笔者以2011—2016年沪深两市A股上市公司为样本,以缺陷观衡量内控质量,通过检验应收账款内部控制缺陷对应收账款管理的影响研究了内部控制质量对企业运营目标的效应。研究了应收账款内控缺陷对运营效率和效果的直接影响和对综合运营绩效的影响,并细化讨论账户层缺陷与公司层缺陷对运营目标直接影响与综合影响的不同效应。检验结果发现,存在应收账款相关内部控制缺陷的公司,其应收账款周转率显著差于行业平均水平,当年增加的坏账准备大于无应收账款缺陷的公司;存在任何类型内控缺陷的公司,其总资产收益率与净资产回报率均低于行业平均水平;公司层应收账款缺陷对直接运营效率和效果具有显著负效应,但账户层缺陷不存在这种关系;公司层任何类型内控缺陷相对于账户层缺陷对公司整体运营目标产生的负向影响更大。在控制了自选择偏差后,前述结论成立。扩展研究发现,应收账款流动资产占比、公司复杂性、公司年限和审计师等因素显著影响应收账款内控缺陷。本研究为内部控制质量对运营目标的影响提供了新的证据,丰富了内控经济后果研究,账户层与公司层缺陷的研究有助于企业寻找改善内控的重点及完善自我披露,对应收账款内控缺陷影响因素的研究为防控特定类型内控缺陷提供了思路。
Abstract
By using sample from A-share companies listed on the Shanghai and Shenzhen Stock Exchange Markets from 2011 to 2016,based on Weaknesses View as measurement of internal control quality,we tried to investigate the effects of internal control quality on firms' operational objective by examining the role of accounts receivable related to internal control weaknesses (AR_ICW) in accounts receivable management.We studied the direct result of AR_ICW on operational efficiency,we also expanded to categorize AR_ICW into account-level weaknesses and company-level weaknesses to repeat prior research.Furthermore,we examined the impact of all internal control weakness (ICW) and then account-level and company-level weaknesses on integrated operational performance.We found that the industry-adjusted performance of accounts receivable turnover and increased bad debt provision in companies disclosing AR_ICW were obviously worse than that of other firms in the same industry.Company-level weaknesses of AR_ICW had significantly negative effects on operational efficiency,while account-level weaknesses did not have the similar relationship.As to the ICW,company-level weaknesses had much more negative effects than that of account-level.The conclusion remained after relieving the deviation of self-selection.Extensional research showed that the factors of rate of accounting receivable divided by current assets,complexity,firm-age and auditor contributed to the presence of AR_ICW.This paper provides new evidences of effects of internal control quality on firm's operational objective,expanding the research field of consequences of internal control.Research on internal weakness in accounting-level and company-level helps to find the important factor of internal control and improve the internal control.The research of influencing factor of AR_ICW reveals a new sight of how to prevent some special internal control weaknesses.
关键词
内部控制质量 /
运营目标 /
应收账款 /
缺陷观
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Key words
Quality of internal control /
Operational objective /
Accounts receivable /
Control weak-nesses view
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中图分类号：
F275
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脚注
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基金
重庆市社会科学规划项目“中小微企业全面共享服务机制实现路径研究”(项目编号:2018BS81);中央高校基本科研业务费项目“面向中小微企业的平台型共享服务机制研究”(项目编号:2018CDXYJG0047);福建省中国特色社会主义理论体系研究中心项目“新时代网络治理与智能审计的新兴组合研究”(项目编号:FJ2018ZTB055)。
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