摘要
本文利用中国上市公司的关联交易和内部控制数据,采用混合回归方法,发现内部控制缺陷和关联交易正相关:存在内部控制缺陷的公司,其关联交易的金额、次数和比例更高。将关联交易分类为效率促进类的正常关联交易、掏空类异常关联交易,发现公司内部控制缺陷对异常关联交易的影响要比正常关联交易的影响更大。还采用具有准自然实验性质的双重差分方法,利用上市公司内部控制缺陷整改事件研究了内部控制缺陷整改前后上市公司关联交易的差异,研究发现:存在内部控制缺陷的公司整改后,异常关联交易显著减少而正常关联交易不受该整改行为的影响。研究表明,良好的内部控制制度能够抑制异常关联交易的发生,能够授权效率促进类正常关联交易的实施。
This paper uses pooled model and finds that internal control weakness is positively related to related party transaction in quantity, numbers and ratio. This paper also divides related party transaction by different functions in- to efficiency enhancing and tunneling, and finds that internal control weakness can make a bigger influence on tun- neling rather than efficiency enhancing. This paper then employs difference - in - difference model to test the re- sults above. It shows that the remedy of internal control weakness can affect related party transaction as tunneling decreasing while it does not affect related party transaction as efficiency enhancing.
出处
《审计研究》
CSSCI
北大核心
2016年第5期89-97,共9页
Auditing Research
基金
国家自然科学基金项目(项目批准号:71262003、71562014)的阶段性成果
关键词
内部控制
关联交易
效率促进
掏空
internal control, related party transaction, efficiency enhancing, tunneling
