External Corporate Governance and Misreporting
研究了限制股东参与治理的外部规定（如法律和公司章程）如何影响会计重述的发生率，发现更强的外部治理（更少限制）与较低的重述率相关，且效果独立于内部治理。
Abstract This study investigates how external corporate governance provisions, specifically statutory and corporate charter provisions that limit direct shareholder participation in the governance process, affect the likelihood of an accounting restatement. The analysis indicates that strong external governance (fewer restrictions on shareholder participation) is associated with a relatively low incidence of accounting restatements. The effect of external governance is incremental to that of internal governance, which is considered as provisions that foster effective board oversight of management. Such evidence supports the premise that shareholder participation improves financial reporting quality.