上市公司审计委员会履职行为的审慎度与业绩波动

摘要

Previous papers emphasised on the corporate governance structure, and we focus on the behavior of directors. The behavior analysis is an inevitable step on the switch from governance structure study to governance mechanism study. In this paper, we find that the credibility and the diligence of audit committee behaviors are helpful to reduce the earnings volatility in the companies with higher business risks. It has a realistic significance to improve the risk management effect, showing us the prudential behavior of directors is an important factor for risk management.%关于公司治理的研究，以往文献的解释重点在于治理结构，本文侧重于分析董事会的履职行为。履职行为是联结治理结构与治理成效的中间环节，对董事行为展开分析也是从治理结构研究转向治理机制研究的必然过程。本文经研究发现，审计委员会履职行为的可信度和适度勤勉，有助于降低那些位列于较高经营风险组的上市公司的业绩波动。这说明，审慎履职是企业风险管理中的重要因素。本文的研究对于提升风险治理成效具有现实意义。