内部控制、公司治理结构与企业财务绩效

The Internal Control,Corporate Governance Structureand Enterprise Financial Performance

自委托代理理论出现之后,为了提高企业的财务绩效,公司治理与内部控制逐渐得到重视,本文选取2009-2014年沪深两市上市公司为样本,研究内部控制、公司治理、企业财务绩效三者之间的关系,研究发现,内部控制水平、公司治理水平都与企业财务绩效显著正相关,不同股权性质并没有显著的区别,说明,不管是国有企业还是非国有企业,只要能够合理的确定企业的公司治理结构,提高企业的内部控制水平,都能够提高企业的财务绩效水平,为企业创造更多的价值。

Since the emergence of principal-agent theory, corporate governance and internal control have been gradually emphasized in order to improve the financial performance of enterprises,This paper selects 2009-2014 listed companies in Shanghai and Shenzhen stock markets for to study the relationship between internal control, corporate governance and corporate financial performance,The results show that the level of internal control and corporate governance are significantly positively related to the financial performance of enterprises, but there is no significant difference between different ownership,That is to say, whether state-owned enterprises and non-state-owned enterprises, as long as they can determine reasonable corporate governance structure and improve the level of internal control of enterprises, they can improve the enterprise's financial performance level and create more value for the enterprise.