国家审计能否抑制非金融国有企业影子银行业务?

Can National Audit Restrain Shadow Banking Business of Non-financial State-owned Enterprises?

抑制非金融国有企业开展影子银行业务,促进实体企业脱虚向实,推动实体经济发展,是新形势下国家审计的内在要求。选取2008-2018年非金融上市国有企业及其下属上市子公司作为研究样本,利用多重差分模型,验证了国家审计对非金融国有企业影子银行业务具有抑制效应,并且,国家审计通过连续监督和国家审计公告发挥抑制作用,且企业信息披露质量在抑制非金融国有企业影子银行业务过程中发挥中介作用。进一步研究发现,国家审计在内部控制水平更高、融资约束更强以及“子强母弱”型的非金融国有企业中对影子银行业务产生的抑制作用更为显著,审计协同机制对非金融国有企业影子银行业务产生的抑制效应更显著。

Restraining non-financial state-owned enterprises from carrying out shadow banking business,promoting real enterprises from virtual to real,and promoting the development of real economy are the internal requirements of national audit under the new situation.In this paper,non-financial state-owned listed enterprises and their subsidiaries from 2008 to 2018 are selected as research samples,and the multiple-difference model is used to verify the inhibitory effect of national audit on non-financial state-owned enterprises shadow banking business.Moreover,it focuses on verifying the inhibition effect of national audit on non-financial state-owned enterprises shadow banking business through continuous supervision,announcement of audit results and improvement of enterprise information disclosure quality.At the same time,in the further study,the national audit has a more significant inhibitory effect on the shadow banking business in the non-financial state-owned enterprises with stronger internal control and financing constraints,as well as the“child strong and mother weak”type.The audit coordination mechanism has a pronounced inhibitory effect on the shadow banking business of non-financial state-owned enterprises.