我国内部控制强制披露政策的干预效应研究 ——来自断点回归的经验证据

聚焦我国非国有控股主板上市公司,严格筛选样本,构造精确断点回归模型,专注研究我国全面内部控制评价和披露政策本身的因果干预效应。研究发现,我国的内部控制强制披露政策有正的干预效应,内部控制政策的实施使得公司对资源的利用效率和效果得以提高,合规本身对企业来讲意义重大。建议进一步推进我国上市公司全面内部控制建设和披露工作,将强制实施范围扩展到非主板上市公司,在全部上市公司范围内实施内部控制强制披露和审计。

The Causal Effects of Internal Control Compulsory Disclosure Policy:Empirical Evidence from Regression Discontinuity Analysis

Based on strictly constructed samples,this paper focuses on non-state-holding listed companies of the main board in China,designs a sharp regression discontinuity model,and studies on the causal effects of the compulsory policy of comprehensive evaluation and disclosure of internal control.The study finds that China's compulsory policy has a positive treatment effect.Compliance itself is of great significance to enterprises because of the policy pressure.This also paper proposes to further promote the construction and disclosure of the overall internal control of listed companies in China,expand the scope of compulsory implementation to non-main-board listed companies,and implement compulsory disclosure and audit of internal control within the scope of the whole listed companies.