摘要
财会监督作为党和国家监督体系的重要组成部分,对于规范财经秩序、促进经济社会健康发展具有重要意义。基于财政部会计信息质量随机检查场景,深度解析政府财会监督对企业投资行为的影响。研究发现,政府财会监督能够提高企业投资效率。机制检验发现,政府财会监督通过缓解委托代理问题、减少管理层认知偏差,影响企业投资效率,并且政府财会监督对企业投资不足和投资过度行为均有治理作用。基于政府财会监督特征的异质性检验表明,在披露具体数据、查出问题金额数目较大以及整改态度更积极的企业中,政府财会监督更有助于改善企业投资效率;基于公司特征的异质性检验发现,在内部控制质量较低、行业竞争程度较高的企业中,政府财会监督对企业投资效率的提升作用更强。研究结论不仅为政府财会监督的微观治理效应提供了新的证据,对深化监管制度改革、促进企业高质量发展也具有启示意义。
Government accounting supervision,as an important component of the Party and state's supervisory system,plays a crucial role in regulating financial order and promoting the healthy development of the economy and society.Based on a random inspection scenario of accounting information quality by the Ministry of Finance,this study deeply analyzes the impact of government financial and accounting supervision on corporate investment behavior.The research finds that government financial and accounting supervision can improve corporate investment efficiency.Mechanism testing reveals that government financial and accounting supervision affects corporate investment efficiency by alleviating principal-agent problems and reducing management cognitive biases.Furthermore,government financial and accounting supervision has a governance effect on both underinvestment and overinvestment.Heterogeneity testing based on the characteristics of government financial and accounting supervision shows that in companies that disclose specific data,uncover larger amounts of problems,and demonstrate a more proactive attitude towards rectification,government financial and accounting supervision is more effective in improving corporate investment efficiency.Heterogeneity testing based on company characteristics reveals that in companies with lower internal control quality and higher levels of industry competition,the effect of government financial and accounting supervision on improving corporate investment efficiency is stronger.These findings not only provide new evidence for the micro-governance effect of government financial and accounting supervision but also offer insights for deepening regulatory system reform and promoting high-quality corporate development.
出处
《会计研究》
北大核心
2025年第10期134-151,共18页
Accounting Research
基金
国家社会科学基金一般项目(22BJY077)
国家自然科学基金青年项目(72502112)
江苏省社会科学基金青年项目(24GLC031)的资助。
关键词
财会监督
财政部会计信息质量随机检查
投资效率
治理效应
Government Accounting Supervision
The Random Inspection of Accounting Information Quality by the Ministry of Finance
Investment Efficiency
Governance Effects
