内部控制意愿、内部控制水平与盈余管理方式——基于文本分析与机器学习的计量方法

刘斌; 李延喜; 迟健心

PDF(563 KB)

科研管理 ›› 2021, Vol. 42 ›› Issue (9) : 166-174.

论文

内部控制意愿、内部控制水平与盈余管理方式——基于文本分析与机器学习的计量方法

刘斌¹,李延喜²,迟健心³

作者信息 +

Internal control willingness, internal control level and earnings management methods——The measurement method based on text analysis and machine learning

Liu Bin¹, Li Yanxi², Chi Jianxin Daniel³

Author information +

文章历史 +

摘要

高质量内部控制水平能够抑制企业应计盈余管理，然而其抑制真实盈余管理的效果则莫衷一是，其中主观能动性因素的忽视可能是关键瘀点。我们提出“内部控制意愿”的概念，使用基于Python文本分析与机器学习的方法作为计量基础，检验其对企业内部控制水平和两类盈余管理的影响。研究发现：第一，内部控制意愿对内部控制水平具有显著正向影响。第二，内部控制意愿能够约束真实盈余管理行为，但无法显著影响应计盈余管理活动。第三，内部控制意愿在内部控制水平和应计盈余管理的关系中发挥调节效应，即企业持有积极内部控制意愿且达到高水平内部控制，能够显著提升对应计盈余管理的约束作用。我们发现了主观能动性因素在企业内部控制构建与执行活动中的重要作用；同时，建议企业董事会、外部监管部门重视内部控制意愿的培育。

Abstract

High-quality internal-control level can suppress accrued earnings management, but its effectiveness in suppressing real earnings management is inconsistent. The neglect of subjective initiative factors may be the key point. We put forward the concept of Internal-control Willingness, which is a variable tool to measure the degree of subjective initiative of enterprise internal-control construction and execution activities. And using measurement methods by text analysis and machine learning based on Python, we examined the relationship between internal-control willingness, corporate internal-control level and the two types of earnings management.
The study found that: First, internal-control willingness has a significant positive impact on internal-control level. The specific performance are as follows: On the one hand, the company holds a positive internal-control willingness, the probability of its internal-control evaluation being effective is higher. On the other hand, the rate of obtaining a Standard Unqualified Opinion in the internal- control audit is greater.
Second, internal-control willingness can constrain true earnings management behavior, but cannot significantly affect accrued earnings management activities. The mechanism are as follows: The enterprise holds the internal-control objective of Reasonably Ensuring the Legality and Compliance of Operation and Management and the Safety of Assets, and is willing to work in a positive manner, that it can indeed reduce the occurrence of real earnings management behavior, but it cannot reduce the Manipulative Accrued Profit activity space. Of course, the existence of Manipulative Accrued Profit activity space does not mean that companies must actually have accrued earnings management behaviors.
Third, internal-control willingness exerts a moderating effect in the relationship between internal-control level and accrued earnings management, that is, enterprises with positive internal-control willingness to achieve high-quality internal-control level can significantly enhance the restraining effect of the Manipulative Accrued Profit activity space on which the accounting earnings management relies.
Our study, on the one hand, introduces subjective initiative factors into the field of internal control, discovers the important role of subjective initiative factors in construction of corporate internal-control activities, enriches the empirical evidence and practical cognition in the field of internal control, and has theoretical significance of partial research blanks to fill the gaps in this field. On the other hand, our study verifies the relevance and mechanism of internal-control willingness and different types of earnings management behaviors of enterprises, and proposes behavioral decision-making basis and policy recommendations for the corporate body and supervisory departments to realize the practical value of internal-control willingness.
The main contribution of our study lies in: Proposing and verifying the feasibility and application effect of internal-control willingness measurement method based on Python text analysis and machine learning methods. Empirical evidence shows that the internal-control willingness measurement method we designed can highlight the important role of internal-control subjective initiative in constraining earnings management behavior. We suggest that the board of directors and external supervisory departments pay attention to the cultivation of the internal-control willingness of enterprises, in order to improve the internal-control (overall) level of enterprises and restrain the earnings management activities of enterprises.

导出引用

刘斌李延喜迟健心. 内部控制意愿、内部控制水平与盈余管理方式——基于文本分析与机器学习的计量方法[J]. 科研管理. 2021, 42(9): 166-174

Liu Bin, Li Yanxi, Chi Jianxin Daniel. Internal control willingness, internal control level and earnings management methods——The measurement method based on text analysis and machine learning[J]. Science Research Management. 2021, 42(9): 166-174

参考文献

[1] COHEN D A, DEY A, LYS T Z. Real and accrual-based earnings management in the pre-and post-Sarbanes-Oxley periods[J]. The Accounting Review, 2008, 83(3):757-787.

[2] 方红星,金玉娜.高质量内部控制能抑制盈余管理吗?——基于自愿性内部控制鉴证报告的经验研究[J].会计研究,2011(8):53-60+96.

FANG Hongxing, JIN Yuna. Can high-quality internal control curb earnings management?——An empirical study based on voluntary internal control assurance reports[J]. Accounting Research, 2011 (8): 53-60+96.

[3] 范经华,张雅曼,刘启亮.内部控制、审计师行业专长、应计与真实盈余管理[J].会计研究,2013(4):81-88+96.

FAN Jinghua, ZHANG Yaman, LIU Qiliang. Internal control, auditor industry expertise, accruals and real earnings management [J]. Accounting Research, 2013 (4): 81-88+96.

[4] DOYLE J T, GE W, MCVAY S. Accruals quality and internal control over financial reporting[J]. The Accounting Review, 2007, 82(5):1141-1170.

[5] 张友棠,熊毅.内部控制、产权性质与盈余管理方式选择——基于2007～2015年A股非金融类上市公司的实证研究[J].审计研究,2017 (3):105-112.

ZHANG Youtang, XIONG Yi. Internal control, nature of property rights and the choice of earnings management methods——Based on an empirical study of A-share non-financial listed companies from 2007 to 2015 [J]. Audit Research, 2017 (3): 105-112.

[6] ASHBAUGH-SKAIFE H, COLLINS D W, KINNEY JR W R. The discovery and reporting of internal control deficiencies prior to SOX-mandated audits[J]. Journal of Accounting and Economics, 2007, 44(1-2): 166-192.

[7] 中国上市公司内部控制指数研究课题组,王宏,蒋占华,胡为民,赵丽生,林斌.中国上市公司内部控制指数研究[J].会计研究,2011, (12):20-24+96.

RESEARCH GROUP OF INTERNAL CONTROL INDEX OF CHINESE LISTED COMPANIES, WANG Hong, JIANG Zhanhua, HU Weimin, ZHAO Lisheng, LIN Bin. Research on Internal Control Index of Chinese Listed Companies [J]. Accounting Research, 2011, (12): 20-24+96.

[8] 林斌,林东杰,谢凡,胡为民,阳尧.基于信息披露的内部控制指数研究[J].会计研究,2016, (12):12-20+95.

LIN Bin, LIN Dongjie, XIE Fan, HU Weimin, YANG Yao. Research on Internal Control Index Based on Information Disclosure [J]. Accounting Research, 2016, (12): 12-20+95.

[9] DOYLE J, GE W, MCVAY S. Determinants of weaknesses in internal control over financial reporting[J]. Journal of Accounting and Economics, 2007, 44(1-2): 193-223.

[10] 李育红.公司治理结构与内部控制有效性——基于中国沪市上市公司的实证研究[J].财经科学,2011(2):69-75.

LI Yuhong. Corporate governance structure and internal control effectiveness: An empirical study based on China's Shanghai stock exchange listed companies[J]. Finance and Economics, 2011(2): 69-75.

[11] 张继德.两化深度融合条件下企业分阶段构建内部控制体系研究[J].会计研究,2013(6):69-74+96.

ZHANG Jide. Research on the staged internal control system of enterprises under the conditions of deep integration of the two industrializations [J]. Accounting Research, 2013, (6): 69-74+96.

[12] HANEMANN W M. Willingness to pay and willingness to accept: how much can they differ?[J]. The American Economic Review, 1991, 81(3): 635-647.

[13] 秦玉熙.IPO盈利预测自愿披露意愿减弱的原因[J].会计研究,2004 (11):76-80.

QIN Yuxi. Reasons for the weakening willingness of voluntary disclosure of IPO profit forecasts[J]. Accounting Research, 2004 (11):76-80.

[14] ELLIOTT W B, JACKSON K E, PEECHER M E, ET AL. The unintended effect of corporate social responsibility performance on investors' estimates of fundamental value[J]. The Accounting Review, 2013, 89(1): 275-302.

[15] GIBBINS M, MCCRACKEN S, SALTERIO S E. The auditor’s strategy selection for negotiation with management: Flexibility of initial accounting position and nature of the relationship[J]. Accounting, Organizations and Society, 2010, 35(6): 579-595.

[16] 张继勋,蔡闫东,刘文欢.标准审计报告改进、管理层和审计人员的关系与管理层沟通意愿——一项实验证据[J].审计研究,2016 (3):77-83.

ZHANG Jixun, CAI Yandong, LIU Wenhuan. The improvement of standard audit reports, the relationship between management and auditors, and the willingness to communicate with management——An experimental evidence [J]. Audit Research, 2016 (3): 77-83.

[17] SHARMA P, CHRISMAN J J, CHUA J H. Succession planning as planned behavior: Some empirical results[J]. Family Business Review, 2003, 16(1): 01-15.

[18] 余向前,张正堂,张一力.企业家隐性知识、交接班意愿与家族企业代际传承[J].管理世界,2013(11):77-88+188.

YU Xiangqian, ZHANG Zhengtang, ZHANG Yili. Entrepreneur’s tacit knowledge, willingness to handover and the intergenerational inheritance of family businesses[J]. Management World, 2013 (11): 77-88+188.

[19] 方红星,池国华,樊子君.内部控制(第三版)[M].大连:东北财经大学出版社,2017.02.

FANG Hongxing, CHI Guohua, FAN Zijun. Internal control (third edition) [M]. Dalian: Dongbei University of Finance and Economics Press, 2017.02.

[20] 李越冬,严青. 风险投资“抑制”还是“放纵”内部控制缺陷?[J]. 科研管理, 2019, 40(8):101-112.

LI Yuedong, YAN Qing. Risk investment "inhibition" is still "indulgent" internal control defects? [J]. Science Research Management, 2019, 40(8): 101-112.

[21] 上市公司盈余管理研究课题组. 中国上市公司盈余管理20年(1992-2012)[M]. 北京:经济科学出版:2016.

Research Group on Earnings Management of Listed Companies. 20 Years of Earnings Management of Listed Companies in China (1992-2012) [M]. Beijing:Economic Science Publishing: 2016.

[22] ROYCHOWDHURY S. Earnings management through real activities manipulation[J]. Journal of Accounting and Economics, 2006, 42(3):335-370.

[23] 刘斌,吴锡皓.内部控制评价能够提升会计稳健性吗？[J].南开经济研究,2019 (6):158-180.

LIU Bin, WU Xihao. Can internal control evaluation improve accounting conservatism? [J]. Nankai Economic Research, 2019 (6):158-180.

[24] DECHOW P M, SLOAN R G, SWEENEY A P. Detecting earnings management[J]. Accounting Review, 1995:193-225.

[25] 马永强,路媛媛. 企业异质性、内部控制与技术创新绩效[J]. 科研管理, 2019, 40(5):134-144.

MA Yongqiang, LU Yuanyuan. Enterprise heterogeneity, internal control and technology innovation performance [J]. Science Research Management, 2019, 40(5): 134-144.

[26] HOITASH U, HOITASH R, BEDARD J C. Corporate governance and internal control over financial reporting: A comparison of regulatory regimes[J]. The Accounting Review, 2009, 84(3): 839-867.

[27] 李瑛玫,史琦. 内部控制能够促进企业创新绩效的提高吗?[J]. 科研管理, 2019, 40(6):86-99.

LI Wei, SHI Qi. Is internal control to promote the improvement of corporate innovation performance? [J]. Science Research Management, 2019, 40(6): 86-99.

[28] 池国华,杨金,邹威.高管背景特征对内部控制质量的影响研究——来自中国A股上市公司的经验证据[J].会计研究, 2014, (11):67-74+97.

CHI Guohua, YANG Jin, ZOU Wei. Research on the impact of executive background characteristics on the quality of internal control——Empirical evidence from Chinese A-share listed companies [J]. Accounting Research, 2014, (11): 67-74 +97.