管理层能力与内部控制--来自中国上市公司的经验证据

Managerial Ability and Internal Control Quality——Empirical evidence from chinese listed companies

作为保证内部控制有效运行的根本因素,管理层能力的差异会对企业内部控制质量及其缺陷识别产生影响。本文以2011-2014年沪深两市上市公司作为研究样本,分行业建立DEA-Tobit模型衡量管理层能力进行实证研究,结果发现上市公司管理层能力与内部控制质量正相关。同时,以2011-2014年沪深两市发生财务重述公司为基础,确定内部控制存在缺陷的上市公司样本,建立局部可观察双变量probit模型进行实证研究,结果发现上市公司管理层能力越高,越能够识别已存在的内部控制缺陷。

Management is the basic factor in ensuring efficient operation of internal control. Differences in manageri- al ability will affect the quality of internal control and its weakness detection. Using a sample of Chinese listed firms during 2011 -2014 in Shenzhen and Shanghai stock markets, this paper empirically tested the relationship between managerial ability and internal control quality and its weakness detection. We finally found that managerial ability and internal control quality was ternal control weakness based on posi the tively correlated. Then we determined the samples of listed companies with in- causal relationship of internal control weakness and financial restatement. This paper established local observable bivariate Probit Model and the results showed that： the higher the listed compa- ny＇ s managerial ability was, the more likely to detect the existing internal control weakness