机构投资者调研与上市公司内部控制有效性  

Institutional Investors’ Corporate Site Visits and the Effectiveness of Internal Control

作　　者：杨侠 马忠[1] YANG Xia;MA Zhong(School of Economics and Management,Beijing Jiaotong University,Beijing 100044,China)

机构地区：[1]北京交通大学经济管理学院

出　　处：《中南财经政法大学学报》2020年第1期13-25,158,共14页Journal of Zhongnan University of Economics and Law

基　　金：中央高校基本科研业务费专项资金项目“国企集团股权多元化、融资结构与公司治理有效性研究”(2018YJS059)

摘　　要：本文以2013~2017年深圳证券交易所的A股上市公司为样本,探讨了机构投资者调研对上市公司内部控制有效性的影响,研究发现:机构投资者调研能够显著提升上市公司内部控制的有效性;在制造业公司和信息环境较差的公司中,机构投资者调研对内部控制有效性的提升作用更明显;机构投资者调研能够促使公司规范其经营行为,提高会计信息质量,从而促进内部控制合规目标和报告目标的实现。本文的研究结论为进一步优化投资者调研制度,积极发挥机构投资者的治理作用提供了参考。Based on the data of Listed Companies in Shenzhen Stock Exchange from 2013 to 2017,this paper explores the relationship between the institutional investors’ corporate site visits and the effectiveness of internal control.The results show that institutional investors’ corporate site visits can significantly improve the effectiveness of internal control;moreover,in manufacturing companies or companies with poor information environment,institutional investors’ corporate site visits play a more significant role in improving the effectiveness of internal control.Further tests show that institutional investors’ corporate site visits can promote companies to reduce irregularities,improve the quality of accounting information,and thus help them to achieve the internal control objectives of operational compliance and financial report.The conclusions of this study provide a reference for further promoting the investors’ corporate site visit activities and encouraging institutional investors to participate more actively in corporate governance.

关 键 词：机构投资者调研 内部控制有效性 制造业公司 信息环境 

分 类 号：F239.45[经济管理—会计学]