Page 94 - 34-1

The Interrelationship among Normal and Abnormal D&O Insurance Coverage, Institutional Investor
Characteristics and Audit Fees

officers’ liability insurance. Journal of Risk and Insurance, 82 (4): 753-791.
https://doi.org/10.1111/jori.12107
Brickley, J. A., Lease, R. C., and Smith, C. W., Jr. 1988. Ownership structure and voting
on antitakeover amendments. Journal of Financial Economics, 20: 267-291.
https://doi.org/10.1016/0304-405X(88)90047-5

Carcello, J. V., Hermanson, D. R., Neal, T. L., and Riley, R. A., Jr. 2002. Board
characteristics and audit fees. Contemporary Accounting Research, 19 (3): 365-
384. https://doi.org/10.1506/CHWK-GMQ0-MLKE-K03V
Chalmers, J. M. R., Dann, L. Y., and Harford J. 2002. Managerial opportunism? Evidence

from directors’ and officers’ insurance purchases. The Journal of Finance, 57 (2):
609-636. https://doi.org/10.1111/1540-6261.00436
Chang, S. C., Ren, Y., and Yeh, J. 2018. The role of information: When is directors’ and
officers’ insurance value-added?. Journal of Banking & Finance, 97: 189-197.
https://doi.org/10.1016/j.jbankfin.2018.10.003
Chen, X., Harford, J., and Li, K. 2007. Monitoring: Which institutions matter?.
Journal of Financial Economics, 86 (2): 279-305. https://doi.org/10.1016/

j.jfineco.2006.09.005
Chen, Z., Li, O. Z., and Zou, H. 2016. Directors’ and officers’ liability insurance and the
cost of equity. Journal of Accounting and Economics, 61 (1): 100-120. https://
doi.org/10.1016/j.jacceco.2015.04.001

Chi, H. Y., and Weng, T. Z. 2014. Managerial legal liability and Big 4 auditor choice.
Journal of Business Research, 67 (9): 1857-1869. https://doi.org/10.1016/
j.jbusres.2013.12.003
Chung, H. H., Hillegeist, S. A., and Wynn, J. P. 2015. Directors’ and officers’ legal liability
insurance and audit pricing. Journal of Accounting and Public Policy, 34 (6):
551-557. https://doi.org/10.1016/j.jaccpubpol.2015.05.009

Chung, H. H., and Wynn, J. P. 2008. Managerial legal liability coverage and earnings
conservatism. Journal of Accounting and Economics, 46 (1): 135-153. https://
doi.org/10.1016/j.jacceco.2008.03.002
_______. 2014. Corporate governance, directors’ and officers’ insurance premium
and audit fees. Managerial Auditing Journal, 29 (2): 173-195. https://doi.
org/10.1108/MAJ-04-2013-0856

Core, J. E. 1997. On the corporate demand for directors’ and officers’ insurance. The

86