本研究以台灣上市櫃公司為對象，探討企業內部控制之風險評估與控制作業對會計資訊品質與其信用風險及外資持股率之關聯性。實證結果顯示，企業內控之風險評估與控制作業達成度對會計資訊品質的影響呈顯著正相關，並與企業信用風險評等呈顯著負相關，此顯示公司落實內控之風險評估與控制作業，可有效提升其財務資訊品質，同時降低信用風險，使債權人與投資大眾能更信任企業，安心放貸與投資。另實證結果顯示，企業內控之風險評估與控制作業對會計資訊品質的影響，以及會計資訊品質對外資持股率，皆呈現顯著正相關，但內控之風險評估與控制作業對外資持股率雖呈現負相關的影響，但未達顯著水準，推測外資投資本國企業尚有其他考量因素，如企業獲利能力。本研究進一步以會計資訊品質為中介變數，探討企業內控之風險評估與控制作業是否會透過會計資訊品質，對信用風險評等及外資持股率產生重大影響？實證結果顯示，企業愈落實內控之風險評估與控制作業，除可提升會計資訊品質外，並進一步增加外資持股率且可降低企業信用風險等級。因此，企業在落實內部控制制度的同時，致力提升財務資訊品質，可降低其信用風險，創造優質投資環境，增加國內投資及外國投資機構之資金流入，延續企業成長及永續經營。;This study examines the association between the risk assessment and control activities of internal control system, the quality of accounting information, TCRI grade and foreign investor shareholding rate for Taiwan IPOs. The empirical results show that risk assessment and control activities of internal control system is positively related to accounting information quality, and both of them are negatively related to TCRI grade. Therefore, those firms have good risk assessment and control activities of internal control system operation can increase their accounting information quality and decrease TCRI grade. It facilitates creditors and investors’ confidence. The research finds that risk assessment and control activities of internal control system operation have a positive effect on accounting information quality and accounting information quality have a positive effect on foreign investor shareholding rate, too. Risk assessment and control activities of internal control system operation have a negative but not significant effect on foreign investor shareholding rate. It shows that foreign investors consider many factors when they make investment choices. For example, profitability of companies. The study also uses quality of accounting information as a mediator to examine whether risk assessment and control activities of internal control system operation have effects on foreign investor shareholding rate and TCRI grade. The results show that mediation effects exist. Therefore, those enterprises want to attract domestic and foreign investment should try their best to create an excellent quality of investment environment by implementing their risk assessment and control activities of internal control system and strengthen accounting information quality.
