公司高管权力配置结构对内部控制有效性的影响研究

发布时间：2018-09-08 17:08

【摘要】：随着我国市场经济的快速发展和一系列相关法律法规的完善,企业对内部控制的实施越来越重视,我国内部控制的发展也越来越进步。实施内部控制既可以提高公司经营管理水平又可以增强公司抵御和防范风险的能力,而提高内部控制的有效性不论是对于完善企业经营管理机制还是对于完善现代企业制度都具有非常重要的意义。现有的文献重点研究了高管权力配置结构与公司治理和公司绩效之间的关系,而对于其与内部控制有效性之间的相关性探究相对较少。内部控制制度的设立与公司治理水平的提升息息相关,而高管在公司治理中处于中心地位,高管人员不仅安排着公司的治理权,而且还参与内部控制制度的制定与实施。因此高管权力的配置不仅直接影响公司治理各要素的分配、治理效果和效率的提高,还会对内部控制的科学拟定和有效实行也产生重要影响。因此本文从影响高管权力配置结构的相关指标视角出发探究高管权力配置各要素与内部控制有效性的相关关系。公司合理的高管权力配置结构不仅能够促使公司选择合适的高管领导,安排适合的团队规模,还能使各资源充分发挥最大作用,达到节省成本、增加效率,健全内部控制体系,增强内部控制的有效性,实现公司价值最大化的目标。本文以2012-2015年沪深两市中披露迪博内控指数的A股上市公司为研究样本,考察了高管权力结构的配置状况,基于相关理论的阐述和铺垫,构建多元线性回归模型,从公司的高管权力结构配置角度对内部控制的有效性展开分析。由于构成高管权力配置结构的指标有很多,因此,本文从影响高管权力配置结构的指标下手来分析其对内部控制有效性的影响。实证结果表明,提高股权集中度、独立董事比例以及高管人员的受教育水平有助于增强内部控制的有效性。而过大的董事会规模、过多的高管团队人数以及较高的高管年龄则不利于内部控制的有效发挥。最后基于本文实证研究结论从制度层面和公司治理层面提出了一些相关建议。
[Abstract]:With the rapid development of our market economy and the perfection of a series of related laws and regulations, enterprises pay more and more attention to the implementation of internal control, and the development of internal control in our country is also more and more progressive. The implementation of internal control can not only improve the management level of the company, but also enhance the ability of the company to resist and prevent risks. Improving the effectiveness of internal control is of great significance to the improvement of enterprise management mechanism and modern enterprise system. The existing literature focuses on the relationship between executive power allocation structure, corporate governance and corporate performance, but the correlation between it and the effectiveness of internal control is less explored. The establishment of internal control system is closely related to the improvement of corporate governance level, and executives are in a central position in corporate governance. Executives not only arrange the corporate governance rights, but also participate in the formulation and implementation of internal control system. Therefore, the allocation of executive power not only directly affects the distribution of corporate governance elements and the improvement of governance effect and efficiency, but also has an important impact on the scientific formulation and effective implementation of internal control. Therefore, this paper explores the relationship between the various elements of executive power allocation and the effectiveness of internal control from the perspective of related indicators that affect the structure of executive power allocation. Reasonable executive power allocation structure can not only urge the company to choose the appropriate executive leadership and arrange the appropriate team size, but also can make the most of the resources, achieve cost savings, increase efficiency, and improve the internal control system. Enhance the effectiveness of internal control and achieve the goal of maximizing the value of the company. In this paper, the A share listed companies in Shanghai and Shenzhen stock markets from 2012 to 2015 to disclose the internal control index of Debo are taken as the research samples, and the configuration of the executive power structure is investigated. Based on the elaboration and laying of the relevant theories, a multiple linear regression model is constructed. This paper analyzes the effectiveness of internal control from the perspective of executive power structure allocation. Since there are many indicators that constitute the power allocation structure of senior executives, this paper analyzes the impact on the effectiveness of internal control from the indicators that affect the power allocation structure of senior executives. The empirical results show that increasing the degree of equity concentration, the proportion of independent directors and the education level of senior executives will help to enhance the effectiveness of internal control. Too large a board size, too many executive teams and a higher executive age are not conducive to effective internal control. Finally, based on the conclusions of the empirical study, this paper puts forward some relevant suggestions from the system level and corporate governance level.
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F272.91

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