股权结构、内部控制质量与企业创新绩效--基于中国文化类上市公司的经验证据  

Ownership Structure,Internal Control Quality and Enterprise Innovation Performance--Empirical Evidence from Chinese Cultural Listed Companies

作　　者：李香梅[1] 王舒然 李红倩 LI Xiang-mei;WAGN Shu-ran;LI Hong-qian(Shandong University of Finance and Economics,Jinan 250014,China;China Agricultural University,Beijing 100083,China;Goertek Inc.Weifang 261000,China)

机构地区：[1]山东财经大学会计学院,山东济南250014 [2]中国农业大学,北京100083 [3]歌尔股份有限公司,山东潍坊261000

出　　处：《聊城大学学报（社会科学版）》2021年第5期74-82,共9页Journal of Liaocheng University:Social Science Edition

基　　金：国家社会科学基金规划一般项目(20BGL073):国企混合所有制改革中公司治理对企业创新的多维影响机制与效应研究;山东省社会科学规划研究项目(21CJJJ19):区块链技术下供应链金融生态化创新及风险管理研究。

摘　　要：选取2012-2017年沪深文化类上市公司为初始样本,检验内部控制质量对创新绩效的影响以及股权结构对该影响的调节作用,实证结果发现,内部控制质量与创新绩效显著正相关,且股权结构对内部控制质量与创新绩效间的关系存在一定的调节作用。具体而言,股权集中度负向调节两者间的关系;股权制衡度未能对两者间关系产生显著影响;相较于国有文化企业,非国有文化企业中内部控制质量对创新绩效的促进作用更显著;进一步研究结果显示,良好的内部控制能有效促进创新活动对企业绩效的提升作用。因此,应进一步优化股权结构,实现相对多元化的股权制衡机制,同时积极构建并严格执行完善的"软""硬"相结合的内部控制体系,通过发挥内部控制的治理效应有效提升文化企业的创新绩效。This paper studies the influence mechanism of internal control quality on the enterprise innovation performance and examines the regulating effect of ownership structure by data of Chinese cultural listed companies from 2012 to 2017. Empirical results show that the internal control quality can significantly improve innovation performance. Meanwhile,the regulating effect of ownership structure is verified. Specifically,ownership concentration performs a negative role in moderating the relationship. But ownership control shows no significant influence. Compared to the state-owned cultural enterprises, the relationship in the non-stateowned cultural enterprises is more significant. Further study found that the better quality of internal control promote the positive impact of innovation output on enterprise performance.Therefore, we should further optimize the ownership structure, achieve a relatively diversified shareholder structure, and actively construct and strictly enforced the internal control mechanism which combined the"soft"and"hard"elements to enhance the innovation performance through the normative function of internal control.

关 键 词：股权结构 内部控制质量 创新绩效 

分 类 号：F272[经济管理—企业管理]