WORKING PAPER - Faculteit Economie en Bedrijfskunde

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Table 1 : Breakdown of the Respondents Frequency Percentage Panel A : Industry Production, energy, utilities 23 31,50% Telecom, IT, media, entertainment 9 12,33% Trade, Transport, logistics 9 12,33% Professional services 13 17,81% Financial services and insurances 19 26,03% Panel B : NYSE listing 73 100% Company or parent company listed on the NYSE 16 21,92% 26
Table 2: Descriptive Statistics for Dependent and Independent Variables (n = 73) Min. Max. Mean S.D. Number of internal auditors 1 130 10,71 21,19 Ln (Number of internal auditors) Diffusion of ownership 0 5 1,42 1,26 (largest individual percentage of 5,16 100 63,32 29,16 stock ownership) Management share ownership 0 62,65 4,55 10,67 Leverage (total debt / total assets) 10,02 96,99 67,51 21,89 Total assets (in 000 Euro) 9 659 508 761 000 107 000 000 71 834 776,38 Ln (Total assets) Number of reporting levels 9 20 14,19 2,07 between top management and 1 10 4,38 1,93 lowest operating unit Number of countries in which the company has one or more subsidiaries or operating units 1 100 14,51 18,40 27
Page 1 and 2: FACULTEIT ECONOMIE EN BEDRIJFSKUNDE
Page 3 and 4: Introduction Despite all of the rec
Page 5 and 6: interests of the firm. To ensure th
Page 7 and 8: will need monitoring through auditi
Page 9 and 10: levels in the company increases, th
Page 11 and 12: after an intensive follow-up by e-m
Page 13 and 14: e reasonably expected that these co
Page 15 and 16: Descriptive Statistics and Correlat
Page 17 and 18: lowest operating unit, the larger t
Page 19 and 20: external auditing in this agency co
Page 21 and 22: have more reporting levels and a wi
Page 23 and 24: Francis, J.R. and Wilson, E.R. (198
Page 25: Exhibit 1: Relationship between age
Page 29 and 30: Table 4: OLS Regression Analysis (n

WORKING PAPER - Faculteit Economie en Bedrijfskunde

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