公司制衡机制与财务舞弊:来自我国证券市场的经验证据

本文采用Logistic模型对我国2002~2004年A股财务舞弊公司的内部制衡、独立审计与政府监管制衡机制进行了研究。结果发现:公司股东大会出席率与财务舞弊负相关,董事会规模与财务舞弊负相关;独立董事比例、监事会规模、董事长与总经理两职合一对财务舞弊并无显著影响;资产审计费用率与财务舞弊正相关;上年度财务报告审计意见差、上年度股票被特别处理的公司财务舞弊可能性较大。

Corporate Governance Mechanisms and Financial Fraud:Empirical Evidence from China's Stock Market

This study empirically tests the corporate governance mechanism characters of China's A-shares financial fraud listed companies between 2002 and 2004. Results from logistic regression analysis indicates that: the relationship between the presence percentages of shareholder's meeting, board of director and the likelihood of financial fraud is negative; the proportion of independent directors, the size of supervisory board and the duality(chairman of the BOD is CEO) have no significantly effect on the likelihood of financial fraud; the ratio of audit fees to total assets is positive related to the likelihood of fraud; corporate with audit opinion is bad or share have been special treated in last year has higher probability of financial fraud.