An Empirical Study Of The Internal Capital Market Interests Output Behavior Of The Enterprise Value

With the development of economic globalization the trend of the development ofenterprise groups continue to develop. Related party transactions within the enterprisegroup behavior become extremely active. Study the internal capital market issues, youcan more clearly understand the behavior of the interests of the related partytransactions infulunce the value of enterprise groups,and it has a high theoretical andpractical value for the inhibition of the interests of the output behavior and canenhance enterprise value.The enterprise groups in China and its listed companies have Frequent relatedparty transactions,and the internal investors who have control power are likely to usemanagement decision-making advantage to damage the interests of otherinvestors.Internal capital market has become the tool that the largest shareholderpredate the minority shareholders and it reduces the value of the enterprise.In this paper, I want to study the impact on the enterprise value of the interests ofthe output behavior by the behavior of related party transactions of listed companiesenterprise groups in China's internal capital market. The results showed that thebehavior of related party transactions of listed companies are extremely active and theinternal capital markets exist in China's enterprise groups. While empirical studieshave shown that the existence of internal capital market of China's enterprise reducethe value of the business, Finally, the paper make policy recommendations about theconclusion of how to restrain the output behavior lower the value of internal capitalmarket interest.