内部控制信息披露质量与代理成本相关性研究—基于2009年深市A股数据

发布时间：2018-03-13 12:18

本文选题：内部控制　切入点：内部控制信息披露　出处：《江苏科技大学》2012年硕士论文　论文类型：学位论文

【摘要】：近年来一系列因内部控制信息披露不完善曝光的财务丑闻层出不穷，这不仅大大挫伤了市场的信心，也不断的提醒人们加强内部控制规范的重要性。财政部会同证监会、审计署、银监会、保监会于2008年6月制定颁发的《企业内部控制基本规范》以及2010年4月发布的《企业内部控制配套指引》要求上市公司年底随年报一同披露内部控制自我评价报告和会计师事务所出具的鉴证报告。内部控制信息披露是否可以降低代理成本？本文以此为背景，考察了内部控制信息披露质量和代理成本间的关系。在研究和评述了国内外相关文献的基础上，本文沿着相关研究路径做了更进一步演进拓展。首先，运用有效市场假说理论、契约理论以及信号传递理论对企业内部控制信息披露做理论分析，基于信号传递理论并运用层次分析法构建了用于测度内部控制信息披露质量的内部控制信息披露质量系数，运用内部控制信息披露质量系数作为解释变量进行了实证研究；其次，本文区分了代理成本中的股权代理成本、债权代理成本以及大股东与中小股东之间代理成本。最后，本文基于2009年深市A股数据考察了内部控制信息披露质量系数和代理成本间的关系。结果发现，我国上市公司内部控制信息披露质量水平不太高，，差别较大。研究结果还显示，股权代理成本与内部控制信息披露质量存在负相关关系；内部控制信息披露质量越高，大股东与中小股东之间的代理成本就会越低；债权代理成本与内部控制信息披露质量也同样存在负相关关系。
[Abstract]:In recent years, a series of financial scandals, which have been exposed because of incomplete disclosure of internal control information, have emerged in an endless stream, which has not only dampened the confidence of the market, but also constantly reminded people of the importance of strengthening internal control norms. The Ministry of Finance, together with the Securities Regulatory Commission, The Audit Office, the Banking Regulatory Commission, The basic Standards for Internal Control of Enterprises issued by the Insurance Regulatory Commission on June 2008 and the supporting guidelines on Internal Control of Enterprises issued on April 2010 require listed companies to disclose the internal control self-evaluation report together with the annual report at the end of the year. Certification report issued by the accounting firm. Can disclosure of internal control information reduce agency costs? Based on this background, this paper examines the relationship between the quality of internal control information disclosure and agency cost. Based on the research and review of domestic and foreign related literature, this paper further evolves along the relevant research path. First of all, The theory of efficient market hypothesis, contract theory and signal transmission theory are used to analyze the disclosure of internal control information. Based on the signal transfer theory and AHP, the internal control information disclosure quality coefficient is constructed to measure the quality of internal control information disclosure, and the internal control information disclosure quality coefficient is used as the explanatory variable for empirical research. Secondly, this paper distinguishes the cost of equity agency, the cost of debt agency and the cost of agency between the majority shareholder and the minority shareholder in the agency cost. This paper investigates the relationship between the quality coefficient of internal control information disclosure and agency cost based on the A share data of Shenzhen Stock Exchange in 2009. The results show that the quality level of internal control information disclosure of listed companies in China is not very high, and the difference is great. The higher the disclosure quality of internal control information, the lower the agency cost between the major shareholders and the minority shareholders. There is also a negative correlation between the cost of debt agency and the quality of internal control information disclosure.
【学位授予单位】：江苏科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F275;F832.51;F224

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