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| An Empirical Study of Internal Control in Higher Education Institutions Based on Semantic Analysis |
| YANG Zhiqing，ZHANG Xiaojie |
| 1. Huazhong Agricultural University, Wuhan, China；2. Zhongnan University of Economics and Law, Wuhan, China |
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Abstract In order to evaluate the internal control management level of colleges and universities, this study investigates the impact of internal control on operating budget in higher education institutions using the data of 52 institutions directly administered by the Ministry of Education (MOE) in China. These institutions are all inspected by the MOE in the second wave. Based on the feedback of the inspection, the study uses the semantic differential method to evaluate the internal control management level of these higher education institutions. And then, the study examines the impact of internal control management level on the budget of the institutions. The results show that the internal control management level of higher education institutions has a significant positive correlation with either the revenue budget or the expenditure budget; and it has been affected for a long time, which means that sound internal control can effectively raise the budget level in higher education institutions. With further grouping regressions on different types and natures of universities, the results show that the impact of internal control level on budget is different among different institutions..Consistent results are obtained using the alternative explanatory variables for stability testing.
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Received: 15 February 2019
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