| The high quality, transparent information disclosed by the listed companies cansolve asymmetry information problems in capital market and reduce the costs oftransaction. Thereby it will enhance the efficiency of capital markets, improve theallocation of resources and promote economic growth. As one of the informationdisclosed by the listed companies, the information of internal control is the informationabout how the internal control operate which is disclosed to the public, it is an importantway for the investors to understand the economic situation of the investment company.Therefore both domestic and international theorists and practitioners take the issue ofinternal control information disclosure very seriously. Many scholars have found in theirstudies the industry is one of the facts that influent the information disclosure of theinternal control, so this paper choose real estate industry as the research object. Realestate industry is very important in China’s economic.In this paper, with the uses of annual public data of China’s real estate industrylisted companies from2008to2010in Shanghai and Shenzhen A shares, construct anevaluation system to measure the degree of disclosure of internal control, based on thestudy of the situation of information disclosure of internal control in the real estateindustry listed company, study the factors which infect the disclosure from both basiccharacteristics and corporate governance. It shows that the disclosure of internal controlinformation in China’s real estate industry is not satisfactory. There are some problemssuch as the disclosure is incomplete, the disclosure form is not uniform.It shows that the disclosure of internal control information in China’s real estateindustry is not satisfactory. There are some problems such as the disclosure isincomplete, the disclosure form is not uniform. Through to the study about the influencefactors of the real estate of the listed company’s internal control information disclosurewe found that The greater the size of the companies, internal control disclosure of thesituation; the first big shareholders for the state shares the companies, the better itsinternal control information disclosure situation; the higher the ownership concentration of the companies, the better internal control disclosure; the companies which set up theaudit committee of the company, internal control disclosure of the situation; thecompanies which choose "ten" accounting firm company, relative to choose smallerfirms company, its internal control information disclosure situation is better; thecompanies which has been issued qualified auditing opinions by the audited work unit,the situation of internal control disclosure is better. And profitability, shareholding ratioof management, the size of the board of supervisors and the proportion of independentdirectors have no significant impact.At the end of the study we find some recommendations to improve the disclosureof internal control: To strengthen the internal control relevant information disclosuresystem construction; Improve the internal management structure, including perfectingthe ownership structure, perfect the supervision board and perfect the system ofindependent directors; Strengthen external supervision. |
