Government Financial Supervision and Enterprises'New-quality Productivity:From the Perspective of the Quality of Budget Information Disclosure in the Financial Sector
Financial supervision is an important component of the supervision system of the Party and the state,playing an important role in regulating financial order and promoting healthy economic and social development.However,there are few lit-erature reviews exploring the micro governance effects of government financial supervision from the perspective of the quality of budget information disclosure by the financial department.Based on the perspective of the quality of budget information disclo-sure of financial departments in 31 provinces and municipalities(excluding Taiwan,Hong Kong and Macao),this paper em-pirically tests the impact and mechanism of government financial and accounting supervision on the new quality productivity of enterprises by using the empirical data of A-share listed companies from 2011 to 2021.Research has found that government fi-nancial and accounting supervision can significantly improve the new quality productivity of enterprises.The impact mechanism test has found that government financial and accounting supervision can improve the level of financial fund management,opti-mize resource allocation efficiency,and reduce government intervention,thereby enhancing the new quality productivity of en-terprises.Heterogeneity testing has found that government financial and accounting supervision has a more significant promo-ting effect on the new quality productivity of enterprises.And the effect is even more pronounced in enterprises with higher in-ternal control quality,weaker managerial myopia and lower agency costs.The research conclusion enriches the relevant litera-ture on the factors influencing the new quality productivity of enterprises,which is conducive for the finance department as the main responsible department for government financial and accounting supervision to clarify the micro governance efficiency,and to provide empirical evidence for the new quality productivity of enterprises.
Government Accounting SupervisionEnterprise New Quality ProductivityBudget Information Disclosure QualityFinancial Department
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