内部控制信息披露与股价波动

摘要美国安然公司和世界通信的丑闻，使得内部控制相关问题的研究也成为各界讨论的焦点, 这些事件的发生显示出公司内部制度的缺陷。受其影响，我国政府也逐步建立和完善企业内部控制体系,从2006年起我国便先后发布了多项内部控制信息披露的指引，引导企业进行规范化的内控信息披露。本文将以创业板市场为研究对象，选取披露了2014年度内部控制评价报告的公司,剔除披露日前后五日发布季报的和连续三天无股票交易的公司，最终产生195个公司为样本。构建包含内控披露信息及时性、完整性和有效性在内的内部信息披露指标体系，用事件研究法,通过建立超额收益率模型实证分析内控信息披露质量对股价波动的影响。所得结论表明当企业向外界披露质量较高的内部控制信息时能够给股价带来正向的波动，这说明企业在一定程度上能够通过改善公司内部控制来获取资本市场的支持。42790

关键词内部控制信息披露股价波动

毕业论文外文摘要

Title INTERNAL CONTROL INFORMATION DISCLOSURE AND SHARE PRICE VOLITILITY

Abstract

U.S. Enron Corp and the world's communications scandal, making the study of internal control related issues have become the focus of discussion. Influenced by it, the Chinese government has gradually established and improved the internal control system of the enterprise, which shows the defects of the internal system of the company. Since 2006, China has issued a number of guidelines for internal control information disclosure, and guide enterprises to standardize the internal control information disclosure. The GEM market will be as the research object ,we select the disclosure of 2014 annual internal control evaluation report of the company, excluding the disclosure on or within five days of this date published quarterly and for three consecutive days without stock trading company, finally produced 195 companies as the sample. Constructs containing internal control disclosure of information timeliness, completeness and validity, internal information disclosure index system, using the event study method, through the establishment of excess return rate model in the empirical analysis of internal control information disclosure quality on the volatility of stock price. The conclusion is that disclosing high quality of internal control information to the outside can bring positive volatility to the share price . This shows that the enterprises in a certain extent are able to secure the support of the capital market through improving the internal control.

Keywords: internal control information disclosure Share price volatility

1引言 1

1.1研究背景意义 1

1.1.1研究背景 1

1.1.2研究意义 1

1.2研究方法与内容 2

1.2.1研究方法 2

1.2.2研究内容 2

1.3本文的特色 3

2理论基础与文献综述 4

2.1理论基础 4

2.1.1内部控制的本质 4

2.1.2内部控制信息披露的主要形式 4

2.1.3信息不对称理论 4

2.1.4委托代理理论内部控制信息披露与股价波动:http://www.youerw.com/kuaiji/lunwen_43345.html