This paper examines the association between the presence of female tainted directors on corporate boards and audit committees and (1) financial reporting quality and (2) audit fees. Female tainted directors are defined as female directors who have been directors of the firms that have previously been involved in financial failures and integrity indiscretions. Using real earnings management and audit fees as proxies for effective governance and board reputation, we find that firms with female tainted directors have higher real earnings management and higher audit fees. However, since prior literature has demonstrated that audit fees are higher for firms with female directors because female directors demand better auditing, we corroborate a supply-side effect of auditors charging higher audit fees when female tainted directors exist. We demonstrate this by showing that while there is an association between audit fee and real earnings management, this association is higher for firms with female tainted directors. Arguably, the governance and reputational benefits of female directors on boards are negated if such directors have tarnished professional reputations.

本文研究了公司董事会和审计委员会中女性受污染董事的存在与（1）财务报告质量和（2）审计费用之间的关联。受污染的女性董事定义为女性董事，他们曾是以前曾因财务失败和诚信失格而卷入的公司的董事。使用实际收入管理和审计费用作为有效治理和董事会声誉的代理，我们发现，董事受女性污染的公司具有更高的实际收入管理和更高的审计费用。但是，由于以前的文献表明，由于女性董事要求更好的审计，所以对于拥有女性董事的公司而言，审计费用较高，因此我们证实了存在女性污染董事的情况下，审计师收取较高审计费用的供应方面的影响。我们通过证明虽然审计费用和实际收益管理之间存在关联，但对于女性受污染董事的公司而言，这种关联更高。可以说，如果女性董事的职业声誉受到损害，则董事会的治理和声誉利益将被否定。