摘要
本文选取2001-2005年受到中国证监会及深圳、上海证券交易所公开谴责的上市公司为样本,从财务特征、公司治理两个方面,建立上市公司是否会遭受到公开谴责的预测模型,以帮助投资者识别各种违规行为。结果表明,总资产周转率越高,总资产收益率越大,独立董事比例越大,审计报告类型为标准无保留,上市公司受到公开谴责的可能性越低;总资产收益率与总资产周转率的乘积对上市公司是否会遭受到公开谴责也有一定解释作用。预测模型具有良好的识别效果。
In order to help the investors recognize the illegal behavior of the listed companies and protect their interests, this paper selects all the listed companies which received public punishments from Shenzhen Stock Exchange, Shanghai Stock Exchange and Securities Regulatory Commission because of illegal information disclosure between 2001 and 2005 as researching samples. Based on the financial character and corporate governance, the paper sets up a forecast model about whether or not the listed company would get a public punishment. The identifying effect of the model is good, and it also indicates that the bigger the to- tal asset turnover rate, the return on asset and the percentage of independent directors, the less likely the listed company would get a public punishment, if the auditing opinion is also a standard one. Besides, the product of return on asset and total asset turnover rate also can affect the predicting result.
出处
《中国地质大学学报（社会科学版）》
CSSCI
北大核心
2009年第4期74-79,共6页
Journal of China University of Geosciences(Social Sciences Edition)
基金
国家社会科学基金项目(07BJY029)
"教育部新世纪优秀人才支持计划"项目(NCET-06-0144)
关键词
公司治理
财务特征
违规预测
识别模型
corporate governance
financial character
violation forecast
discerning model
