CAJ | 학술논문

以2008--2012年A股非金融类上市公司为样本，研究内部控制缺陷对企业信贷约束的影响。研究发现：在控制样本自选择问题的基础上，内部控制缺陷的存在加剧了企业所面临的信贷约束；内部控制缺陷的严重程度与所遭受的信贷约束显著正相关；企业对内部控制缺陷所采取的整改措施可以缓解其所引致的信贷约束，但并不能从根本上消除内部控制缺陷给企业信贷融资带来的消极影响。区分行业类别后，内部控制缺陷对垄断行业企业的信贷约束并没有显著影响，但能显著提高非垄断行业的信贷约束。
이2008--2012년A고비금융류상시공사위양본，연구내부공제결함대기업신대약속적영향。연구발현：재공제양본자선택문제적기출상，내부공제결함적존재가극료기업소면림적신대약속；내부공제결함적엄중정도여소조수적신대약속현저정상관；기업대내부공제결함소채취적정개조시가이완해기소인치적신대약속，단병불능종근본상소제내부공제결함급기업신대융자대래적소겁영향。구분행업유별후，내부공제결함대롱단행업기업적신대약속병몰유현저영향，단능현저제고비롱단행업적신대약속。
Based on the data of Chinese A-share non-financial listed companies from 2008 to 2012, this paper explores the effects of internal control deficiencies on the corporate credit constraints. It finds that based on the control of the sample self- selection problem, the internal control deficiencies exacerbated the credit constraints of the enterprises ; the severity of internal control deficiencies is significantly positively correlated with credit constraints suffered ; the corrective measures taken by the enterprise can alleviate the credit constraints caused by the internal control deficiencies, but it doesn＇t fundamentally eliminate the negative impact of the internal control deficiencies on corporate credit financing; and after distinguishing the industries, the internal control deficiencies have no impact on the enterprise financial constraints of the monopoly industries, but they can significantly improve the credit constraints of the non-monopoly industries.