股权结构与内部控制效果:来自沪深两市的证据  

Ownership Structure and Internal Control:Evidence from Listed Companies in China

作　　者：赵渊贤[1] 胡向丽 

机构地区：[1]湖北经济学院 [2]文华学院

出　　处：《财会通讯（上）》2015年第8期25-28,共4页Communication of Finance and Accounting

摘　　要：企业内部控制实施效果受到内外部各种因素的影响,股权结构作为公司治理的重要部分,会对显著影响到内部控制实施效果。本文以我国2009年-2013年沪深两市上市公司为样本,实证分析了股权结构对上市公司内部控制有效性的影响。结果表明,控股股东持股比例与企业内部控制效果显著正相关,但在国有上市公司里这种相关性不显著;经营者持股比例与上市公司内部控制效果显著负相关;在国有上市公司,终极控股股东的两权分离程度与公司内部控制效果呈显著正相关性,而在非国有上市公司终极控股股东的两权分离程度则与企业内部控制效果显著负相关。Enterprise internal control effect is affected by the internal and external factors,equity structure as an important part of corporate governance,will significantly affect the internal control effect.Based on the listed companies in China from 2009 to 2013 as samples,it conducts an empirical analysis on the influence of equity structure on the effectiveness of the internal control of listed compa nies.The results show that the controlling shareholder's stake is significant positive correlation with the enterprise internal control effect,but this correlation was not significant in state-owned listed companies.Operator shareholding has a significant negative correlation with the effect of the internal control of listed companies.In state-owned listed companies,the two rights separation degree of the ultimate controlling shareholders has significant positive correlation with the company's internal control effect,and in non-state-owned listed companies,the two rights separation degree of the ultimate controlling shareholders and the enterprise internal control effect is present a significant negative correlation relationship.

关 键 词：内部控制效果 产权性质 控股股东持股比例 经营者持股比例 机构投资者持股比例 

分 类 号：F275[经济管理—企业管理] F832.51[经济管理—国民经济]