Table 9

summarizes the investors' responses regarding the impact of the AC’s competence on investment decisions

Questionnaire items – AC competenceAverage response out of 5
It is important to our investment decision that the AC of the investee's company includes members with financial literacy (for example accounting and finance)3.81
It is important to our investment decision that the AC of the investee's company includes members with financial expertise3.98
It is important to our investment decision that the AC of the investee's company includes industry expertise that improves the quality of the financial reporting3.78
It is important to our investment decision that the AC of the investee's company has the required competency to improve the internal control quality3.91
Overall average: 3.87

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