The System of General Counsel and Internal Control Quality
As an important institutional arrangement to comprehensively promote the governance of state-owned enterprises(SOEs)under the rule of law,the main purpose of the system of general counsel(GC)is to strengthen compliance management and effectively prevent and control internal and external risks of the SOEs.Based on this,this paper empirically tests the logical relationship between GCs and the quality of internal control.The study finds that GCs help to improve the quality of internal control,and the effect is more pronounced in companies whose GCs are more professionally competent and powerful.Further research indicates that the positive role of GC is more significant in enterprises with higher operational,financial,or legal risks.In general,this paper provides strong empirical support for the implementation effect of the system of GC,and enriches the literature on law and finance from the perspective of the legal system of micro subjects.At the same time,it has reference value on how to enhance the risk resistance ability of enterprises and improve the core competitiveness of SOEs.
system of general counselinternal control qualityenterprise risk resiliencestate-owned enterprises
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