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Empirical Research on Product Market Competition Governance Effect

Author: TaoHuaiLun
Tutor: ChenLiRong
School: Chongqing University of Technology
Course: Accounting
Keywords: Product Market Competition Internal Control Auditing Governance Effect
CLC: F239.45
Type: Master's thesis
Year: 2013
Downloads: 47
Quote: 0
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Abstract


As an organic part of modern corporate governance mechanism，The information andincentive function of product market competition have been proven by lots of scholars.Establish an effective internal control is an important trustee economic responsibility ofcorporate management, excellent supervision and motivation is absolutely necessary topromote corporate management fulfill this responsibility. According to product marketcompetition’s information and incentive functions and the importance of internal control tomodern enterprises, this paper took Internal Control Auditing (ICA) as perspective, andstudied the product market competition’s influence on voluntary internal control auditing.Firstly, analyze from the trustee economic responsibility theory and signaling theory,to find out how product market competition will affect a firm’s internal control auditing;Then using2009-2011Shanghai and Shenzhen main board listed companies as researchsamples, taking Herfindahl-Hirschman Index (HHI) as the explanatory variables and usingLogistic regression method, empirically studied how product market competition affectsenterprises’ voluntary internal control auditing behavior. The basic conclusion is asfollows:(1)Overall, ICA has a significant negative relation with HHI. That means more intenseProduct market competition leads to higher enthusiasm of internal control auditing.(2)Under different intensity of market competition, product market competitiongovernance effect on internal control auditing showed different characteristics. Under lowcompetition, increasing of competition intensity helps to raise the enthusiasm ofenterprises’ internal control auditing. But under high competition, increasing ofcompetition intensity not only didn’t help to raise the enthusiasm, but also significantlysuppress the desire of internal control auditing.(3)Under different market conditions, product market competition has different influence on internal control auditing. Under high degree of marketization, Product marketcompetition can significantly promote the enterprises’ internal control auditing, but thispromoting effect is not significant under low degree of marketization.Finally, combining with theoretical analysis and empirical results, we put forward thepolicy recommendations as follows: Bring the forces of product market competition intoplay; Adjusting the industry competition situation; Accelerating the process ofmarketization of central and western regions..

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CLC: > Economic > Economic planning and management > Audit > Various types of audit > Internal Audit
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