文献类型：期刊文献

中文题名：内控重大缺陷与企业研发投入

英文题名：Internal Control Material Weaknesses and Enterprise R&D Investment

作者：石青梅[1];谢香兵[1]

第一作者：石青梅

机构：[1]河南财经政法大学会计学院,河南郑州450046

第一机构：河南财经政法大学会计学院

年份：2021

卷号：38

期号：4

起止页码：113-122

中文期刊名：经济经纬

外文期刊名：Economic Survey

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2020】；CSSCI:【CSSCI2021_2022】；

基金：教育部人文社会科学研究青年基金项目(18YJC790136);河南省科技厅软科学课题(212400410500;202400410386)。

语种：中文

中文关键词：内控重大缺陷;研发投入;融资约束;创新治理

外文关键词：Internal Control Material Weaknesses;R&D Investment;Financing Constraints;Innovation Governance

摘要：基于内控缺陷视角和国有集团维度,利用2009—2019年国有集团上市公司样本,检验国有集团上市公司的内控重大缺陷对其研发投入的影响。结果发现:内控重大缺陷对公司研发投入具有抑制作用;影响机制检验发现,内控重大缺陷对公司研发投入的负面影响是由于内控质量而非融资约束;异质性检验发现,在地方国有、代理成本较高、市场化程度较低、产品市场竞争程度较低、机构投资者持股比例较低的国有企业中,内控重大缺陷对研发投入影响的抑制效应更强。研究结论不仅拓展了国有集团视角下上市公司内控缺陷对创新投入影响的研究,还为完善国有集团上市公司的创新治理提供了经验证据。
Based on the perspective of internal control weaknesses and the dimension of state-owned group, this paper takes the listed companies of state-owned group from 2009 to 2019 as samples to examine the impact of internal control material weaknesses of the listed companies of state-owned group on their R&D investment. The study finds that internal control material weaknesses can inhibit the companies’ R&D investment. The test of influence mechanism shows that the negative impact of internal control material weaknesses on the companies’ R&D investment is due to the internal control quality rather than financing constraints. And the heterogeneity test indicates that the inhibitory effect of the internal control material weaknesses on R&D investment is stronger for the state-owned companies with high level of agency cost, low degree of marketization. The conclusions not only expand the research on innovation investment of listed companies from the perspective of state-owned groups, but also provide theoretical analysis and empirical evidence for improving the innovation governance of listed companies of state-owned groups.