@article {18425,
	title = {Corporate Governance, Internal Audit and Profitability: Evidence from P.I.G.S. Countries},
	journal = {Journal of Accounting and Auditing: Research \& Practice},
	volume = {20},
	year = {2020},
	pages = {1-17},
	abstract = {This paper aims to explore whether and how specific corporate governance and internal audit determinants affect the profitability of businesses in the countries internationally called P.I.G.S. (Portugal, Italy, Greece, Spain, respectively). The sample consists of listed companies of the Southern European countries P.I.G.S. The survey data covers the period 2011-2016. Statistical analysis was based on a panel data regression model. In contrast to many research studies, this paper finds that internal managers are more suitable to perform the duties of the audit committee effectively, that there is a positive effect in profitability by increasing the Board Size with new members and that frequent meetings of the boards entail additional costs that outweigh any benefits. In addition, there is evidence that firms{\textquoteright} profitability may behave differently in countries with similar macroeconomic and cultural characteristics and for specific examined periods.},
	url = {https://ibimapublishing.com/articles/JAARP/2020/668702/},
	author = {D. Balios and Th. Zaroulea}
}
