【作者】 张宏；

【导师】 李荣梅；

【作者基本信息】 辽宁大学 ， 会计学， 2018， 硕士

【摘要】 2017年以来,上市公司财务造假事件依旧频频发生。在2017年下半年,证监会加大了对上市公司的监管和违法事件的查处,对包括尔康制药在内的7家上市公司开出了罚单。此类事件的发生主要是由于公司的内部控制存在缺陷,这样不仅给公司自身带来危机,还会给金融市场带来很严重的影响。内部控制缺陷一般会通过两个方面来影响金融市场,一是公司绩效,二是信息披露。所以本文就公司内部控制缺陷与公司绩效的相关关系进行实证研究,以期给公司内部控制制度建设提供建议,实现公司自身的稳健发展。本文首先阐明了研究背景和研究意义,使用规范研究与实证研究相结合的方法,对国内外有关文献的进行梳理,并对相关理论进行归纳、整理和总结。采用规范研究方法分析其中的内在联系,并将委托—代理理论、信息不对称理论和信号传递理论当作是内控缺陷的研究理论,基于以上理论,采用实证研究的手段,把内部控制缺陷与公司绩效当成研究重点并提出相关假设,以深市主板和创业板上市公司2014-2016年的经验数据为研究样本,将净资产收益率(ROE)作为公司绩效的度量指标,将内部控制缺陷指标按不同严重程度分为三类作为解释变量,并将高管兼任情况、公司规模和资产负债率等作为控制变量,同时依据文献的研究构建多元回归模型,对其进行相关性分析、回归分析,并使用总资产收益率(ROA)替代净资产收益率(ROE)做稳健性检验,以此来检验公司内部控制存在缺陷对公司绩效是否具有显著性关系。实证分析显示,公司内控缺陷对企业绩效影响显著呈正向关系,且随着严重程度的加深,内部控制缺陷对企业绩效的负向关系越明显,创业板上市公司内控缺陷比深市主板内控缺陷对相应的企业绩效负向关系程度更明显,根据实证分析结果得出本文结论。并有针对性的提出以下建议:将公司内控缺陷披露内容标准化;完善自身内部控制制度的建设,提升经营效果;创业板上市公司应重视公司内部治理结构的建设。更多还原

【Abstract】 Since 2017,the financial frauds of listed companies have frequently occurred.In the second half of 2017,the China Securities Regulatory Commission stepped up investigation and investigation of listed company’s illegal activities,and issued a fine for seven listed companies,including The Ercon Pharmaceutical.The occurrence of such incidents is mainly due to the defects in internal control of the company.This not only brings crisis to the company itself,but also brings serious impact on the financial market.Internal control deficiencies generally affect the financial market through two aspects: corporate performance and information disclosure.Therefore,this article empirically studies the correlation between corporate internal control defects and corporate performance,with a view to providing advice on the internal control of the company and achieving the company’s own steady development.This paper clarifies the research background and significance,using standard research methods and empirical research of the relevant literature at home and abroad to read,and related theories summarize,organize and summarize.We use the normative research method to analyze the internal relations,and regard information asymmetry theory,and signal transmission theory as research theories of internal control defects.On this basis,the method of empirical research was used to consider the internal control defects and enterprise performance as Focused on the research and put forward relevant assumptions.Taking the experience data of Shenzhen-listed companies and GEM listed companies for the period 2014-2016 as research objects,ROE is used as a measure of corporate performance,and indicators of internal control defects are different severity levels are divided into three categories as explanatory variables,and the senior management status,company size,and asset-liability ratio are used as control variables.At the same time,multiple regression models are constructed based on previous research experience to perform correlation analysis and regression analysis.,And using ROA instead of ROE as a robustness test to test whether the defects in internal control of the company have a significant relationship with Enterprise performance.Empirical analysis shows that corporate internal control defects have a significant positive relationship with corporate performance,and as the severity deepens,the negative relationship between internal control defects and corporate performance is more pronounced.The internal control defects of GEM listed companies are worse than those of internal control of Shenzhen Stock Exchange.Correspondingly,the negative relationship between corporate performance is more obvious,and the conclusion of this paper is based on empirical analysis results.And making the following suggestions: Standardize the disclosure content of corporate internal control defects;Improve the construction of its own internal control system and improve its operating results;GEM listed companies should strengthen the construction of their own internal governance structure.更多还原