公司內部控制缺失與現金價值

Internal Control Weakness, Cash Holdings, And Firm Value

黃奕穎(I-Ying Huang)

指導教授 ： 周庭楷

國立中正大學/管理學院/會計與資訊科技學系/碩士(2012年)

並列摘要

This study examines the relation between value of cash and internal control weakness. Using material internal control weakness reports under Sarbanes-Oxley 404, I find that firms occurring material weakness in internal control are generally associated with lower value of cash holding. I further find that the relation is stronger for the internal control problems associated with entity-level than ones associated with account-level. Moreover, the value of cash will be increase after firms has a qualified remediation on the internal control deficiency. I find similar results employing an alternative measure of value of cash, and the results are robust to controlling for potential endogeneity concerns.

並列關鍵字

internal control weakness ； cash holding level ； value of cash ； Sarbanes-Oxley (SOX)

參考文獻

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