内部控制影响国有企业竞争优势的中介效应研究

本文以2012—2019年国有上市公司为研究对象，基于公平竞争的市场环境持续改善的背景，实证研究内部控制对国有企业竞争优势的影响及作用机理。本文通过构建多元回归模型检验内部控制对国有企业竞争优势的提升效应，运用中介效应模型验证企业家精神、创新活动、融资约束在内部控制与国有企业竞争优势之间的中介作用。研究发现：内部控制质量与国有企业竞争优势显著正相关；企业家精神、创新活动与融资约束在内部控制对国有企业竞争优势的影响中存在部分中介效应。因此，可以从政府监管层面、制度层面和企业层面通过健全内部控制、激发企业家精神、促进创新活动以及降低融资约束等方式提升国有企业竞争优势。

Research on Intermediary Effect of Internal Control on Competitive Advantage of State-owned Enterprises

This paper takes some state-owned listed companies from 2012 to 2019 as the research object, based on the background of continuous improvement of the market environment of fair competition, and empirically studies the impact and action mechanism of internal control on the competitive advantage of state-owned enterprises. This paper constructs a multiple regression model to test the effect of internal control on the competitive advantage of state-owned enterprises;use a mediator effect model to verify the mediating role of entrepreneurship, innovation activities and financing constraints between internal control and competitive advantage of state-owned enterprises. It is found that there is a significant positive correlation between the quality of internal control and the competitive advantage of state-owned enterprises;entrepreneurship, innovation activities and financing constraints have some intermediary effects on the competitive advantage of state-owned enterprises in the impact of internal controls. Therefore, the competitive advantages of state-owned enterprises can be enhanced from the government supervision level, institutional level and enterprise level by improving internal control, stimulating entrepreneurship, promoting innovation activities and reducing financing constraints.