中国上市公司内部控制指数:逻辑、构建与验证
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摘要
如何评价企业内部控制日益成为包括投资者在内的广大利益相关者所共同关心的焦点。以财务报告内部控制审计意见作为衡量标准存在固有局限,现有内部控制指数又存在逻辑不一、结果迥异的弊端。为此,论文基于"是什么——如何衡量——衡量得如何"的总体逻辑,构建并验证了一套理念清晰、指标全面、应用广泛的上市公司内部控制指数。首先,在解析内部控制内涵的基础上提出两种可供选择的指数构建理念——"过程观"与"目标观",继而论证了以"过程观"为指数构建理念的合理性;然后,详细介绍该指数的指标体系与计算过程,并从现实和实证两个角度进行了验证;最后,对与指数相关的常见疑问进行了回应,并指明了利用该指数未来可开展实证研究的机会与方向。
It has been a concern shared by shareholders including investors as how to evaluate the quality of internal control. The methodology relying on internal control audit opinion has intrinsic limitations, and current internal control indexes lack in consistent logic and generate different outcomes. Therefore, this paper follows the logic of "what're they-how to measure them-how well they're measured" to construct and validate a set of internal control indexes with clear concepts, comprehensive measurements, and promising application prospects.Specifically, it first suggests two alternative views, from Processes, and from Targets, which can be used to design internal control indexes after in-depth analyses on the connotation of internal control, and then proves the rationality of the former view. Second, it introduces the measurement system and process, and then validates the indexes from the reality and empirical findings. Finally, it responds to common questions on the indexes and indicates the opportunity and direction of using the indexes to conduct empirical studies.
It has been a concern shared by shareholders including investors as how to evaluate the quality of internal control. The methodology relying on internal control audit opinion has intrinsic limitations, and current internal control indexes lack in consistent logic and generate different outcomes. Therefore, this paper follows the logic of "what're they-how to measure them-how well they're measured" to construct and validate a set of internal control indexes with clear concepts, comprehensive measurements, and promising application prospects.Specifically, it first suggests two alternative views, from Processes, and from Targets, which can be used to design internal control indexes after in-depth analyses on the connotation of internal control, and then proves the rationality of the former view. Second, it introduces the measurement system and process, and then validates the indexes from the reality and empirical findings. Finally, it responds to common questions on the indexes and indicates the opportunity and direction of using the indexes to conduct empirical studies.
引文
陈汉文,张宜霞. 2011.企业内部控制的有效性及其评价方法[J].审计研究(3):48-54.
杨道广.2016.内部控制在公司财务活动中的作用:“矫枉过正”抑或“合理管控”?[D].厦门大学博士学位论文.
杨道广,陈汉文.2013.内部控制、制度环境与股票流动性[J].经济研究(S1):132-143.
周守华,胡为民,林斌,刘春丽.2013. 2012年中国上市公司内部控制研究[J].会计研究(7):3-12.
Chen, H., Dong, W., Han, H., et al. 2017a. A comprehensive and quantitative internal control index:construction, validation, and impact[J]. Review of Quantitative Finance and Accounting, 49(2):337-377.
Chen, H., Yang, D., Zhang, X., et al. 2018. The moderating role of internal control in tax avoidance:Evidence from a COSO-based internal control index in China[J]. The Journal of the American Taxation Association, forthcoming.
Chen, J., Chan, K. C., Dong, W., et al. 2017b. Internal control and stock price crash risk:evidence from China[J]. European Accounting Review, 26(1):125-152.
Doyle, J., Ge, W., McVay, S. 2007. Accruals quality and internal control over financial reporting J]. The Accounting Review, 82(5):1141-1170.
Feng, M., Chan, L., McVay, S. E., et al. 2015. Does ineffective internal control over financial reporting affect a firm's operations?Evidence from firms'inventory management[J]. The Accounting Review, 90(2):529-557.
(1)“内部控制好坏”“内部控制质量”“内部控制水平”“内部控制有效性”将互用。
杨道广.2016.内部控制在公司财务活动中的作用:“矫枉过正”抑或“合理管控”?[D].厦门大学博士学位论文.
杨道广,陈汉文.2013.内部控制、制度环境与股票流动性[J].经济研究(S1):132-143.
周守华,胡为民,林斌,刘春丽.2013. 2012年中国上市公司内部控制研究[J].会计研究(7):3-12.
Chen, H., Dong, W., Han, H., et al. 2017a. A comprehensive and quantitative internal control index:construction, validation, and impact[J]. Review of Quantitative Finance and Accounting, 49(2):337-377.
Chen, H., Yang, D., Zhang, X., et al. 2018. The moderating role of internal control in tax avoidance:Evidence from a COSO-based internal control index in China[J]. The Journal of the American Taxation Association, forthcoming.
Chen, J., Chan, K. C., Dong, W., et al. 2017b. Internal control and stock price crash risk:evidence from China[J]. European Accounting Review, 26(1):125-152.
Doyle, J., Ge, W., McVay, S. 2007. Accruals quality and internal control over financial reporting J]. The Accounting Review, 82(5):1141-1170.
Feng, M., Chan, L., McVay, S. E., et al. 2015. Does ineffective internal control over financial reporting affect a firm's operations?Evidence from firms'inventory management[J]. The Accounting Review, 90(2):529-557.
(1)“内部控制好坏”“内部控制质量”“内部控制水平”“内部控制有效性”将互用。