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以2008~2014年上市公司为研究对象,考察转型经济环境下终极控制人性质如何影响内部控制缺陷及其修复与企业风险之间的关系。研究发现,内部控制缺陷越大,企业风险越高,但缺陷修复能显著降低企业风险;进一步研究发现,国有企业比民营企业的风险程度显著更小,但相对央企而言,地方国有企业更容易出现风险,尤其在治理环境差的地区,地方国企的风险程度显著更高。研究表明,不同的终极控制人性质导致了企业内部控制缺陷对企业风险的不同影响,这既为深化国有企业改革提供经验证据,也进一步昭示强化企业内部控制风险免疫功能的重要性与紧迫性。
Taking the listed companies from 2008 to 2014 as the research object, this paper examines how the nature of the ultimate controller in a transitional economy affects the relationship between the defects of internal control and the remediation and corporate risk. The study found that the larger the internal control deficiencies, the higher the corporate risk, but the defect repair can significantly reduce business risk; further study found that the degree of risk of state-owned enterprises is significantly smaller than private enterprises, but the relative state-owned enterprises, local state-owned enterprises more easily Risks, especially in poorly managed areas, are significantly higher for local SOEs. The research shows that the different nature of the ultimate controller has led to the different effects of the defects of internal control on the corporate risk. This not only provides empirical evidence for deepening the reform of state-owned enterprises, but also further demonstrates the importance and urgency of strengthening the risk-immune functions within the enterprise.