女性高管、内部控制与财务舞弊

Female Executives,Internal Control and Financial Fraud

文章选取2014年至2018年间因发生过虚增(减)利润或资产财务舞弊行为而受到中国证监会、上交所和深交所公告处罚的A股非金融类上市公司作为舞弊样本,对女性高管与财务舞弊关系以及女性高管、内部控制与财务舞弊关系进行研究。实证结果表明,女性高管背景特征与企业财务舞弊呈负相关关系;内部控制分别对女性高管年龄、女性高管学历与企业财务舞弊关系产生中介效应;进一步研究发现女性高管任期与内部控制之间呈倒“U”型关系、内部控制与财务舞弊呈负相关关系。

This paper selects A-share non-financial listed companies that were announced and punished by China Securities Regulatory Commission,Shanghai Stock Exchange and Shenzhen Stock Exchange due to false increase(decrease)of profits or financial fraud of assets from 2014 to 2018 as fraud samples to study the relationship between female executives and financial fraud,as well as the relationship between female executives,internal control,and financial fraud.The empirical results show that the background characteristics of female executives were negatively correlated with corporate financial fraud;Internal control had a mediating effect on the relationship between female executives age,their education and corporate financial fraud.It is also found that there was an inverted“U”relationship between female executives tenure and internal control,and there was a negative correlation between internal control and financial fraud.