CAJ | 학술논문

文章以我国2008~2011年A股主板上市公司为样本,考察了企业内部控制的实施对R＆D效率的影响。针对R＆D活动中主要存在的业务流程风险和管理层机会主义风险,本文从业务流程管理控制和公司治理层面控制两个方面,详细剖析了内部控制如何提高R＆D效率的作用机理。研究发现,高水平的内部控制执行有助于提高企业的R＆D效率,使企业的R＆D投入更被市场所认可,实现更多的价值创造。研究表明,加强企业的内部控制执行水平是提升R＆D效率的关键。
문장이아국2008~2011년A고주판상시공사위양본,고찰료기업내부공제적실시대R＆D효솔적영향。침대R＆D활동중주요존재적업무류정풍험화관리층궤회주의풍험,본문종업무류정관리공제화공사치리층면공제량개방면,상세부석료내부공제여하제고R＆D효솔적작용궤리。연구발현,고수평적내부공제집행유조우제고기업적R＆D효솔,사기업적R＆D투입경피시장소인가,실현경다적개치창조。연구표명,가강기업적내부공제집행수평시제승R＆D효솔적관건。
Using the data of Chinese A-share listed enterprises during 2008-2011 [3the paper examines the impact of internal control implementation on R＆D efficiency. Aiming at business process risk and management opportunism risk in R＆D activities, this paper from the two aspects of business process control and corporate governance control, conducts an in- depth analyses on the mechanism of how internal control improve the efficiency of R＆D. We find that a high level of implementation of internal control helps to improve R＆D efficiency in enterprises, and enterprises＇ R＆D investments have been recognized and valued by market. The empirical evidence suggests that strengthening internal control implementation is critical to enhance R＆D efficiency.