管理者权力、内部控制信息披露质量对研发支出的影响  

The Influence of the Managerial Power and the Quality of Internal Control Information Disclosure on the R&D Expenditure

作　　者：林煜恩 初昌玮 池祥萱 LIN Yue;CHU Changwei;CHI Xiangxuan(Center for Quantitative Economics,Jilin University,Changchun,Jilin,130012;School of Business,Jilin University,Changchun,Jilin,130012;Department of Finance,Taiwan Dong Hua University,Hualian,Taiwan,97047)

机构地区：[1]吉林大学数量经济研究中心,吉林长春130012 [2]吉林大学商学院,吉林长春130012 [3]台湾东华大学财务金融系,台湾花莲97047

出　　处：《管理学刊》2018年第4期47-62,共16页Journal of Management

基　　金：吉林大学廉政建设专项研究课题(017LZY020);吉林大学基本科研业务费(2017ZZ039);吉林大学"大学生创新创业训练计划"(2017A24060);台湾省科技部项目(105-2410-H-259-017-MY3)

摘　　要：利用2007—2015年我国上市公司数据,探讨管理者权力与内部控制信息披露质量和企业研发支出之间的关系,检验内部控制信息披露质量是否为管理者权力和研发支出的中介变量。结果表明:管理者权力越大,内部控制信息披露质量越高,且内部控制信息披露质量为管理者权力影响企业研发支出的中介变量;但传统行业的管理者权力对内部控制信息披露质量的影响不显著,不存在中介效应,而在高新技术行业,管理者权力越大,企业内部控制信息披露质量越高,且存在促进效应的中介路径。由于替换CEO会造成管理者权力发生变化,在进行倾向得分匹配检验之后发现,企业更换CEO与否,不会改变内部控制信息披露质量成为管理者权力促进企业研发支出的原因,且高新技术行业比传统行业更为显著。This paper explores the relationship between the management power and the quality of internal control information disclosure and R＆D expenditure based on a China listed company data and exanfines whether the quality of internal control information disclosure is an mediating variable or the managerial power and the R＆D expenditure. The study shows that the greater the managerial power is, the better the quality of internal control information disclosure is. And it is verified that the quality of internal control information disclosure is an mediating variable of the managerial power and the R＆D expenditure. While, for the traditional industries, the influence of the managerial power on the quality of the internal control information disclosure is not significant, and there is no mediating effect. For the high-tech industries, the greater the managerial power is, the better the quality of the internal control information disclosure is, and there exists an mediating path of promoting effect. The replacement of the CEO can result in the change of the managerial power. The PSM test shows that, with or without the replacement of CEO, the managerial power can promote the R＆D expenditure by the quality of the internal control information disclosure, which is more significant in the high-tech industries than in the traditional industries.

关 键 词：管理者权力 内部控制信息披露质量 研发支出 中介效应 倾向得分匹配 

分 类 号：F272.3[经济管理—企业管理]