政府审计与国有企业成本决策的改善——基于成本黏性的视角

Government Audits and the Improvement of Cost Decision-making in State owned Enterprises:From the Perspective of Cost Stickiness

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摘要本文采用双重差分法检验政府审计对国有企业成本黏性的影响,发现在政府审计实施以后被审计国有控股上市公司的成本黏性显著减弱,这说明政府审计对国有企业的成本管理决策具有改善作用。异质性分析表明了政府审计对成本黏性的影响作用主要存在于公司治理水平较低、内部控制质量较差、会计信息透明度较低和薪酬业绩敏感性较高的样本中,支持了政府审计抑制管理层的商业帝国建设假说,并强化了激励机制的中间效应渠道。进一步研究表明了成本黏性是政府审计提高企业价值的部分中介机制,这一发现肯定了政府审计降低成本黏性具有良好的经济后果。上述结果均通过稳健性检验。本文不但从政府监督的角度丰富了成本黏性影响因素的相关文献,也一定程度地扩展了政府审计经济后果的文献,为政府审计全覆盖提供了经验支持。 This paper adopts the method of difference in-differences to examine the impact of government audits on cost stickiness of state owned enterprises,We find that after the implementation of government audits,cost stickiness of listed companies controlled by audited state-owned enterprises is significantly reduced,indicating that government audits have an improving effect on cost management decisions of state owned enterprises.Heterogeneity analysis shows that the impact of government audits on cost stickiness mainly exists in samples with poor corporate governance,low internal control quality,low accounting information transparency,and high pay performance sensitivity,which supports the inhibitory effect of government audits on the construction of management s business empires,as well as the intermediate effect channel of strengthening incentive mechanism.Further research shows that cost stickiness is a partial mediating mechanism for government audits increasing enterprise value,which confirms that cost stickiness reduced by government audits has good economic consequence.The above conclusions have all passed the robustness tests.This paper not only enriches the relevant literature on the factors affecting cost stickiness from the perspective of government supervision,but also extends the economic consequence of government audits to a certain extent,which provides empirical support for full coverage of government audits.

作者李佳罗正英权小锋 JIA LI;ZHENGYING LUO;XIAOFENG QUAN

机构地区铜陵学院会计学院苏州大学东吴商学院

出处《中国会计评论》 2023年第3期575-618,共44页 China Accounting Review

基金国家社科基金重大项目(17ZDA087)的阶段性研究成果

关键词政府审计成本黏性激励机制信息质量企业价值国有企业 Government Audits Cost Stickiness Incentive Mechanism Information Quality Enterprise Value State owned Enterprise