内部控制对创新风险的作用机制——基于风险缓和模型的研究

被引：22

作者：

田丹 ^{[1
]}

吕文栋 ^{[2
]}

刘凯丽 ^{[3
]}

机构：

[1] 东北财经大学管理科学与工程学院

[2] 对外经济贸易大学国际商学院

[3] 陆军勤务学院国防经济系

来源：

财贸经济 | 2022年 / 43卷 / 05期

关键词：

风险管理; 内部控制; 创新风险; 风险缓和; 研发投资;

D O I：

10.19795/j.cnki.cn11-1166/f.20220505.010

中图分类号：

F273.1 [企业技术管理]; F275 [企业财务管理]; F832.51 [];

学科分类号：

1202 ; 120202 ; 1201 ; 020204 ;

摘要：

创新是一个充满风险和不确定性的过程，内部控制是一套系统、规范化的风险管控机制。过度的创新会使企业暴露于风险之中，过度的风险规避会阻碍创新，企业需要在这两者之间保持平衡。高水平的内部控制既要在规避损失中稳定运营，又要帮助企业抓住机会类风险，突破常规、开创新的市场机遇从而创造新的价值。本文引入风险缓和模型检验企业创新过程中内部控制的双重功能，采用我国1706家上市公司2007—2018年的数据，实证检验了内部控制在研发投资与营业收入波动之间的调节效应，结果表明，我国上市公司仅能“择一而从”,未能做到“两全其美”。在利用式创新过程中，内部控制能够发挥损失控制的功能，有效应对创新风险，降低销售收入下行波动，保持经营的稳定性；而探索式创新的不确定性大，现有内部控制框架不能有效识别、分析、应对不确定性风险，未能帮助企业把握机会进而实现价值创造。

引用

页码：129 / 144

页数：16

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