The Establishment of the Audit Committee of the Party Committee and the High-quality Development of State-owned Enterprises——On the Synergistic Governance of Internal and External Supervisory Bodies
The establishment of the audit Committee is a key measure to strengthen the centralized and unified leadership of the Communist Party of China over audit work and build an audit management system that fits China's national conditions.This is of great significance for promoting the high-qual-ity development of audit work in the new era.On the basis of constructing the comprehensive index of high-quality development of state-owned enterprises based on the new development concept,this paper takes A-share listed companies from 2014 to 2021 as research samples,and uses the multi-period DID model to investigate the impact mechanism of the establishment of audit committees of Party committees on the high-quality development of state-owned enterprises.This paper finds that the establishment of the audit committee of the Party committee significantly promotes the high-quality development of state-owned enterprises,and this conclusion is still valid after a series of robustness tests.The impact mechanism test finds that the establishment of Audit Committee of the Party committee can promote the high-quality development of state-owned enterprises through the governance effect,deterrent effect and learning effect.The collaborative governance mechanism test finds that the participation of party organizations,audit committees and employees inside en-terprises,as well as the participation of judicial organs,discipline inspection and supervision organs and media outside enterprises can significantly en-hance the promotion effect of the establishment of Party committee audit committees on the high-quality development of state-owned enterprises.The re-search conclusion has important enlightenment significance for clarifying the micro governance effect of Audit Committee of the Party committee,stimula-ting the collaborative supervision efficiency of different supervision subjects,and promoting the high-quality development of state-owned enterprises.
Audit Committee of the Party CommitteeState-owned EnterpriseHigh-quality DevelopmentCollaborative Governance
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