政府审计信息化如何发挥公司治理效应———基于国有企业盈余管理的视角

How does Government Audit Informatization Exert Corporate Governance Effect:From the Perspective of Earnings Management of State-owned Enterprises

以2008—2020年A股国有上市公司为研究样本,从国有企业盈余管理的视角实证检验政府审计信息化的公司治理效应。研究结果显示,政府审计信息化显著降低了国有企业真实盈余管理,而对国有企业应计盈余管理没有显著影响。中介机制检验显示,政府审计信息化可以通过发挥治理效应和资源效应抑制国有企业真实盈余管理。异质性检验发现,政府审计信息化对国有企业真实盈余管理的抑制效应在股权集中度和数字化转型程度较高的企业中更为明显。拓展性分析发现,媒体关注能够显著增强政府审计信息化对国有企业真实盈余管理的抑制作用,而管理层短视则会降低政府审计信息化对国有企业真实盈余管理的抑制作用。研究结论为审计机关借助信息化建设契机全面提高对国有企业的监督能力,从而降低国有企业管理层的机会主义动机提供有益借鉴。

The A-share state-owned listed companies from 2008 to 2020 are selected as the research sample to empirically test the corporate governance effect of government audit informatization from the perspective of earnings management of state-owned enterprises.The results show that the advancement of government audit informatization has noticeably reduced the occurrence of real earnings management in state-owned enterprises,but has no significant impact on the accrual earnings management of state-owned enterprises.The intermediary mechanism test shows that government audit informatization can inhibit the real earnings management of state-owned enterprises by exerting governance effect and resource effect.Heterogeneity test shows that the inhibitory effect of advancement of government audit informatization on real earnings management of state-owned enterprises is more significant in enterprises with high ownership concentration and high digital transformation degree.The extended analysis finds that media attention can significantly strengthen the inhibitory effect of government audit informatization on the real earnings management of state-owned enterprises,while the short-sightedness of management will reduce the inhibitory effect of government audit informatization on the real earnings management of state-owned enterprises.The conclusion can provide useful reference for audit institutions to comprehensively improve their supervisory ability to state-owned enterprises by means of information construction opportunity and thus to reduce the opportunism motivation of state-owned enterprise management.