Study On The National Audit's Impact On The Performance Of Listed Central Enterprises

The national audit is emerged and developed accompanied by the development of public accountability.With the promotion of economy and society,public accountability is no longer confined to financial and management level.It is an important part of public accountability to solve the social problems to ensure the healthy operation of the economy and society.For this purpose,the ultimate purpose of national audit is to focus on meeting the needs of national governance,revealing and repairing institutional mechanisms,ensuring the healthy and sustainable operation of the national economy and society,and realizing the "good governance" of the state.As an important pillar of China's national economy,the governance of the central enterprises is a vital aspect of improving the national governance ability to ensure the sustained and healthy operation of the national economy.However,in the process of the reform of central enterprises,there are still a series of problems exposed.These problems also reflect the internal governance problems of central enterprises,such as internal control.As an important part of the external supervision and accountability mechanism of the central enterprises,the improvement of the central enterprises' governance efficiency imposed by national audit is the proper meaning of the national audit governance function and the fulfillment of the public accountability.Therefore,in order to give full play to the function of national audit governance and promote the healthy and sustainable development of central enterprises to improve the national governance capacity as a whole,we need to further study the impact of national audit on the performance of central enterprises.Based on the theory of public accountability,the paper is aimed to make theoretical analysis and empirical research on the effect and ways of the functions played by the national audit on the performance of listed central enterprises,try to build a theoretical framework of national audit's impact on the performance of listed central enterprises and explore the ways to achieve it.Therefore,according to the the list of central enterprises announced by SASAC,the paper chooses listed central enterprises in Shanghai and Shenzhen stock market as samples for empirical analysis.And it tests the characteristics of central enterprises chosen by national audit,explores whether the function of national audit has been effectively played,and whether the quality of internal control has a mediating effect between the national audit and the performance of central enterprises.The empirical research has come to the following conclusions: firstly,the central enterprises chosen by national audit show the characteristics of large scale and poor performance.Meanwhile,the descriptive statistics also show that the frequency of being audited by national audit on central enterprises is low and should be strengthened.Secondly,the national audit intervenes in the central enterprises to exert governance function which plays an important role in improving the quality of the internal control of the enterprises.Thirdly,playing the function of national audit is beneficial to the improvement of the performance of central enterprises,and the quality of internal control plays a partial mediating effect between the national audit and the performance of central enterprises,which plays an important role in improving the performance of enterprises.The innovation of this paper is that it provides empirical evidence for the effect of national audit on the performance of central enterprises,and studies its approaches in the way of mediating effect,which provides a new idea for the empirical research of national audit.According to the problems of audit and results of empirical research about central enterprises,this paper puts forward the inspiration of management to improve audit's efficiency and performance of central enterprises from the perspective of strengthening the government function of national audit on central enterprises and internal control auditing carried out on central enterprises by national audit.