摘要
本文选取了2002-2006年间的465家发生了与盈余相关的会计差错更正和1147家未曾发生会计差错更正的非金融上市公司为样本,考察了与盈余相关的会计差错的发生同公司治理的关系,发现在治理会计错报行为方面,证监会所提倡的独立董事制度是有效的,外部独立审计的质量也是保证公司财务信息质量的重要一环,审计委员会的作用内生于其它公司治理机制。此外,外部股东的监管也是降低管理者机会主义行为的有效措施。由于国有控股的公司更可能发生与盈余相关的会计错报现象,所以,应该强制国有企业建立有效的公司治理,提高独立董事在董事会中的比重,保证董事会的独立性,加强外部审计师的监督作用。
Corporate Governance plays a very important role in modern economy society.Therefore, Chinese Securities Regulatory Commission （CSRC） urges listed companies to set up governance mechanisms such as independent Director and Audit Committee to prevent from financial frauds in 2001.But are these mandatory governance mechanisms effective？ Previous studies test the effectiveness of corporate governance mostly by the performance of the company.However, because of the factors that impact on company performance are not only manifold but in volute, and many of those are not controllable by the managers, it is not strange that conclusions are not consistent with each other.This paper uses financial reports restatement to test the effectiveness of corporate governance.Because the occurring of opportunism accounting errors is directly related to bad corporate governance, and usually the result of failure corporate governance, therefore, it is an important and feasible way to research the effectiveness of corporate governance via the restatement of financial report.In this paper we investigate associations between accounting restatements and corporate governance via a sample of 1147 listed-companies during the period of 2002-2006, which includes 880 annual accounting restatements from 465 companies.The restatements are caused by performance relative accounting errors.We find that accounting misstatements relative with performance are prevented by strong internal governance, such as the boards owned more outside directors and an audit committee that should oversee the accounting and financial reporting process on behalf of shareholders; and outside governance, such as a big private stockholders and a strong outside auditor from the 4 biggest international accounting companies.But after using paired sample, the testing results show that the effect of audit committee on governing accounting errors is endogenous, that is, it depends on the effectiveness of other corporate governance.We also find that the firms controlled dir
出处
《南开管理评论》
CSSCI
北大核心
2010年第5期45-52,共8页
Nankai Business Review
基金
国家自然科学基金(70602026)资助
关键词
股权结构
公司治理
财务报表重述
Ownership Structure
Corporate Governance
Financial Restatement
