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ID:50199430
大小:1.48 MB
页数:54页
时间:2020-03-05
《内部控制质量、信息透明度与股价同步性实证研究.pdf》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、因素的研究,为我们进行内部控制建设,提高证券市场运行效率提供启发与建议。关键字:内部控制质量;股价同步性;信息透明度AbstractStockpricesynchronicityreferstothephenomenonthatmostofthestockpricesriseoffallsimultaneouslyduringacertainperiodoftimefromamacroperspective.Fromthemicroscopicperspective,itsmeaningistheco-movementsofstockmarket.Mar
2、ket,industryandfirm-specificinformationallhaveeffectonstockprices,butwhattrulyeffectstockpriceisthelastone.China'sstockmarkethaslongbeenremaininghighstockpricesynchronicitywiththestockpricecontainslittlecompanyinformationanddoesnottrulyreflecttherealvalue.Thisphenomenonwilllowert
3、heeffectivenessofthesecuritiesmarketandisdisadvantageoftheoptimalallocationofmarketresources.In2011,68companieslistedindomesticandoverseasatthesametimeand216internalcontrolpilotcompaniesareenforcedtoimplementinternalcontrolstandardsystem.In2012,theministryoffinanceandCSRCjointlyi
4、ssuedanoticetofurtherexpandtheenforcementofthesystemofinternalcontrolscopethemainboardstateholdinglistedcompany,inJanuary2014,theCSRCandtheministryoffinancejointlyissuedtheannualgeneralprovisionsontheinternalcontrolevaluationreport.Itseemsthatourcountry'sinternalcontrolsystemisin
5、creasinglyperfect.So,doesithaveimpactonstockpricesynchronicityofChina'ssecuritiesmarket?Whatistheimpact?WhatistheinfluentfactorsofChinesestockpricesynchronicity?HowtoreducethestockpricesynchronicityofChina?Accordingtotheexistingliterature,informationtransparencyandinvestor-protec
6、tionarefactorsthatresultinhighstockpricesynchronicityinemergingmarkets.Tosatisfytheaccountinginformationuser'sneedsandprotecttheinterestsofinvestors,weneedtomakesomesystemtoprotecttheinterestsoftheaccountinginformationusersandinvestorsfromtheviolation,andtheeffectiveinstitutional
7、arrangementistheinternalcontrolsystem.Inthispaper,basedontheChinesecorporategovernancecharacteristics,inordertoreducestockpricesynchronicityresearchasastartingpoint,wedemonstratesthathowtheinternalcontrolqualityaffectstockpricesynchronicity,andthentestthemainlineoftheconductiveef
8、fectofinformationtransparencybetweenthei
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