内控质量对实际控制人干预企业决策的影响——基于民营企业资产剥离效率的实证检验  

The Effect of Internal Control Quality on the Practical Controller’s Intervention in Enterprise Decision-making——An Empirical Test Based on the Efficiency of Asset Stripping of Private Enterprises

作　　者：曹满丹[1] 卢香君[2] CAO Mandan;LU Xiangjun(Ma’anshan Teachers College,Ma’anshan 243041,Anhui,China;Anhui University of Technology,Ma’anshan,243032,Anhui,China)

机构地区：[1]马鞍山师范高等专科学校,安徽马鞍山243041 [2]安徽工业大学,安徽马鞍山243032

出　　处：《安顺学院学报》2019年第5期115-121,共7页Journal of Anshun University

基　　金：安徽省高等学校人文社会科学研究重点项目“内部控制对中国民营企业控股股东行政干预的约束机制研究——基于资产剥离决策的实证检验”（项目编号：SK2018A0940）

摘　　要：文章探讨了民营企业不同股权集中度下,实际控制人与提升企业价值的资产剥离活动之间的关系,以及内部控制质量是否影响两者的关系。研究表明,股权高度集中,不管是否直接参与企业的经营管理,实际控制人倾向于促进提高企业价值的资产剥离活动,但是内部控制质量差会影响实际控制人的正确判断,作出降低企业价值的决策。股权分散的情况下,实际控制人可能与管理层合谋"盗取"公司利益,内部控制质量好能够缓解这个问题。内部控制质量高,有助于管理层做出提高企业价值的决策,有利于民营企业的健康发展,内部控制质量好坏会直接影响实际控制人对公司重大决策的干预。This paper was about the role the actual controller play on the asset divestiture activities which can improve the firm’s value according to different ownership concentration.We also investigate whether the quality of internal control affects the role.In our study.we found that if the ownership is highly concentrated,actual controllers of private companies will promote asset divestiture activities that increase the value of firms whether they.However,the poor quality of internal control will affect the judgment of the actual controller and make wrong decisions which may damage firm’s value.If the ownership is decentralized,the actual controller may conspire with managers to"steal"interests of the company,but high quality of internal control can alleviate this problem.All in all,good internal control design is influential on important decisions to improve firm’s value.The internal control quality affects the actual controller’s intervention in the company’s major decisions.

关 键 词：实际控制人 内部控制质量 资产剥离效率 

分 类 号：F295[经济管理—国民经济]