独立董事薪酬激励能够提高内部控制有效性吗?

Can Independent Director's Compensation Incentive Improve theEffectiveness of Internal Control?

内部控制与公司治理相辅相成,两者之间有着千丝万缕的联系。本文基于2008-2018年A股上市公司数据,围绕独立董事的薪酬激励能否提高上市公司内部控制有效性这一问题展开了讨论。研究发现,独董薪酬激励水平是内部控制有效性的影响因素之一,其强度与内部控制有效性之间存在显著的倒U型关系,这一作用规律主要体现在控制环境、风险评估以及控制活动方面。同时高信息透明度及高外部审计质量与独立董事薪酬激励之间存在替代效应。

Internal control and corporate governance complement each other and are inextricably linked.Based on the data of Chinese A-share listed companies from 2008 to 2018,a discussion on whether the compensation incentive of independent directors can improve the effectiveness of internal control of listed companies is provided,which finds that the incentive level of independent directors compensation is one of the influencing factors of the effectiveness of internal control,and there is a significant inverted U-shaped relationship between its strength and the effectiveness of internal control.This effect is mainly reflected in the control environment,risk assessment and control activities.At the same time,there is a substitution effect between high information transparency and high external audit quality with independent directors compensation incentives.