中小投资者利益保护内部控制有效性研究——来自深圳证券交易所中小企业板的经验数据

Empirical Evidence on the Internal Control to Protect the Interest of M&SSH

本文从中小投资者的角度,研究深圳证券交易所中小企业板的上市公司与中小投资者利益保护相关的内部控制。根据112个企业的数据分析表明,董事长与总经理分离有利于中小投资者利益保护内部控制建设,其他公司治理措施与中小投资者利益保护内部控制建设无关,这些内部控制与公司价值也无关。这个发现启示我们,深圳证券交易所对中小投资者利益保护相关的内部控制可能需要进一步深化,使它们真正与中小投资者利益保护相关。

This paper focuses on internal control to protect the interest of M＆SSH. According to on the datum of 112 listed company, we find, there is no systemic relation between the control to protect the interest of M＆SSH and company governance, and there is no systemic relation between the control to protect the interest of M＆SSH and company value.