摘要
本文以2005-2009年间因财务舞弊而被证监会、上交所和深交所谴责公告的80家A股上市公司为研究对象,并配对相应的控制公司,以舞弊被公告前1年到公告后3年为研究区间,通过配对t检验来观察舞弊公司某些治理变量在舞弊被发现前后的变化,通过多元回归分析来观察这些变化对公司绩效的影响。实证结果表明,财务舞弊公司在被公开谴责后会积极采取行动来改善内部公司治理机制,且部分后续治理行为有助于公司绩效的提高。
This paper takes 80 A-share listed firms which received enforcement actions from the Chinese Securities Regulatory Commis- sion, Shanghai Stock Exchange and Shenzhen Stock Exchange due to financial frauds between 2005 and 2009 as samples, selects matched companies, and sets the first year before fraud detection to the third year after fraud detection as the research period. Paired t-test is used to observe the changes of the corporate governance variables and multiple regression analysis is used to see whether these actions will influence corporate performance. The empirical results show that the financial fraud companies will actively take action to improve the internal corporate governance mechanism, and some follow-up treatment behaviors will help to improve corporate performance.
出处
《企业经济》
北大核心
2013年第12期181-184,共4页
Enterprise Economy
基金
南昌大学社会科学研究基金项目“财务舞弊公司的后续治理研究”(批准号:12XGL04)
关键词
公开谴责
财务舞弊
公司治理
public condemnation
financial fraud
corporate governance
