TY - BOOK AU - Yang,Daoguang TI - Beyond internal control over financial reporting: the Chinese experience SN - 9781032697673 U1 - 657.45/0951 23/eng/20230901 PY - 2024/// CY - Abingdon, Oxon, New York, NY PB - Routledge KW - Auditing, Internal KW - China KW - Accounting KW - Financial statements KW - Financial risk management KW - BUSINESS & ECONOMICS / Accounting / General KW - BUSINESS & ECONOMICS / Accounting / Managerial KW - BUSINESS & ECONOMICS / Accounting / Financial N1 - Introduction -- Literature Review -- Theoretical Hypotheses -- Internal Control and Financing: Corporate Cash Policies -- Internal Control and Investment: Mergers and Acquisitions -- Internal Control and Profit Distribution: Corporate Tax Avoidance -- Internal Control and Corporate Strategy Development: Diversification Strategy -- Conclusions -- Recent Progress and Research Prospects N2 - "By examining two different modes of internal control and the fundamentals of risk management, this book analyses the role of internal control in finance, investment, dividend allocation and corporate strategies through China's experience. In doing so, it confirms the effectiveness and superiority of internal control in operation and management. The book compares the various internal control methods used in China and the USA, namely, operation and management-focused versus financial reporting-oriented approaches. It also discusses the differences in corporate risk attitudes and behaviours under the two approaches. The author then proposes the hyper-correction hypothesis and the trimming hypothesis. Empirical findings regarding corporate cash policy, mergers and acquisitions, tax avoidance, and diversification strategy reveal that internal control in China does not result in undue risk aversion but instead manages enterprise risk within a reasonable threshold. These results support the Trimming Hypothesis and demonstrate that internal control is a useful risk management tool. The title will appeal to students, academics and accounting professionals interested in internal control (risk management), accounting, auditing and corporate finance, regulation and governance"-- UR - https://www.taylorfrancis.com/books/9781032697673 ER -