内部控制质量与银行资本充足率——来自我国上市银行的经验证据
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摘要
银行在国民经济中占据重要位置,但现有实证文献鲜有检验内部控制在银行业企业财务与经营决策中的作用及效果。从风险管理的视角出发,以2007—2014年我国16家上市银行为样本,考察了内部控制对银行资本充足率的影响。研究结果表明,高质量的内部控制可有效降低银行资本充足率,且该结果主要存在于资本充足率高于监管底限的样本。因此,加强银行系统内部控制建设对促进银行稳健经营、维持金融系统安全稳定以及提升金融系统整体效率都具有重要意义。
There are few empirical studies on the role of internal control in the operation and management decisions in the banking industry. This study has investigated the effect of internal control quality on bank capital adequacy ratio. Sampling from Chinese listed banks from 2007 to 2014,we find that high internal control quality can reduce the bank capital adequacy ratio. Further,the effect of internal control quality on the bank capital adequacy ratio mainly exists in the banks with a capital adequacy ratio above the minimum regulatory standards. Specifically,the reducing effect of internal control quality on the bank capital adequacy ratio is much more pronounced in privately-owned banks and the banks of a lower marketizing level. In addition to theoretical contribution,our findings have material implications for bank risk management and bank regulation.
There are few empirical studies on the role of internal control in the operation and management decisions in the banking industry. This study has investigated the effect of internal control quality on bank capital adequacy ratio. Sampling from Chinese listed banks from 2007 to 2014,we find that high internal control quality can reduce the bank capital adequacy ratio. Further,the effect of internal control quality on the bank capital adequacy ratio mainly exists in the banks with a capital adequacy ratio above the minimum regulatory standards. Specifically,the reducing effect of internal control quality on the bank capital adequacy ratio is much more pronounced in privately-owned banks and the banks of a lower marketizing level. In addition to theoretical contribution,our findings have material implications for bank risk management and bank regulation.
引文
池国华,2011:《中国上市公司内部控制指数的功能定位与系统构建》,《管理世界》第6期。
李万福、林斌、宋璐,2011:《内部控制在公司投资中的角色:效率促进还是抑制?》,《管理世界》第2期。
李万福、林斌、杨德明、孙烨,2010:《内控信息披露、企业过度投资与财务危机》,《中国会计与财务研究》第4期。
杨道广,2016:《“矫枉过正”抑或“合理管控”:内部控制在公司财务活动中的作用》,厦门:厦门大学学位论文。
杨道广、张传财、陈汉文,2014:《内部控制、并购整合能力与并购业绩---来自我国上市公司的经验证据》,《审计研究》第3期。
Altamuro,J.,and Beatty,A.2010,“How does internal control regulation affect financial reporting?”,Journal of Accounting and Economics,49:58-74.
Akhigbe,A.,and Whyte,A.M.2001,“The impact of FDICIA on bank returns and risk:evidence from the capital markets”,Journal of Banking and Finance,25:393-417.
Chen,H.,Dong,W.,Han,H.,and Zhou,N.2016,“A Comprehensive and Quantitative Internal Control Index:Construction,Validation,and Impact”,Review of Quantitative Finance and Accounting,Forthcoming.
Cheng,M,D.Dhaliwal,and Zhang,Y.2013,“Does investment efficiency improve after the disclosure of material weaknesses in internal control over financial reporting?”,Journal of Accounting and Economics,56(1):1-18.
Distinguin,I.,Roulet,C.,and Tarazi,A.2007,“Bank regulatory capital and liquidity:Evidence from US and European publicly traded banks”,Journal of Banking and Finance,37:3295-3317.
Gallemore,J.,and Labro,E.2015.“The importance of the internal information environment for tax avoidance”,Journal of Accounting and Economics,60(1):149-167.
Jin,J.Y.,Kanagaretnam,K.Lobo,G.J.,and Mathieu,R.2013,“Impact of FDICIA internal controls on bank risk taking”,Journal of Banking and Finance,37:614-624.
Jokipii,T.,and Milne,A.2008,“The cyclical behavior of European bank capital buffers”,Journal of Banking and Finance,32:1440-1451.
Mili,M.,et al.,2016,“Determinants of the capital adequacy ratio of foreign banks’subsidiaries:The role of interbank market and regulation”,Research in International Business and Finance,2016.02.02.
李万福、林斌、宋璐,2011:《内部控制在公司投资中的角色:效率促进还是抑制?》,《管理世界》第2期。
李万福、林斌、杨德明、孙烨,2010:《内控信息披露、企业过度投资与财务危机》,《中国会计与财务研究》第4期。
杨道广,2016:《“矫枉过正”抑或“合理管控”:内部控制在公司财务活动中的作用》,厦门:厦门大学学位论文。
杨道广、张传财、陈汉文,2014:《内部控制、并购整合能力与并购业绩---来自我国上市公司的经验证据》,《审计研究》第3期。
Altamuro,J.,and Beatty,A.2010,“How does internal control regulation affect financial reporting?”,Journal of Accounting and Economics,49:58-74.
Akhigbe,A.,and Whyte,A.M.2001,“The impact of FDICIA on bank returns and risk:evidence from the capital markets”,Journal of Banking and Finance,25:393-417.
Chen,H.,Dong,W.,Han,H.,and Zhou,N.2016,“A Comprehensive and Quantitative Internal Control Index:Construction,Validation,and Impact”,Review of Quantitative Finance and Accounting,Forthcoming.
Cheng,M,D.Dhaliwal,and Zhang,Y.2013,“Does investment efficiency improve after the disclosure of material weaknesses in internal control over financial reporting?”,Journal of Accounting and Economics,56(1):1-18.
Distinguin,I.,Roulet,C.,and Tarazi,A.2007,“Bank regulatory capital and liquidity:Evidence from US and European publicly traded banks”,Journal of Banking and Finance,37:3295-3317.
Gallemore,J.,and Labro,E.2015.“The importance of the internal information environment for tax avoidance”,Journal of Accounting and Economics,60(1):149-167.
Jin,J.Y.,Kanagaretnam,K.Lobo,G.J.,and Mathieu,R.2013,“Impact of FDICIA internal controls on bank risk taking”,Journal of Banking and Finance,37:614-624.
Jokipii,T.,and Milne,A.2008,“The cyclical behavior of European bank capital buffers”,Journal of Banking and Finance,32:1440-1451.
Mili,M.,et al.,2016,“Determinants of the capital adequacy ratio of foreign banks’subsidiaries:The role of interbank market and regulation”,Research in International Business and Finance,2016.02.02.