内部控制能有效规避财务困境吗?
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财经研究 2012 年 第 38 卷第 01 期, 页码：125 - 135
摘要
参考文献
摘要
财务困境不仅影响企业自身的生存与发展,还将给债权人、股东和员工等利益相关者带来重大损失。文章基于企业内部控制视角探讨了财务困境的成因。研究发现,内部控制对财务困境具有显著而重要的影响,存在重大内部控制缺陷的公司更可能陷入财务困境;存在重大内部控制缺陷越多的公司,其陷入财务困境的可能性越大。这些经验证据表明,加强内部控制建设在现实中确实能有效规避财务困境。
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[2]李万福,林斌,舒伟,等.基于内部控制视角ERP系统实施的改进研究——以盛威尔公司为例[J].审计研究,2011,(1):84-89.
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[8]杨德明,林斌,王彦超.内部控制、审计质量与大股东资金占用[J].审计研究,2009,(5):74-81.
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[11]Andrade G,Kaplan S N.How costly is financial(not economic)distress?Evidencefrom highly leveraged transactions that became distressed[J].Journal of Finance,1998,53(5):1443-1493.
[12]Ashbaugh-Skaife H,Collins D W,Kinney W,et al.The effect of SOX internal controldeficiencies and their remediation on accrual quality[J].The Accounting Review,2008,83(1):217-250.
[13]Committee of Sponsoring Organizations of the Treadway Commission(COSO).Inter-nal control-integrated framework[M].New York:COSO,1992.
[14]Dahiya S,Saunders A,Srinivasan A.Financial distress and bank lending relationships[J].Journal of Finance,2003,58(1):375-399.
[15]Doyle J,Ge W,McVay S.Accruals quality and internal control over financial reporting[J].The Accounting Review,2007a,82(5):1141-1170...
[16]Doyle J,Ge W,McVay S.Determinants of weaknesses in internal control over financialreporting[J].Journal of Accounting and Economics,2007b,44:193-223.
[17]Gao F,Wu J S,Zimmerman J.Unintended consequences of granting small firms exemp-tions from securities regulation:Evidence from the Sarbanes-Oxley Act[J].Journal ofAccounting Research,2009,47(2):459-506.
[18]Heckman J.Sample selection bias as a specification error[J].Econometrica,1979,47(1):153-161.
[19]Modigliani F,Miller M.The cost of capital,corporation finance and the theory of in-vestment[J].American Economic Review,1958,48(1):261-297.
[20]Patterson E R,Smith J R.The effects of Sarbanes-Oxley on auditing and internal con-trol strength[J].The Accounting Review,2007,82(2):427-455.
[21]Petersen M A.Estimating standard errors in financing panel data sets:Comparing ap-proaches[J].Review of Financial Studies,2009,22(1):435-480.
[22]Wittenbery-Moerman R.The role of information asymmetry and financial reportingquality in debt trading:Evidence from the secondary loan market[J].Journal of Ac-counting and Economics,2008,46(2):240-260.
[2]李万福,林斌,舒伟,等.基于内部控制视角ERP系统实施的改进研究——以盛威尔公司为例[J].审计研究,2011,(1):84-89.
[3]李万福,林斌,宋璐,等.内部控制在公司投资中的角色:效率促进还是抑制?[J].管理世界,2011,(2):81-99.
[4]李万福,林斌,杨德明,等.内控信息披露、企业过度投资与财务危机——来自中国上市公司的经验证据[J].中国会计与财务研究,2010,(4):76-141.
[5]吕长江,徐丽珠,周琳.上市公司财务困境与财务破产的比较分析[J].经济研究,2004,(8):64-73.
[6]吴世农,卢贤义.我国上市公司财务困境的预测模型研究[J].经济研究,2001,(6):46-55.
[7]吴世农,章之旺.我国上市公司的财务困境成本及其影响因素分析[J].南开管理评论,2005,(3):101-105.
[8]杨德明,林斌,王彦超.内部控制、审计质量与大股东资金占用[J].审计研究,2009,(5):74-81.
[9]Altman E I.Financial ratios,discriminant analysis and the prediction of corporate bank-ruptcy[J].Journal of Finance,1968,23(4):589-609.
[10]Altman E I.Predicting financial distress of companies[EB/OL].http://pages.stern.nyu.edu/～ealtman/Zscores.pdf,2000.
[11]Andrade G,Kaplan S N.How costly is financial(not economic)distress?Evidencefrom highly leveraged transactions that became distressed[J].Journal of Finance,1998,53(5):1443-1493.
[12]Ashbaugh-Skaife H,Collins D W,Kinney W,et al.The effect of SOX internal controldeficiencies and their remediation on accrual quality[J].The Accounting Review,2008,83(1):217-250.
[13]Committee of Sponsoring Organizations of the Treadway Commission(COSO).Inter-nal control-integrated framework[M].New York:COSO,1992.
[14]Dahiya S,Saunders A,Srinivasan A.Financial distress and bank lending relationships[J].Journal of Finance,2003,58(1):375-399.
[15]Doyle J,Ge W,McVay S.Accruals quality and internal control over financial reporting[J].The Accounting Review,2007a,82(5):1141-1170...
[16]Doyle J,Ge W,McVay S.Determinants of weaknesses in internal control over financialreporting[J].Journal of Accounting and Economics,2007b,44:193-223.
[17]Gao F,Wu J S,Zimmerman J.Unintended consequences of granting small firms exemp-tions from securities regulation:Evidence from the Sarbanes-Oxley Act[J].Journal ofAccounting Research,2009,47(2):459-506.
[18]Heckman J.Sample selection bias as a specification error[J].Econometrica,1979,47(1):153-161.
[19]Modigliani F,Miller M.The cost of capital,corporation finance and the theory of in-vestment[J].American Economic Review,1958,48(1):261-297.
[20]Patterson E R,Smith J R.The effects of Sarbanes-Oxley on auditing and internal con-trol strength[J].The Accounting Review,2007,82(2):427-455.
[21]Petersen M A.Estimating standard errors in financing panel data sets:Comparing ap-proaches[J].Review of Financial Studies,2009,22(1):435-480.
[22]Wittenbery-Moerman R.The role of information asymmetry and financial reportingquality in debt trading:Evidence from the secondary loan market[J].Journal of Ac-counting and Economics,2008,46(2):240-260.
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李万福, 林斌, 林东杰. 内部控制能有效规避财务困境吗?[J]. 财经研究, 2012, 38(1): 125–135.
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