审计委员会地位与公司价值研究

Research on the Status of Audit Committee and Company Value

以2007-2015年沪深A股上市公司为对象,通过构建审计委员会地位的指标,探讨审计委员会地位与公司价值的关系。研究发现:审计委员会地位与公司价值正相关,两者的正效应在非国有企业中更为明显;进一步研究发现,高地位审计委员会能够通过强化公司风险管理、降低公司资本成本提高公司价值。本文的研究丰富了审计委员会相关理论,同时也为公司发挥审计委员会作用提供了经验证据。

This paper discusses the relationship between the status of the audit committee and the company's value by constructing an index of the status of the audit committee based on the data of Shanghai and Shenzhen A-share listed companies from 2007 to 2015. The study finds that the status of the audit committee is positively related to the company's value, and the positive effect is more significant in non-state-owned enterprises. Further research finds that the high-status audit committee enhances the company's value by strengthening the company's risk management and reducing the company's capital cost. The study enriches the relevant theories of the audit committee and also provides empirical evidence for the company to maximize the role of the audit committee.