高质量内部控制能有效应对特质风险和系统风险吗?  

Can High Quality Internal Control Effectively Respond to Idiosyncratic Risk and Systematic Risk?

作　　者：方红星[1] 陈作华[2] 

机构地区：[1]东北财经大学会计学院/中国内部控制研究中心,116025 [2]青岛农业大学经济与管理学院,266019

出　　处：《会计研究》2015年第4期70-77,96,共8页Accounting Research

基　　金：教育部人文社会科学重点研究基地重大项目(2009JJD790005)的阶段性成果;财政部"全国会计领军人才特殊支持计划"的资助

摘　　要：着眼于从应对公司风险的角度探究内部控制的经济后果,本文深入分析了内部控制应对公司特质风险和系统风险的作用机理,并以2009-2011年沪深两市主板A股上市公司为研究样本,对内部控制能否有效应对特质风险和系统风险进行了实证检验。理论分析和实证结果表明,内部控制质量越高,就越能有效抑制特定因素的发生,使得特质风险水平降低;内部控制质量越高,防御能力越强,应对经济因素或市场因素变动的能力就越强,就越能有效弱化外部因素的冲击,进而使得系统风险水平显著降低。本文不仅揭示了内部控制在风险管理方面发挥作用的内在机理,也为我国上市公司内部控制及相关监管政策的实施效果检验积累了新的经验证据。In order to explore the economic consequences of internal control from the perspective of reducing corporate risk,this paper analyses the inner mechanism about how internal control respond to the idiosyncratic risk and systematic risk,and then tests it empirically by using A-shares companies listed on the Shanghai and Shenzhen main board from 2009 to 2011 as samples. The theoretical analysis and empirical results show that the higher internal control quality,internal control system can be more effectively prohibiting the incidence of idiosyncratic risk,and the idiosyncratic risk will be lower. At the same time,the higher internal control quality,the defensive power of internal control system will be more higher,and the company will be more effectively coping with the changing of economy-wide factors or market-wide factors and weakening the impact of external whole factors,and the systematic risk will be significantly lowered. This paper doesn't only reveal the inner mechanism about how internal control affect the risk management,but also provides new empirical evidence for the implementation effect of China's listed companies' internal control and relevant regulatory policies.

关 键 词：内部控制 特质风险 系统风险 

分 类 号：F275[经济管理—企业管理]