财经理论与实践
財經理論與實踐
재경이론여실천
The Theory and Practice of Finance and Economics
2015年
5期
76-82
,共7页
内部控制%内部人交易%违规交易行为
內部控製%內部人交易%違規交易行為
내부공제%내부인교역%위규교역행위
Internal control%Insider trading%Illegal trading behaviors
以2009~2012年沪市上市公司为研究样本，以内部人违规交易比率、内部人敏感期交易比率和内部人延迟披露比率作为内部人违规交易行为的替代变量，考察了内部控制对内部人违规交易行为的影响。研究发现，内部控制质量与内部人违规交易比率和内部人敏感期交易比率显著负相关，与内部人延迟披露比率之间的关系不显著。研究结果表明，总体而言，内部控制能有效抑制内部人违规交易行为的发生，有利于提高内部人交易的合法合规性。
以2009~2012年滬市上市公司為研究樣本，以內部人違規交易比率、內部人敏感期交易比率和內部人延遲披露比率作為內部人違規交易行為的替代變量，攷察瞭內部控製對內部人違規交易行為的影響。研究髮現，內部控製質量與內部人違規交易比率和內部人敏感期交易比率顯著負相關，與內部人延遲披露比率之間的關繫不顯著。研究結果錶明，總體而言，內部控製能有效抑製內部人違規交易行為的髮生，有利于提高內部人交易的閤法閤規性。
이2009~2012년호시상시공사위연구양본，이내부인위규교역비솔、내부인민감기교역비솔화내부인연지피로비솔작위내부인위규교역행위적체대변량，고찰료내부공제대내부인위규교역행위적영향。연구발현，내부공제질량여내부인위규교역비솔화내부인민감기교역비솔현저부상관，여내부인연지피로비솔지간적관계불현저。연구결과표명，총체이언，내부공제능유효억제내부인위규교역행위적발생，유리우제고내부인교역적합법합규성。
Using companies listed on the Shanghai Securities Exchange from 2009 to 2012 as study samples,and taking insider illegal trading rate,insider sensitive period trading rate,and insider disclosure delay rate as the proxies of insider illegal trading behaviors,this paper investi-gates the influence of internal control on insider illegal trading behaviors.Using empirical re-search method to solve this issue this paper finds that:Internal control quality significantly nega-tively correlate with insider illegal trading rate and insider sensitive period trading rate;Internal control quality negatively correlate with insider disclosure delay rate,but this relationship is not significant.These results show,internal control could efficiently reduce insider illegal trading be-haviors and help improve the compliance of laws and regulations of insider trading.
