企业社会责任对融资约束影响的实证研究

Study on Countermeasures against Audit Risk Arising from Related Party Transactions

本文以2012-2014年沪市A股上市公司为研究对象,采用利益相关者模型对企业社会责任进行衡量,以引入外部审计意见和独立董事比例的创新的现金—现金流模型,从整个资本市场、不同的金融发展水平、不同的企业所有权性质角度分别研究企业社会责任对融资约束的影响;其次从融资来源的渠道角度,将融资分为债权融资和股权融资进一步研究企业的融资约束差异。实证研究结果表明:企业社会责任的披露与融资约束程度负相关,在一定程度上起到了缓解融资约束的作用。

Starting from the accounting treatment of related party transactions, this article analyzes the objective existence, complexity and controllability of the audit risk arising from related party transactions, and further establishes a quantitative model of audit risks which contains three elements, namely, risk of material misstatements, detection risk and a risk warning coefficient. Finally, through the quantitative analysis of the model, it proposes countermeasures to effectively control such risks, including improvement of specific accounting and auditing standards and regulations, objective evaluation of the internal control relevant to related party transactions, innovation of technical methods and strengthening of the continuing professional education of auditors.