【作者】 周琳；

【导师】 吕长江；

【作者基本信息】 吉林大学 ， 企业管理， 2008， 博士

【摘要】 内部控制是目前国内外企业管理的热点难点问题,本文围绕企业经营战略研究了集团公司内部控制体系建立和实施的问题。本文研究的主要创新是在原有内部控制体系的基础上,引入企业经营战略的重要性,建立更加科学高效的内部控制体系框架,以适应日趋激烈的竞争环境,保障企业持续高效的发展,实现企业战略目标。本文研究的主要内容和结论:(1)结合文献研究和理论分析,提出建立战略导向的内部控制体系框架的科学性和有效性。(2)结合集团公司特征,探讨战略导向的内部控制体系框架实施的科学性和有效性。(3)为建立行之有效的内部控制体系框架,本文设计了战略导向的内部控制模型,提供了较完备的研究体系。(4)为证明其科学性,本文研究过程中引用了中国石油天然气股份有限公司建立的战略导向的内部控制体系框架,分析其存在的问题,对中国石油内部控制系统实施的有效性进行了论证。(5)本文通过研究发现,建立战略导向的内部控制体系框架,对企业经营发展尤其是集团公司经营发展具有深远的理论和实践意义。本文研究的主要特色和创新是在理论上对集团公司的内部控制、企业战略及企业价值进行了相关研究,提出了内部控制体系是战略管理的子系统,内部控制战略框架阶段是内部控制理论发展历史的新阶段,完成了战略导向的集团公司内部控制模型设计,并在实务中选取了中国石油天然气股份有限公司建立的战略导向的内部控制体系框架,进行案例分析和实施效果检验,进而,得到了比较翔实的研究结果。更多还原

【Abstract】 China National Petroleum Corporation (CNPC) has established a complicated internal control system to meet the related requirement of SOX. This paper is focus on the research of the relationship among the internal control of group companies, financial risk and enterprise value. Based on theoretical research, we proposed a strategy-oriented internal control model. Through our case analysis we found that the internal control system established by CNPC is consistent with our model. We also did an empirical study on the effectiveness of the CNPC’s internal control system.This paper fist reviewed the origin of internal control and then reviewed related literature on the cause of internal control and related empirical study. And then, we presented definition of internal control, principles in the implementation of internal control, the objectives, elements and significance of the internal control system. Through the review of the historical development of internal control we did a thorough clarification on the existence of internal control system and its theoretical argument. A sound internal control system can reduce financial risk thus improves business value. It is emphasized that an efficient and effective internal control system is crucial to the smooth operation of enterprise. Enterprise is a profit-oriented organization and is exposed to various risks in its operation. Financial risk is one of the risks around enterprise operation and an important risk source needs to be handled by enterprise. This paper introduced the concept of financial risk and analyzed its nature. We pointed that the financial risk management can improve the efficiency and effectiveness of enterprise’s financial activities and it can also enhance transparency of corporate financial systems thus enable a right direction of enterprise development to increase business value continuously.This paper proposed a strategy-oriented group companies’internal control model considering the theory of internal control and the special characteristics of group companies. The model consists of five elements, which we presented as follows:The first element is the internal environment. Group companies’internal environmental groups mainly refers to its culture, organizational structure, management system, as well as the management style of the parent company’s operation, philosophy of management, risk philosophy, risk preferences, control awareness. Efficient in mind can improve the cohesion and can overcome the problem of“free rider”to a certain extent. At the same time this mind can maintain the royalty of current members and can win the trust of new members. Therefore, the internal environment has attractions to external human recourse. Compared with a single law-person enterprise, due to the differences in the operational line, activities and life cycle between parent company, and subsidiaries, internal environment of group companies shows significant variances. In the implementation process of internal control, group companies should make a thorough analysis of the differences in the internal environment of subsidiaries in order to determine the optimal control procedures and control methods.The second element is the risk assessment. Due to the big size, complex levels of management and operational diversification, group companies tend to be insensitive to risk factors. This requires group companies establish a risk management departments, which is responsible for the identification of potential risks and its solutions. Parent company and its subsidiaries face respective risks so they employ different risk control methods. Compared with an one-person company, the risks faced by subsidiaries of show significant externalities, that is the parent company can transfer risk from one subsidiary to another since group companies are concerned with the risk on the whole level. Therefore, based on the risk control of subsidiaries, parent company should reconsider the risk factors and control the overall risk within acceptable level.The third element is capital controls. Group companies control its subsidiaries through capital control. In order to maintain the interests as a whole, group companies must strengthen the controls in the operational activities of its subsidiaries to improve the overall financial condition. Parent company should control financial management and capital flow of its subsidiaries. In the routine controls, financial control is the focus. According to financial control and principal-agent control, group companies should design a property-based incentive system to achieve goal congruence and the maximization of capital value.The fourth element is the communication system. A good communication system will enable enterprise get information about the operational results and enable management get decision-making related information timely. Compared with one-person company, group companies have complicated organizational structure with more serious obstruction of information and insufficient information supply. By focusing on the information dimension, communication system can make a more effective identification and evaluation of risks. Information processing capabilities determine the company’s operational cost-effectiveness. We believe that information management departments, which is responsible for the identification of potential risks and its solutions. Parent company and its subsidiaries face respective risks so they employ different risk control methods. Compared with an one-person company, the risks faced by subsidiaries of show significant externalities, that is the parent company can transfer risk from one subsidiary to another since group companies are concerned with the risk on the whole level. Therefore, based on the risk control of subsidiaries, parent company should reconsider the risk factors and control the overall risk within acceptable level.The third element is capital controls. Group companies control its subsidiaries through capital control. In order to maintain the interests as a whole, group companies must strengthen the controls in the operational activities of its subsidiaries to improve the overall financial condition. Parent company should control financial management and capital flow of its subsidiaries. In the routine controls, financial control is the focus. According to financial control and principal-agent control, group companies should design a property-based incentive system to achieve goal congruence and the maximization of capital value.The fourth element is the communication system. A good communication system will enable enterprise get information about the operational results and enable management get decision-making related information timely. Compared with one-person company, group companies have complicated organizational structure with more serious obstruction of information and insufficient information supply. By focusing on the information dimension, communication system can make a more effective identification and evaluation of risks. Information processing capabilities determine the company’s operational cost-effectiveness. We believe that information for other elements of the control elements. In short, any single control element can not operate without each other. Five control elements work as a whole can achieve the internal control objectives.Considering the characteristics of the group organization this paper divided the strategy-oriented internal control model into four levels. From top to bottom, the four levels are monitoring level, management level, department level and unit level.Monitoring level is the highest level of internal control model. The strategy management of this level is set according to the overall strategy objectivities of the enterprise. The strategy management of management level is relatively independent to achieve overall goal. The strategy of this level must serve for the overall goal and make way for the company’s overall strategy when necessary. The strategy of department level is that various department at this level is responsible for the human and material resources within its control. This level needs to resolve talent strategy, technology development, marketing strategy, as well as funding strategy. The strategy management of unit level is to ensure that the tasks assigned by upper level are completed appropriately.In order to evaluate the implementation result of strategy-oriented internal control model, this paper selected the internal control system of China National Petroleum Corporation, whose internal control system is consistent with our model.CNPC prepared for the internal control system improvement from the end of 2003 and implemented the improved system early 2006. The internal control improvement involved three stages: the initial planning stage, and gradually implemented and feedback tests stage, fully operational phase. In this paper, we take the North China Division of CNPC as our research focus. Through our empirical study it is found that the implementation of strategy-oriented internal control system improved the financial indicators including liquidity, assets management and profitability significantly thus improved business value.更多还原