基于监督机制的上市公司内部控制缺陷披露研究

发布时间：2018-01-10 17:03

本文关键词：基于监督机制的上市公司内部控制缺陷披露研究　出处：《安徽财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：近年来,世界范围内,由于内部控制问题而导致的企业经营失败或财务舞弊案件层出不穷,内部控制受到了社会各界的高度关注。内部控制缺陷往往是导致内部控制失效的重要原因,往往使企业不能有效防范错误或舞弊的发生。因此,内部控制缺陷信息披露问题引起学术界的高度关注。一方面它反映了企业内部控制的执行情况,这有助于投资者和监管者做出正确的判断,另一方面企业内部控制缺陷披露体系的不断完善有助于相关监管部门对企业内部控制的监管。本文在文献综述和实证研究的基础上,对上市公司内部控制缺陷披露影响因素及内部控制缺陷披露对权益资本成本的影响两个问题进行了实证研究。在研究内部控制缺陷披露影响因素方面,以2012年深市主板A股上市公司作为样本,分析了基于内部监督视角披露我国上市公司内部控制缺陷的影响因素。研究结果显示监事会成员的持股数及审计委员会的独立性与内部控制缺陷的披露显著负相关,规模小、获利能力差的公司披露内控缺陷的可能性更大。同时,本文在控制权益资本成本的相关影响因素的基础上,采用了多元线性回归的方法检验了内部控制缺陷披露对权益资本成本的影响。从理论分析来看,内部控制有效的公司,其经营风险会相对较低,公司募集资金的成本,即权益资本成本,会相对较低。因此,公司的权益资本成本的大小与内控缺陷的严重程度应该呈现正向的显著关系。但是,通过研究发现,内部控制缺陷披露与权益资本成本之间并没有显著的相关性,这与理论分析结论相背离。产生这一结果的原因较多,诸如理论上假设的市场环境是完美的,也就是信息能够及时完整地传递到市场中,但是实际的市场并非能达到这一条件,这就造成了现实与理论的偏离；制度上的缺陷使得企业的信息不能真实地传递给市场等。后文对这一结果做出了相关解释。最后,以本文所得结论为基础,针对完善企业内部控制缺陷披露问题提出了相关政策和建议。
[Abstract]:In recent years, in the world, due to internal control problems caused by the failure of business operations or financial fraud cases emerge in endlessly. Internal control has been highly concerned by all walks of life. Internal control defects are often the main reason leading to internal control failure, often make enterprises can not effectively prevent the occurrence of errors or fraud. On the one hand, it reflects the implementation of internal control, which helps investors and regulators to make a correct judgment. On the other hand, the continuous improvement of the internal control defect disclosure system is helpful to the supervision of the internal control. This paper is based on literature review and empirical research. This paper makes an empirical study on the influencing factors of internal control defect disclosure of listed companies and the impact of internal control defect disclosure on equity capital cost. In 2012, Shenzhen main Board A-share listed companies as a sample. This paper analyzes the factors influencing the disclosure of internal control defects of listed companies in China from the perspective of internal supervision. The research results show that the number of shares held by members of the supervisory board and the independence of the audit committee are significantly negative with the disclosure of internal control defects. Turn it off. Small companies with poor profitability are more likely to disclose internal control defects. At the same time, this paper is based on the control of the cost of equity capital on the basis of the relevant factors. The method of multiple linear regression is used to test the impact of internal control defect disclosure on the cost of equity capital. From the theoretical analysis, the operating risk of the company with effective internal control will be relatively low. The cost of raising funds, that is, the cost of equity capital, will be relatively low. Therefore, the size of the cost of equity capital and the severity of internal control defects should show a positive and significant relationship. Through the study, it is found that there is no significant correlation between the disclosure of internal control defects and the cost of equity capital, which deviates from the conclusion of theoretical analysis. There are many reasons for this result. For example, the hypothetical market environment is perfect, that is, the information can be transmitted to the market in time and completely, but the actual market can not reach this condition, which causes the deviation between reality and theory. The defects of the system make the information of the enterprise can not be transmitted to the market, etc. The result is explained in the following article. Finally, based on the conclusions of this paper, some policies and suggestions are put forward to improve the disclosure of internal control defects.
【学位授予单位】：安徽财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51;F275

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