内部控制质量对家族企业创新投入的影响——基于2019-2021年A股上市公司的证据
The Impact of Internal Control Quality on Innovation Investment in Family-owned Companies——Evidence Based on A-share Listed Companies from 2019 to 2021
靳振忠 1陈卓 1魏冕2
作者信息
- 1. 南京审计大学 政府审计学院,江苏 南京 211815
- 2. 中国社会科学院大学 应用经济学院,北京 102488
- 折叠
摘要
在创新引领经济发展的时代背景下,家族企业作为企业组织形式中的一种特殊类型,需要良好的内部控制促进自身的发展.文章基于 2019-2021 年A股上市公司数据,实证检验内部控制质量对家族企业创新投入的影响及其机制.研究发现:第一,内部控制质量对家族企业创新投入具有正向影响.第二,机制分析表明,内部控制优化通过改变家族企业去家族化程度,进而影响其创新投入.第三,异质性分析表明,内部控制质量对家族企业创新投入的正向影响在第二产业、低杠杆水平、中小规模的企业中更为显著;此外,拓展性研究表明,家族企业内部控制质量对创新产出同样具有提高作用,且对家族企业的创新效率也有着显著的促进作用.
Abstract
In the context of innovation-led economic development,family enterprises,as a special type of enterprise organization form,need good internal control to promote their own devel-opment.The paper empirically examines the impact of internal control quality on innovation invest-ment of family enterprises and its mechanism based on data of A-share listed companies from 2019 to 2021.The study finds that,firstly,internal control quality has a positive impact on family firms'innovation investment.Second,mechanism analysis shows that internal control optimization affects family firms'innovation investment by changing the degree of de-familialization intervention in fam-ily firms.Third,the heterogeneity analysis shows that the positive effect of internal control quality on innovation investment in family firms is more significant in secondary industries,low leverage levels,and small and medium-sized firms;In addition,extensive research has shown that the quality of internal control in family businesses also has an improving effect on innovation output,and has a significant promoting effect on the innovation efficiency of family businesses.
关键词
内部控制/创新投入/家族企业/去家族化/信息不对称Key words
Internal control/Innovation investment/Family-owned companies/De-familializa-tion/Information asymmetry引用本文复制引用
基金项目
国家自然科学基金青年项目(72204116)
江苏省高校哲学社会科学研究一般项目(2022SJYB0350)
出版年
2024
NETL
NSTL
万方数据