金融科技、财务风险与公司治理

以沪深A股上市企业2011—2020年数据为研究样本，运用固定效应模型，研究金融科技与公司治理水平的关系以及财务风险在其中的中介作用。结果表明：金融科技能够显著提高公司治理水平，企业财务风险在两者之间发挥部分中介作用；金融科技对会计信息披露质量优秀企业的治理水平影响最大，对会计信息披露质量不合格企业的治理水平没有显著影响；相对于内部控制存在缺陷的企业，金融科技对内部控制不存在缺陷的企业促进作用更大。为此，政府应对金融科技企业给予足够的政策支持，完善金融监管体系；企业应加大运用金融科技的力度，提高会计信息披露质量，减少企业内部控制缺陷，降低企业财务风险，以提高公司治理水平，促进企业高质量发展。

Financial Technology, Financial Risk, and Corporate Governance

Using the fixed effects model and the data of A-share listed companies in Shanghai and Shenzhen from 2011 to 2020 as the research sample, this paper studies the relationship between financial technology and corporate governance level and the mediating role of financial risk as well. The results indicate that fintech can significantly improve corporate governance, and corporate financial risk plays a partial mediating role between the two; the impact of fintech is the greatest on the governance level of enterprises with a high quality of accounting information disclosure, but it is not obvious on those with unqualified accounting information disclosure; fintech has a greater promoting effect on enterprises without internal control deficiencies than those with internal control deficiencies. Therefore, the government should provide sufficient policy support for fintech enterprises and improve the financial supervision system; enterprises should intensify the application of financial technology, improve the quality of accounting information disclosure, reduce internal control deficiencies, and reduce financial risks to improve corporate governance and promote high-quality development.