Effects of Corporate Governance on Accounting Education and Enterprise Value in High-Tech Industry

Abstract

Corporate governance, an important study on enterprise operation and management, aims to have an enterprise effectively supervise organizational activity and operation through favorable management and supervision systems or mechanisms. When a company presents sound corporate governance, the managers would maximize corporate value and shareholders' equity to enhance the business performance and corporate value.Listed high-tech industries in Shanghai are sampled for this study. The data are acquired from China Economic and Financial Research Database. The research results conclude 1.significantly positive correlations between corporate governance and Accounting Education, 2.remarkably positive correlations between Accounting Education and enterprise value, 3.notably positive correlations between corporate governance and enterprise value, and 4.mediation effects of Accounting Education between corporate governance and enterprise value. The results could provide reference for managers in domestic high-tech industries making investment decisions and governmental authorities formulating relevant regulations. Good match with corporate governance allows a company thoroughly developing the benefit of capital expenditure to further create higher corporate value.

Influência do investimento em bens de capital no desempenho econômico-financeiro sob a moderação da governança corporativa

“…E muitos dos resultados não apresentaram significância estatística, impossibilitando a confirmação de relação entre as variáveis (McConnell e Muscarella, 1985;Fortunato et al, 2012;Alarcon e Sanchez, 2013;Saito e Padilha, 2015;Tortoli e Moraes, 2016;Fernandez-Cuesta et al, 2019;Jaisinghani et al, 2018;Chen e Chang, 2019;Moser et al, 2019). Ademais, apesar de se encontrar trabalhos que citam a governança corporativa como potencial mitigadora das imperfeições de mercado, ela não foi inserida nos modelos (Laksmana e Yang, 2015;Alexandridis et al, 2018;Jiang e Zhang, 2018;Chen e Chang, 2019) Os resultados deste trabalho mostraram que o investimento impacta significativamente sobre liquidez, endividamento, atividade operacional e valor de mercado. Adicionalmente, observa-se a moderação da governança corporativa sobre as relações entre investimento em bens de capital e indicadores que refletem resultados voltados para o mercado: liquidez, endividamento, e valor de mercado.…”