【摘要】 本文以2013-2017年沪深A股主板上市公司为样本,实证研究了内部控制缺陷对融资约束的影响,审计师意见对融资约束的影响以及审计师意见对内部控制缺陷影响融资约束的传导作用。实证结果表明,存在内部控制缺陷的企业与不存在内部控制缺陷的企业相比,前者有较高的融资约束,并且随着企业内部控制缺陷程度的增加,企业将面临更高的融资约束;审计师出具非标内部控制审计意见与企业融资约束成正相关作用。进一步研究后发现,在审计师出具了非标内部控制审计意见的传导作用下,内部控制缺陷与融资约束之间的正相关作用进一步增加。本研究丰富了内部控制缺陷与融资约束的研究成果,对于探索内部控制缺陷和审计意见影响融资约束的作用机理以及加强内部控制建设与缺陷修复等具有积极理论意义和实践价值。更多还原

【Abstract】 Vising companies listed on Shanghai Stock Exchange and Shenzhen Stock Exchange from 2013 to 2017,we empirically examine the impacts of internal control weakness on financing constraints,the impact of auditors’ opinions on financing constraints,and the transmission of auditors’ opinions on internal control weakness affecting financing constraints.The results show that companies with internal control weakness have higher financing constraints,and with the increasing degree of internal control weakness,enterprises will face higher financing constraints;The auditor’s non-standard internal control audit opinion is positively related to corporate financing constraints.After further research,it was found that under the influence of the non-standard audit opinions issued by the auditors,the positive correlation between internal control weakness and financing constraints further increased.This research enriches the results of the relationship between internal control weakness and financing constraints. It has positive theoretical significance and practical value for exploring the internal control weakness and auditing opinions affecting the financing constrains and strengthening internal control weakness contruction and weakness revise.更多还原