摘要
在全面推进依法治企的背景下,合规监管政策体系的制度效应逐渐成为学术界关注的重点。本文以国务院国资委出台《中央企业合规管理指引(试行)》构建准自然实验,从制度溢出视角实证考察了合规监管对企业风险承担的影响及其作用机理。研究发现,合规监管具有降低企业风险承担水平的制度溢出效应。机制分析显示,合规监管主要通过提升企业内部控制水平抑制风险承担;内外部制度环境具有显著的调节作用。进一步研究表明,合规监管主要降低了企业异常风险承担水平。本文不仅揭示了合规监管政策传导至企业的机制路径,也为合规管理与内部控制、风险管理融合建设的政策效果提供了初步经验证据,结论对于完善合规监管政策体系和促进企业高质量发展具有重要启示。
Against the backdrop of comprehensively promoting legal governance of enterprises,the institutional effect of the compliance regulatory policy system has gradually become a focus of attention in the academic community.This article constructs a quasi natural experiment based on the“Guidelines for Central Enterprise Compliance Management(Trial)”issued by the State owned Assets Supervision and Administration Commission of the State Council,and empirically examines the impact and mechanism of compliance supervision on enterprise risk taking from the perspective of institutional spillovers.Research has found that compliance regulation has an institutional spillover effect on reducing the level of enterprise risk taking.Mechanism analysis shows that compliance supervision mainly suppresses risk taking by improving the internal control level of enterprises;The internal and external institutional environment has a significant regulatory effect.Further research has shown that compliance regulation mainly reduces the level of abnormal risk taking by enterprises.This article not only reveals the mechanism path of the transmission of compliance regulatory policies to enterprises,but also provides preliminary empirical evidence for the policy effectiveness of the integration of compliance management,internal control,and risk management.The conclusion has important implications for improving the compliance regulatory policy system and promoting high-quality development of enterprises.
作者
唐大鹏
王钰杰
刘翌晨
官歆翎
TANG Dapeng;WANG Yujie;LIU Yichen;GUAN Xinling(Dongbei University of Finance and Economics,116012)
出处
《制度经济学研究》
2024年第1期143-175,共33页
Research on Institutional Economics
关键词
合规监管
风险承担
制度溢出
Compliance Regulation
Risk Taking
Institutional Spillover
作者简介
唐大鹏,会计学博士,经济学博士后,东北财经大学科研处副处长,会计学院教授、博士生导师,中国内部控制研究中心副主任,地址:(116012)辽宁省大连市沙河口区尖山街217号,E-mail:13942830226@163.com;王钰杰,东北财经大学会计学院硕士生,E-mail:13301829365@163.com;通讯作者:刘翌晨,东北财经大学会计学院博士生,E-mail:15898189601@163.com;官歆翎,东北财经大学会计学院本科生,E-mial:1822539673@qq.com。
