Research On Relation Of Internal Control Factors And Corporate Value In Listed Companies

As the development of corporate internal control theory, its factor and system is also improving. From the stage of two-factor, which is composed of internal accounting control and internal management control , to the stage of three factors, which is composed of control environment, accounting system and control procedure. Then the stage of five-factors is coming, the five factors can be described as control environment, risk assessment, control activities information and communication, monitoring. The research of internal control has become more and more mature in America and other developed countries, where it guides the practice of corporate internal control.However,the contribution of internal control in our country started later than other developed counties. In practice, the internal control in our companies is so weak that the internal management is in disorder and the accounting information is seriously false. On this background, it is very important to go deep into the internal control theory, in order to make the management pay more attention to build an effective internal control system. This article is based on such starting point. It applies both standard research method and empirical research method in relation between internal control factors and corporate value, aims at providing new ideas on how to build internal control evaluation system of our listed companies and how to improve our corporate internal control.Firstly, the article summarized the relative research achievements on internal control both home and aboard. Secondly, it deeply analyzed the theory foundation of relation of internal control factors and corporate value. At last, the article contributed the model and drew a conclusion that there is relation between internal control factors and corporate value.In research methods, the article contributed internal control evaluation system index, in order to prove its conclusion. By using concrete data acquired from our listed companies to empirical research, it comes to the conclusion that internal control factors and corporate value have direct correlation, and this trend becomes more and more significant as the development of our stock market.