Government Audit,Executive Corruption And State-owned Enterprise Innovation

Under the background of economic globalization,the international market competition is extremely fierce.Only by continuous reform and innovation can state-owned enterprises guide China's economy into the international market and occupy a favorable position.At present,the Chinese government proposes the goal of building an innovative country.As the pillar of the national economy,state-owned enterprises should play a leading role in innovation and drive the development of China's economy.To achieve the innovative development of state-owned enterprises,the corruption of state-owned enterprise executives is one of the major issues that need to be resolved urgently.The main cause of corruption is due to the fact that the rights of state-owned enterprise executives are too concentrated,executives are above internal supervision and the rights control mechanism is invalid;on the other hand,corruption is concealed and collusion causes corruption.It is increasingly difficult to identify and discover.As an important part of the national supervision system,government audit can play an important role in corruption governance.The role of government auditing is to combat corruption and reduce the occupation of innovative resources by rent-seeking behavior.What's more,government auditing also helps to build a fair market environment,increase market competition for corporate innovation,and then promote corporate innovation performance.Based on the theory of economic responsibility,rent-seeking theory,government audited "immune system" theory and economic man hypothesis theory,this paper combines existing literature research and current institutional background,analyzing the impact of corruption on state-owned enterprise innovation.Considering the function of government auditing to prevent,reveal and resist corruption,this paper also studies the regulatory role of government auditing in corruption and state-owned enterprise innovation.The article takes the data of the listed companies of the Shanghai and Shenzhen A-share central enterprises as the initial sample,and processes the samples through the propensity score matching method(PSM).Based on this,a correlation model is established to test the assumptions made.At the same time,the inter-period dynamic analysis of the sample compares the relationship between corruption before and after government audit and the innovation of state-owned enterprises,so as to further analyze the relationship between government audit,corruption and stateowned enterprise innovation.Through empirical research,the following conclusions are drawn: Corruption has a negative impact on the innovation of state-owned enterprises,and corruption makes innovation resources not in place,which fundamentally hinders the process of innovation;government audits weaken the negative impact of corruption on state-owned enterprise innovation,in government audit Under the influence of the system,it can effectively improve the suppression of corruption in state-owned enterprises,and government audit plays an important role in national governance.Therefore,China should actively play the potential deterrent effect of government audit on corporate governance,establish a long-term mechanism for the use of government audit results,create a fair and effective market environment,and enhance the motivation for state-owned enterprises to innovate.