董事高管责任保险与内部控制质量关系的研究

Research on Director-Executive Liability Insurance and Internal Control Quality

以2012—2016年中国沪深A股上市公司为样本的研究表明:董事高管责任保险的引入能够有效提高企业的内部控制质量;相对于非国有企业,董事高管责任保险能更显著地提高国有企业的内部控制质量;董事高管责任保险作为一种公司治理机制,能够有效降低企业的第一类代理成本,从而提高内部控制质量。因此,企业应该积极引入董事高管责任保险,尤其是国有企业,应发挥其示范作用,引领我国上市公司提高治理水平,为内部控制的有效运行创造良好环境。

A case study of the companies listed in Shanghai and Shenzhen Stock Exchange from 2012 to 2016 has indicated that director and executive liability insurance can effectively improve the corporate internal control quality,and it its more significantly so in state-owned enterprises than in non-state-owned enterprises.Director and executive liability insurance as a corporate governance mechanism can effectively reduce the first agency cost and improve the corporate internal control quality.Therefore,enterprises,in particular,state-owned enterprises should make efforts to introduce the director-executive liability insurance improve the governance level of the leading Chinese listed companies and create a good environment for the effective operation of internal control.