上市公司制度环境、公司治理与会计信息风险探析  

An Analysis on the System Environment,Governance and Accounting Information Risk of Listed Companies

作　　者：王加灿[1] 许慧[1,2] 

机构地区：[1]中南财经政法大学会计学院,湖北武汉430073 [2]广东工业大学管理学院,广东广州510520

出　　处：《现代财经（天津财经大学学报）》2011年第12期75-84,共10页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

基　　金：湖南省哲学社会科学基金资助项目(2010YBB042)

摘　　要：信息风险是企业会计信息质量的重要衡量指标之一。本文从理论上分析了制度环境与公司治理对公司信息风险影响的方式与程度均不相同,并运用我国沪深上市公司1999-2006年的数据进行了多元回归分析等实证检验。实证发现:控股股东持股比例与信息风险的关系为先降后升的U型曲线趋势;董事会规模与信息风险负相关;信息风险分为固有信息风险和可操纵信息风险后,公司治理对固有信息风险的影响不显著,而对可操纵信息风险的影响显著;政府干预高的地区,内部公司治理效果更显著,即与信息风险的关系更为显著等。Information risk is one of the important balance indexes of accounting information quality of enterprises. In this paper, we make a theoretical analysis on the system environment and company governance, and it show that the effects of system environment and company governance upon information risk are different, and then make an empirical test with the data of listed compa- nies in Shanghai and Shenzhen from 1999 to 2006. It turns out that relations of company sharehold- er ratio and information risk is a U-shape curve, drop first and then increase; there is a negative relationship between board scale and information risk; when information risk is divided into inherent information risk and manipulatable information risk, the effect of corporate governance on the inherent information risk is not remarkable, while the effect on manipulatable information risk is re- markable; for the areas of higher governmental intervention, the effect of internal corporate governance is more remarkable, that is, the relationship with information risk is more remarkable.

关 键 词：制度环境 公司治理 信息风险 固有信息风险 可操纵信息风险 

分 类 号：F830.91[经济管理—金融学]