Csr,Internal Audit Quality And Corporate Value

After the reform and opening-up,China's economy has taken off rapidly and made countless achievements.However,the traditional uncontrolled development model gives enterprises a serious warning: resource shortage,environmental pollution and ecological imbalance.And at the same time,the neglect of the rights and interests of employees,consumers and other enterprises has also led to a series of social problems.The rapid growth of China's economy is in serious contradiction with social harmony and ecological balance: the social environment becomes more and more unstable due to the rapid development of the economy,and the irreversible damage to the environment is aggravated.Heavy pollution industry has typical characteristics of high economic benefits,low social and ecological environmental benefits.In the new era,heavy polluting enterprises are in a dilemma of development.So in the process of creating value,whether enterprises can correctly deal with the relationship with the ecological environment and the whole society,and how to effectively monitor and evaluate the performance of corporate social responsibility are the problems that heavy polluting enterprises need to pay attention to and solve.Based on this,this thesis chooses the research perspective according to the current background of our country,and puts forward the research purpose.,and then on the basis of summarizing the relevant research results at home and abroad,uses "stakeholder theory","fiduciary responsibility theory" and "enterprise value maximization theory" to analyze the Internal Linkages among Corporate Social Responsibility,Internal Audit Quality and Corporate Value.Then uses the questionnaire survey method to investigate the implementation of social responsibility of heavy pollution enterprises in China,and analyze the existing problems.Next,according to the?List of Classified Management of Environmental Protection Verification Industries of Listed Companies?,this thesis selected listed enterprises in heavy pollution enterprises from 2013 to 2017 as the research sample.From the perspective of stakeholders,this thesis constructs an index system of CSR,selects four indicators to measure the quality of internal audit from the perspective of corporate governance,then uses factor analysis method and entropy weight method to measure CSR and internal audit quality.Tobin's Q is used to measure corporate value.On this basis,a multiple regression model is established to empirically test the relationship between CSR and corporate value,and the moderating role of internal audit quality between CSR and corporate value.The empirical findings suggest that CSR promotes corporate value,and high-quality internal audit can effectively enhance the positive impact of CSR on corporate value.In view of this,this paper puts forward countermeasures and suggestions from two aspects of promoting CSR and improving the quality of internal audit,hoping to provide reference for heavy pollution enterprises to realize value added and sustainable development.The innovations of this thesis are taking the heavily polluted listed enterprises from 2013 to 2017 as an example,and studying the moderating role of internal audit quality between CSR and corporate value.