Antecedents of and outcomes after finance committee use
研究了企业自愿设立并使用财务委员会的原因及其效益，发现养老金计划、债务股权发行和股息支付等因素促使企业设立财务委员会，且高度独立的财务委员会能改善投资绩效并降低债务成本。
Abstract We study why firms voluntarily create and use finance committees and whether firms realize benefits. Firms are more likely to have a finance committee when they have defined benefit pension plans, debt equity issuance and active dividend payout. Capital expenditures, restructuring, material weaknesses in internal controls and restatements are drivers of creating a finance committee. While we find a weak association between finance committee use and financial performance on average, we find that finance committees that are highly independent have better‐performing investments. Finance committees contribute to lowering the cost of debt for firms with small audit committees.