强制审计背景下内部控制与企业价值研究

发布时间：2018-05-03 21:25

本文选题：内部控制审计 + 企业价值　；参考：《四川师范大学》2017年硕士论文

【摘要】：本世纪初,美国接连发生财务舞弊丑闻,严重打击投资者和社会公众的信心,促使美国在2002年颁布了《萨班斯法案》。随着经济的发展,我国的资本市场日渐成熟,企业的内部控制建设逐渐引起社会各界的重视。在会计准则国际趋同的基础上,财政部等五部委逐渐建立适合我国企业的内部控制规范体系,并强制要求主板上市公司从2012年开始执行,标志着我国从2012年起进入强制性内部控制审计阶段。有效的内部控制不仅能提高财务报告质量,也能进一步提升公司治理水平,降低经营风险,更有效地利用各种资源,实现企业的各种财务目标和经营目标,进而提高企业价值。实证检验强制性内部控制审计制度在资本市场的运行效果,不仅能为政策提供经验证据支持,也为利益相关者决策提供参考。本文以强制内部控制审计制度为背景,选取2007-2010年A股主板上市公司为“自愿审计”阶段样本,2012-2015年为“强制审计”阶段样本,通过进行两阶段回归检验得出以下结论:(1)内部控制越有效,企业价值越大。(2)强制性内部控制审计制度促使管理者在政策压力和市场需要双重作用下更加关注和重视内部控制建设,提高内部控制效果,进而增加企业价值。研究结果初步验证了我国内部控制审计制度的有效性。(3)与非国有企业相比,国有企业中,内部控制审计在内部控制对企业价值的积极影响中的强化作用更大,表明国有企业的内控建设取得一定成效,其在强制性内部控制审计制度的实施中起到了示范带头作用。本文的主要贡献在于:第一,以强制审计制度为背景,探讨内控审计、内部控制对企业价值的影响,并进一步分析不同产权性质下的差异,拓宽了内部控制经济后果的研究;第二,实证检验强制审计制度对内部控制的影响,及其在内部控制对企业价值积极影响中的作用,验证了我国强制审计制度的有效性;第三,有助于认识上市公司内部控制现状,以及监管部门在内控审计制度实施过程中所发挥的作用,为监管者完善监管措施和提升监管效率提供参考,并为强化企业内部控制建设提出政策建议。本文的创新点主要有三点:第一,基于内部控制目标论,构建内控审计、内部控制与企业价值的理论分析框架。第二,基于强制审计制度背景,实证检验内控审计、内部控制与企业价值的关系,为政策提供经验证据支持。第三,进一步研究不同产权性质下,内控审计在内部控制提升企业价值作用过程中的差异。
[Abstract]:At the beginning of this century, a series of financial fraud scandals occurred in the United States, which seriously damaged the confidence of investors and the public, and prompted the United States to enact the Sarbanes Act in 2002. With the development of economy, the capital market of our country is maturing day by day. On the basis of the international convergence of accounting standards, five ministries such as the Ministry of Finance and other ministries have gradually established a standard system of internal control suitable for Chinese enterprises, and forced the main board listed companies to implement it from 2012. Marks our country from 2012 to enter the mandatory internal control audit stage. Effective internal control can not only improve the quality of financial report, but also further improve the level of corporate governance, reduce business risks, more effectively use all kinds of resources, achieve various financial objectives and business objectives of enterprises, and then improve the value of enterprises. The empirical test of the effect of mandatory internal control audit system in the capital market can not only provide empirical evidence support for the policy, but also provide a reference for stakeholders to make decisions. Based on the mandatory internal control audit system, this paper selects A shares listed companies as the "voluntary audit" stage samples and 2012-2015 as the "mandatory audit" stage samples. Through a two-stage regression test, the following conclusion can be drawn: 1) the more effective the internal control is, The greater the enterprise value is, the greater the internal control audit system is, which urges managers to pay more attention to the construction of internal control under the dual function of policy pressure and market demand, to improve the effect of internal control, and then to increase the value of enterprises. The results show that the effectiveness of internal control audit system in China is stronger than that in non-state-owned enterprises, and the internal control audit plays a more important role in the positive impact of internal control on the value of enterprises. It shows that the construction of internal control in state-owned enterprises has made some achievements and has played an exemplary and leading role in the implementation of mandatory internal control audit system. The main contributions of this paper are as follows: first, under the background of compulsory audit system, this paper discusses the influence of internal control audit and internal control on enterprise value, and further analyzes the differences under different property rights, which broadens the research on the economic consequences of internal control; Second, the empirical test of the impact of mandatory audit system on internal control, and its role in the positive impact of internal control on the value of enterprises, to verify the effectiveness of the mandatory audit system in China; third, It is helpful to understand the current situation of internal control of listed companies and the role played by the regulatory authorities in the implementation of the internal control audit system, and to provide a reference for the regulators to improve the regulatory measures and enhance the efficiency of supervision. And in order to strengthen the construction of internal control of enterprises put forward policy recommendations. There are three main innovations in this paper: first, based on the theory of internal control goal, the theoretical analysis framework of internal control audit, internal control and enterprise value is constructed. Secondly, based on the background of mandatory audit system, this paper empirically tests the relationship between internal control audit, internal control and enterprise value, and provides empirical evidence for the policy. Thirdly, the differences of internal control audit in the process of enhancing the value of enterprises under different property rights are further studied.
【学位授予单位】：四川师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51

【参考文献】