高管海外背景、企业内部控制质量与股利分配

Senior Executives Overseas Background, Corporate Internal Control Quality and Dividend Distribution

文章以2008~2018年沪深A股上市公司董监高个人特征数据和财务数据对高管海外背景、内部控制质量与股利分配三者关系进行了研究。研究结果表明,企业董事会拥有的具备海外背景的成员比例越高,上市公司更加倾向于分配股利和提高股利支付水平;内部控制质量与股利分配倾向显著正相关,但内部控制质量与股利分配水平显著负相关;董事会具备海外背景成员比例越高,公司的内部控制质量越高。

Based on the personal characteristics and financial data of DongJianggao from 2008 to 2018, this paper studies the relationship among executives’ overseas background, internal control quality and dividend distribution. The results show that the higher the proportion of board members with overseas background, the more inclined the listed companies are to distribute dividends and improve the level of dividend payment. The quality of internal control has a significant positive correlation with dividend distribution tendency, while the quality of internal control has a significant negative correlation with dividend distribution level. The higher the proportion of board members with overseas background, the higher the quality of the company’s internal control.