內部控制缺失對經營績效之影響：以公司治理為調節效果

Internal Control Weakness and Firm Performance-Moderating Effect of Corporate Governance

吳東憲(Tung-Hsien Wu)；蕭子誼(Tzy-Yih Hsiao)；曾彩薇(Cai-Wei Zeng)

內部控制缺失 ； 經營績效 ； 公司治理 ； 內部控制 ； Internal Control Weakness ； Firm Performance ； Corporate Governance ； Internal Control

會計與公司治理

11卷1期（2016 / 06 / 01）

1 - 25

繁體中文

本研究是探討內部控制缺失對企業經營績效之影響，並驗證公司治理的調節效果，以2004 至2013 年國內非金融之上市上櫃公司為研究對象，實證結果顯示，企業經營績效與內部控制缺失呈顯著負向關係，指出有內部控制缺失之公司其企業經營績效較差。再納入公司治理監督機制後，董監事持股比率、外部大股東持股比率與內部控制缺失之交乘項與企業經營績效呈正相關，未達顯著水準，獨立董事席次比例、機構投資人持股比率與內部控制缺失之交乘項與企業經營績效呈顯著正向關係，表示公司治理機制能對內部控制缺失進行有效監督，降低內部控制缺失對企業經營績效之影響。

This study investigate the relationship between internal control weakness and firm performance, and verify moderating effect of corporate governance. The sample is using non-financial listed companies in Taiwan over the period of 2004-2013. We find internal control weaknesses are significantly negatively correlated with firm performance. The results imply that firm has internal control weakness, it has lower performance. In additional, the corporate governance has positive moderating effect on the relationship between internal control weakness and firm performance, and it can improve firm performance. Our findings provide evidence that corporate governance able to effectively supervise internal control weakness and reduce the impact on firm performance of internal control weakness.

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