内部控制对研发投资及其异化行为的治理研究

Study on the Treatment of Internal Control to the R&D Investment and Its Alienation

内部控制作为一种完善的风险控制活动,贯穿于企业各个流程。基于此,本文选取2013~2015年在沪深A股上市的公司作为样本,研究内部控制对我国上市公司研发资本投资及其异化行为的影响。研究发现:完善的内部控制制度对企业研发资本投资具有显著的促进效果。内部控制可以部分治理研发资本投资异化行为,即减缓研发资本投资不足的异化现象、加重研发资本投资过度的异化现象,进而丰富了对研发资本投资行为异化经济后果的文献。

Internal control is a risk control activity, it runs through all the processes of the enterprise. This article selects 2013 -2015 China＇s A shares listed companies as samples to study the impact of internal control on R＆D investment and its alienation. The study finds that the perfect internal control system has a significant effect on the R＆D investment, internal control can partially control R＆D investment and its alienation, that is, it can avoid the phenomenon of under-investment （R＆D） and to aggravate the phenomenon of over-investment （ R＆D）, thus enrich the literature about the economic consequences of internal control on R＆D investment alienation.