审计管理体制改革与国有企业韧性——基于组建党委审计委员会的准自然实验

Reform of the Government Audit Management System and the Resilience of State-owned Enterprises:Based on a Quasi-natural Experiment on the Formation of an Audit Committee of the Party Committee

基于组建党委审计委员会这一准自然实验,以2007—2022年A股上市公司的经验数据为样本,构建多期DID模型实证检验审计管理体制改革对国有企业韧性的影响效应。研究结果表明,以组建党委审计委员会为重要举措的审计管理体制改革显著提高了国有企业韧性。影响机制检验发现,审计管理体制改革可以通过提高国家审计质量和国有企业劳动生产率、降低国有企业风险承担水平等路径提升国有企业韧性。调节效应检验发现,宏观层面的地区经济发展水平和创新能力以及微观层面的企业数字化转型和资源配置效率能够显著增强审计管理体制改革对国有企业韧性的促进效应。研究结论对于厘清组建党委审计委员会的微观治理效应、激发国有企业审计监督效能、提高国有企业韧性具有重要启示意义。

Based on the quasi-natural experiment of forming the audit committee of the Party committee,this paper takes the empirical data of A-share listed companies from 2007 to 2022 as a sample,and constructs a multi-phase difference-in-differences model to empirically test the impact of audit management system reform on the resilience of state-owned enterprises.The results of the study showed that:The reform of the audit management system,which takes the establishment of the audit committee of the Party committee as an important measure,has significantly improved the resilience of state-owned enterprises.The influence mechanism test found that:The reform of the audit management system can enhance the resilience of state-owned enterprises by improving the quality of national audits and labor productivity of state-owned enterprises,and reducing the level of risk bearing of state-owned enterprises.The results of the moderating effect test found that:The level of regional economic development and innovation ability at the macro level,as well as the digital transformation of enterprises and the efficiency of resource allocation at the micro level,can significantly enhance the promoting effect of the reform of the audit management system on the resilience of state-owned enterprises.The conclusions of this study are of great significance for clarifying the micro-governance effect of the establishment of the Party committee audit committee,stimulating the audit and supervision efficiency of state-owned enterprises,and improving the resilience of state-owned enterprises.