公司治理特征与内部控制有效性——来自2008—2011年上市公司经验数据

Characteristics of Company Administration and Effectiveness of Internal Control——From the Experience Data of Listed Companies during 2008-2011

为研究公司治理特征与内部控制有效性的关系,选取2008—2011年上市公司为样本,构建内部控制指数。分析了第一大股东比例、控股股东性质、董事会规模、董事会与总经理兼任情况对内部控制有效性的影响。研究发现:控股股东比例越高,内部控制有效性越低;当控股股东性质为国有时与内部控制有效性负相关;董事会规模对内部控制有效性有激励作用;独立董事与监事会规模对内部控制有效性没有显著影响。

In order to study the relationship between the characteristics of company administration and the effectiveness of internal control, listed companies during 2008 - 2011 are chosen as the samples to construct internal control indexes. The influences of internal control effectiveness are analyzed from the five aspects like the proportion of the first majority shareholders, the property of majority stockholders, the scale of board, and the interlocking of board and general manager. It is found out that the higher the proportion of majority stockholders, the lower the effectiveness of internal control; there is the negative correlation between stated - owned stockholders and internal control ; the scale of board has the incentive effect on the effectiveness of internal control, but the independent director and board scale of supervisors have not obvious influence on the effectiveness of internal control.