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Research on Internal Control and Corporate Value in Listed Companies

Author: LinDong
Tutor: LiRongMei
School: Liaoning University
Course: Accounting
Keywords: Internal Control Enterprise Value Evaluation Index
CLC: F275
Type: Master's thesis
Year: 2012
Downloads: 223
Quote: 0
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Abstract

In recent years, with a number of listed companies from the stock fell to bad caseseven bankruptcy of enterprise efficiency landslide, large enterprises at home and abroadhave been exposed the phenomenon of financial favoritism scandal after another, theexposure of these scandals in the marketplace the image and the future developmentprospects of the enterprise will result in a significant negative impact, but also causingserious damage to the international investment market. How to prevent similar incidentsfrom happening again, how to standardize business operations all aspects of the process,how to reduce the potential risks that may arise, at home and abroad were introducedmany of the norms on the internal control, internal control system of concern in recentyears research subject. The pursuit of profit and value growth is a common goal intoday’s market, rarely based on the perspective of business management to enhancecorporate value for the internal control to explore research in the theory and practicecommunity.This project is another way to focus on enterprise value, corporating governance isintroduced into the field of internal control. Internal audit and control perspectivetowards the strategic position of the enterprise value-added. The issues discussed inprevious research experience as a reference to start from the analysis of internal controls,its enterprise value on a system to study the relationship between the two, and then theinternal control as a means of business management to enhance corporate value, toimprove the effect of corporate governance. Extend the breadth and depth of China’sinternal control of doctrine. I first read a lot of literature on the basis of first summarizedand outlines the research of scholars of internal control, on this basis, summed up themodern theoretical circles for the definition of the concept of internal control and reviewthe process of its evolution in collecting. Then described the important elements of theinternal control, the five elements of the framework of this theory in the empiricalconsider the theory of reference in the index selection. Then explained the mechanism ofinternal control is passed enterprise value, the article assumes that the proposedtheoretical basis. I combined with the empirical data of listed companies by the end of2010and previous internal control the use of the evaluation of the five elements, expressed as explanatory variables formed the basis of the internal control elements withquantifiable internal control evaluation, complemented by three control variables.Internal control the comprehensive evaluation index is a key link in this paper, the listedcompanies in China, in the evaluation of internal control in accordance with differentimportance to each evaluation division level, giving each index in line with the weight ofits degree of importance, five of the level of internal control Composite factor indicatorsand internal control enterprise value index correlation and regression analysis Thefindings show that: the negative correlation of the supervisory elements of the enterprisevalue should be relevant departments, internal control by the five elements is passed tothe enterprise control of environmental factors in the value of the five elements is toimprove the quality of internal controls is the key to enhance corporate value, and thenverify that a superior system of internal controls a great extent to promote theenhancement of corporate value.This paper aims to study the internal control and enterprise value implied relationshipbetween the ultimate value-added focus on value. Measures to regulate the internalcontrol of listed companies in China to provide a basis for practitioners to take hope outof modest means to establish the contribution of the internal control system and improvethe listed companies in China.

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