现代公司治理结构与会计舞弊关系的实证研究

An Empirical Research on Relationship between Modern Corporate Governance and Accounting Information Fraud

本文以我国证券交易所成立至2003年12月31日期间被证监会公开查处的财务报告舞弊的上市公司为样本,比较全面地选取了分别代表公司治理结构中董事会特征、监事会特征、经理层特征、股权结构等方面的14个指标对公司治理结构与会计舞弊之间的关系进行了实证研究。研究结果发现内部人控制度、国家股比例、股权制衡度与财务报告舞弊显著正相关,法人股比例、股权集中度、高级管理层持股比例与财务报告舞弊显著负相关。

This paper does empirical research on relationship between modern corporate governance and accounting information fraud, with the listed companies penalized by China Securities Regulatory Commission for financial statement fraud as research samples and fourteen indexes which present characteristic of the board of directors, characteristics of auditing commission, characteristics of directors and ownership structure as study objects. We found that insider control, the proportion of national shareholding, extent of power balance with shareholder structure are positively related to the likelihood of accounting information fraud while the proportion of corporate shareholding, the centralized extent of shareholding, the percentage of top managers' shareholding are negatively related to the likelihood of accounting information fraud.