摘 要
内部控制缺陷修复对企业财务绩效的影响研究旨在探讨企业通过完善内部控制体系来提升财务表现的内在机制。随着经济全球化和市场竞争加剧，内部控制的有效性成为衡量企业管理水平的重要指标。本研究基于中国沪深两市A股上市公司2015-2020年数据，采用倾向得分匹配法与双重差分模型，系统考察了内部控制缺陷披露及修复对财务绩效的影响路径。研究发现，内部控制缺陷修复能够显著改善企业的盈利能力、营运能力和偿债能力，且这种正面效应在非国有企业中更为明显。进一步分析表明，缺陷修复主要通过优化资源配置、降低代理成本、提高信息质量等途径发挥作用。此外，研究还揭示了不同类型的内部控制缺陷（财务报告类与非财务报告类）对企业财务绩效影响存在差异，其中财务报告类缺陷修复的边际效应更大。本研究创新性地引入动态面板数据分析方法，克服了传统研究中内生性问题，并首次将内部控制缺陷按性质分类进行实证检验，为相关理论研究提供了新的视角。研究成果不仅丰富了内部控制领域的学术文献，也为监管部门制定政策以及企业管理层优化内部控制体系提供了重要参考依据。
关键词：内部控制缺陷修复；财务绩效；倾向得分匹配法；双重差分模型；资源配置优化
Abstract
The study on the impact of internal control deficiency remediation on corporate financial performance aims to explore the intrinsic mechanisms through which enterprises enhance their financial performance by improving their internal control systems. As economic globalization and market competition intensify, the effectiveness of internal controls has become a critical indicator of corporate management quality. Based on data from A-share listed companies in China’s Shanghai and Shenzhen stock markets from 2015 to 2020, this research employs propensity score matching and difference-in-differences models to systematically examine the influence pathways of internal control deficiency disclosure and remediation on financial performance. The findings indicate that the remediation of internal control deficiencies significantly improves profitability, operating efficiency, and debt repayment capacity, with these positive effects being more pronounced in non-state-owned enterprises. Further analysis reveals that deficiency remediation primarily exerts its influence through optimizing resource allocation, reducing agency costs, and enhancing information quality. Additionally, the study uncovers differences in the impact on financial performance between different types of internal control deficiencies (financial reporting and non-financial reporting), with the marginal effect of financial reporting deficiency remediation being greater. Innovatively, this research introduces dynamic panel data analysis methods to address endogeneity issues prevalent in traditional studies and conducts empirical tests by categorizing internal control deficiencies based on their nature for the first time, providing new perspectives for theoretical research. The research outcomes not only enrich the academic literature on internal controls but also offer significant reference points for regulatory authorities in policy formulation and for corporate management in optimizing internal control systems.
Keywords：Internal Control Deficiency Remediation；Financial Performance；Propensity Score Matching Method；Difference-in-Differences Model；Resource Allocation Optimization
目 录
摘 要 I
Abstract II
引 言 1
第一章 内部控制缺陷概述 2
1.1 内部控制缺陷的定义与分类 2
1.2 内部控制缺陷的识别方法 2
1.3 内部控制缺陷对企业的影响 3
第二章 内部控制缺陷修复措施 5
2.1 修复措施的设计原则 5
2.2 常见的修复手段分析 5
2.3 修复过程中的风险管理 6
第三章 内部控制缺陷修复与财务绩效的关系 8
3.1 财务绩效评价指标体系 8
3.2 修复对盈利能力的影响 8
3.3 修复对运营效率的影响 9
第四章 实证研究与案例分析 11
4.1 研究样本与数据来源 11
4.2 实证模型构建与检验 11
4.3 案例企业的修复效果分析 12
结 论 14
参考文献 15
致 谢 16
