资本预算约束对监管绩效的影响研究——预算目标特征的调节作用  

Research on the Impact of Capital Budget Constraint on Supervisory Performance-The Moderating Effect of Budget Target Characteristics

作　　者：杨水利[1] 牛群 田野 YANG Shui-li;NIU Qun;TIAN Ye

机构地区：[1]西安理工大学经济与管理学院,陕西西安710054

出　　处：《生产力研究》2021年第5期141-145,I0002,共6页Productivity Research

基　　金：国家社会科学基金重大项目“国有企业监督制度改革与创新研究”(17ZDA087)。

摘　　要：国有企业是国有资本的承载实体,国资预算从行为和价值角度强化对国有企业的激励约束,通过预算制衡机制实现国资收益统筹、收入支出协同与资本优化配置,是出资人实现“管资本”的重要手段。从预算全过程视角研究资本预算和监管绩效的关系和作用机理,检验了预算目标特征在预算约束和监管绩效间的调节作用。基于292家国有企业的数据进行实证分析,结果表明:资本预算约束和监管绩效呈显著的正相关关系;预算目标特征正向调节资本预算约束与监管绩效。State-owned enterprises are the carrying entities of state-owned capital.State-owned budgets strengthen the incentive and restraint of state-owned enterprises from the perspective of behavior and value.Through the budget check and balance mechanism,the realization of the overall planning of state-owned assets,the coordination of revenue and expenditure,and the optimal allocation of capital is an important means for investors to achieve"capital management".From the perspective of the entire budget process,it studies the relationship and mechanism of capital budgeting and regulatory performance,and examines the role of budget objective characteristics in regulating budget constraints and regulatory performance.An empirical analysis based on the data of 292 stateowned enterprises shows that:capital budget constraints and regulatory performance are significantly positively correlated;budget target characteristics positively regulate capital budget constraints and regulatory performance.

关 键 词：国有资本经营预算 预算目标特征 监管绩效 

分 类 号：F276.1[经济管理—企业管理]