作　　者： ;

机构地区： 南京大学商学院会计学系

出　　处： 《会计研究》 2018年第9期88-94,共7页

摘　　要： 本文以内部审计总监兼任监事会成员为研究对象,采用2010-2015年上市公司数据,研究了审计总监兼任监事及其能力差异对企业投资效率的影响。研究发现,审计总监兼任监事能显著提高企业投资效率,表现在能降低投资过度和减少投资不足,并且这一结论不受企业产权差异的影响。在采用PSM方法和Heckman二阶段检验控制内生性后,这一结论依然稳健。进一步研究发现,在兼任群体中,审计总监专业能力差异对提高企业投资效率的程度有一定影响,表现为更年长的、拥有高级职称的、具有法律背景的审计总监兼任监事后企业投资效率得到提高的效果更明显,但审计总监的学历影响并不显著。本文的研究对于理解审计总监兼任监事、发挥监督合力或整合监督力量方面具有重要意义。 In the perspective of the internal audit director （IAD） as member of the board of supervisors, tile study examines the impact of lAD du- ality on enterprises＇ investment efficiency based on the data of listed companies from 2010 to 2015. The analysis found that IAD concurrently holding a po- sition in the board of supervisors remarkably enhance the efficiency of corporate investment, which is mainly reflected in reducing excessive investment and inadequate investment. This effect is not significantly different between SUEs and Non-SUEs, and the conclusion remains robust when we solve en- dogenous problem with propensity score matching method （PSM） and Heckman two-stage model. Furthermore, we conducted a series of empirical tests based on IAD＇s professional competence, the results show that the higher professional ability of IAD, the greater extent the investment efficiency can be improved, which is characterized by their age, professional title, legal background, etc., however, the education does not display such a role. The re- search of this paper has important theoretical and practical value for understanding the effect of internal audit director＇s duality and integrating relevant su- pervision powers.

关 键 词： 投资效率 审计总监 兼任 监事

领　　域： [经济管理—企业管理] [经济管理—国民经济]