and control groups. In addition, this conclusion still holds after conducting multiple robustness tests. The cross-section analysis shows that the external audit supervision quality, institutional shareholders, and the uncertainty of the external economic environment have significant impacts on the baseline model results. Lastly, mediation effect analysis shows that the presence of MLS increases the corporate operating risk through EM activities. The conclusions of this paper are critical for policymakers to supervise China’s capital market, improve the level of corporate governance of China’s listed firms, and further promote reform of ownership structure.

Employee Engagement (EE) has become a crucial element for the success of any organization. While psychology has conducted extensive research on EE, accounting has yet to give it the attention it deserves. This systematic literature review (SLR) was conducted to explore the linkage between corporate governance (CG) practices and factors that drive employee engagement (EED) in greater detail. The review identified several key factors influencing EED: board composition, audit committees, top leadership expertise, network power, other stakeholders’ supervision, and above-board application. In particular, the study revealed that effective CG practices have positive EE consequences, such as increased staff morale, job satisfaction, and productivity, and decreased employee turnover rates. The study underlined the importance of an employee-centric culture that encourages empowerment and fosters a sense of belonging in achieving maximum business success. It suggests that companies must create a work environment that promotes EE, provides opportunities for growth and development, recognizes employee contributions, and fosters open communication and collaboration. By leveraging these insights, companies can enhance their business operations and achieve maximum success by fostering a culture of EE and empowerment. The study concludes that businesses prioritizing EE as a core value can create a sustainable competitive advantage, increase their reputation, and attract and retain top talent.

This paper provides new evidence on human resources management within the public sector. We explore the impact and mechanisms of the education and skills of tax inspectors on tax uncertainty using data from A-share-listed companies from 2009 to 2016. Our findings show that tax uncertainty is negatively correlated with the increase in human capital in the tax inspection bureau. That is, tax inspectors with higher levels of education and those who are certified tax agents help reduce tax uncertainty. Further analysis demonstrates that the impact of tax inspectors on tax uncertainty is most pronounced within large-scale and long-established firms.