公司治理结构对内部控制有效性的影响

Corporate Governance on the Effectiveness of Internal Control

本文以2006年12月31日以前在中国上市的1162个上市公司为样本,用实证方法研究公司治理结构对内部控制有效性的影响。研究发现:年终股东大会出席率与公司内部控制有效性显著正相关;国有控股公司在财务报告质量上显著优于其他公司;董事会实际规模和监事会规模与公司绩效显著正相关;董事长兼任总经理会显著降低财务报告质量;设立审计委员会与公司绩效显著正相关;管理层的诚信和道德价值观念与公司内部控制有效性显著正相关;管理者的风险偏好与内部控制有效性呈显著的 U 型关系;管理层对员工胜任能力的重视程度与公司经营绩效和对法律法规遵循显著正相关;董事会监事会两会会议频率和第一大股东的控制力对内部控制有效性没有显著影响。

Based on cross-sectional data, this paper analysis corporate＇governance and the effectiveness of internal control. The conclusions are follows： The rate of shareholders attending the General Assembly has a significant positive influence on the effectiveness of internal control. The quality of financial report of the State-owned holding companies is significantly better than other companies. Board of director actual size and scale of Board of supervisors and company＇s performance is significant positive correlation. The chairman of Board of director who is general manager can significantly reduce the quality of financial report. Establishment of an audit committee and company performance is a significant positive correlation. Management＇s integrity and ethical values has a significant positive influence on the effectiveness internal control. Between commitment of competence of employees and company＇s performance and the legitimacy is significant positive correlation. Between the manager＇s preference of risk and the effectiveness of internal controls is significant the U-shaped relationship. Board of directors and board of supervisors frequency of meeting, major shareholders controlling power has not significant impact on the effectiveness of internal controls.