东北大学学报：社会科学版
東北大學學報：社會科學版
동북대학학보：사회과학판
Journal of Northeastern University(Social Science)
2013年
4期
361~366
,共null页
内部控制 信息披露 自愿披露 信号博弈
內部控製 信息披露 自願披露 信號博弈
내부공제 신식피로 자원피로 신호박혁
internal control; information disclosure; voluntary disclosure; signaling game
从上市公司披露内部控制一般缺陷的自愿性动机出发，构建了不完全信息条件下公司内部控制一般缺陷披露问题的信号博弈模型，给出了自愿披露内部控制一般缺陷的混同均衡和分离均衡条件；同时对2011年沪深两市上市公司内部控制一般缺陷的披露情况进行了描述性统计，研究结果表明：剔除ST类公司，披露内部控制一般缺陷公司的绩效要好于行业均值。由于现存规章制度中的惩罚机制不够完善，因此对于内部控制一般缺陷的披露现状，市场上更多的是混同均衡，分离均衡尚未实现。
從上市公司披露內部控製一般缺陷的自願性動機齣髮，構建瞭不完全信息條件下公司內部控製一般缺陷披露問題的信號博弈模型，給齣瞭自願披露內部控製一般缺陷的混同均衡和分離均衡條件；同時對2011年滬深兩市上市公司內部控製一般缺陷的披露情況進行瞭描述性統計，研究結果錶明：剔除ST類公司，披露內部控製一般缺陷公司的績效要好于行業均值。由于現存規章製度中的懲罰機製不夠完善，因此對于內部控製一般缺陷的披露現狀，市場上更多的是混同均衡，分離均衡尚未實現。
종상시공사피로내부공제일반결함적자원성동궤출발，구건료불완전신식조건하공사내부공제일반결함피로문제적신호박혁모형，급출료자원피로내부공제일반결함적혼동균형화분리균형조건；동시대2011년호심량시상시공사내부공제일반결함적피로정황진행료묘술성통계，연구결과표명：척제ST류공사，피로내부공제일반결함공사적적효요호우행업균치。유우현존규장제도중적징벌궤제불구완선，인차대우내부공제일반결함적피로현상，시장상경다적시혼동균형，분리균형상미실현。
Based on the listed companies＇ voluntary motivation of disclosing their general weaknesses of internal control, this paper constructs a signaling game model on the general weaknesses of internal control under the situation of incomplete information, and gives the conditions of pooling equilibrium and separating equilibrium on disclosing voluntarily the general weaknesses of internal control. Moreover, it provides the relevant descriptive statistics about the general weakness disclosure of internal control of all the 2011 listed companies, and finds that excluding ST companies, the performance of general weakness disclosure companies is better than that of the average industry. Given that the current punishment mechanism is not perfect, the market is inclined to choose pooling equilibrium while separating equilibrium has not been realized in the general weakness disclosure of internal control.
