Government Auditing,Regional Corruption And SOE Performance

On September 30,2018,the China Securities Regulatory Commission promulgated the latest revised "Guidelines for the Governance of Listed Companies",which emphasized the need to gradually strengthen the governance of listed companies,regulate the standard system of listed companies,and promote their long-term development.And the external institutional environment in which the company is located and its slight changes will have a significant impact on company performance.Government auditing organs supervise the financial and economic activities of the state according to law;auditing and supervising the financial activities of state-owned enterprises to ensure the reasonable compliance of economic activities of enterprises and improving economic efficiency are the inevitable requirements for government audits to perform their functions and positioning.The problem of corruption governance can affect the harmony and stability of the country and enterprises,and has always been a major problem that plagues the practical and academic circles,and government audits are an effective measure to prevent corruption.With the development of China's market economy,the reform of state-owned enterprises has entered a critical stage.How government audits keep up with the reform of state-owned enterprises,how to play the role of corruption governance and audit supervision of state-owned enterprises,and promote the healthy and long-term development of state-owned enterprises is an urgent proposition.Based on the above analysis,this paper combines the theory of fiduciary economic responsibility,immune system theory and rent-seeking theory,with government audits,corruption-related data of China's provinces,autonomous regions and municipalities,and data on state-owned enterprises of listed companies in Shanghai and Shenzhen in2011-2016.To study the sample,empirically explore the relationship between government audit,regional corruption and corporate performance.This paper selects the four variables of government audit execution,punishment,collaboration and display as the measurement variables of government audit to study the relationship between government audit and regional corruption and its performance with state-owned enterprises.The research finds that: government audit can promote the performance improvement of state-owned enterprises;the degree of regional corruption can reduce the performance of state-owned enterprises;government audits can promote the improvement of performance of state-owned enterprises by suppressing corruption,that is,the relationship betweenregional corruption in government audits and the improvement of performance of state-owned enterprises China plays an intermediary role;further research finds that government audits in central SOEs are more capable of improving corporate performance than local SOEs.The innovation of this article lies in the following two points: first,a more systematic discussion of the impact of regional corruption on the performance of state-owned enterprises,and expanded research on the impact of anti-corruption on the micro-enterprise level;The indirect role of corporate performance,and further research on the impact of government audits on corporate performance in central and local state-owned enterprises,which has improved the research on government audits for micro-enterprises and state-owned enterprises at different levels to a certain extent.Put forward targeted suggestions from two aspects: government audit governance and corruption governance.