The Research Of The Effect Of Private Listed Corporate Governance Structure On Internal Control Disclosure

With the introduction of our internal control of a series of "norms" and "guidelines", Internal control information disclosure has become increasingly prominent and highly concerned by the regulatory authorities, investors and managers. How to improve the listed company’s internal control information disclosure level to achieve the information needs of the users, is highly explored issues. In view of former scholars are selected A-share listed companies as an object of study, very few studies private listed companies, This article studys internal control information disclosure of private listed company based on the corporate governance, to explore Chinese private listed company’s internal control information disclosure of the current situation、influencing factors、the corporate governance structure of the internal control disclosure of information and how to enhance the quality of internal control information disclosure based on the corporate governance of private listed companies.Referring to the related studies on internal control information disclosure at home and abroad, firstly, this paper points out that the concept and relationship between corporate governance and the internal control information disclosure and makes clear the theoretical basis of the corporate governance and internal control information disclosure. Based on this, this paper analyzes the current situation and the courses of internal control information disclosure in private listed companies, through chosen715private listed companies as sample from the Shanghai stock exchange market in2009-2011.Then, based on the sample company’s Annual Report, choose corporate governance indicators as explanatory variables, besides, it built the internal control information disclosure index (ICDI) as the explained variables for research, adopted SPSS17.0and EXCEL to process data. The study results showed that the corporate governance structure influenced the quality of internal control information disclosure:equity balance degree、the stock proportion held by supervisors、 executives salary、company size and earnings per share were positively related with internal control disclosure; equity concentration、the size of the board and whether the chairman is also the general manager were negatively related with internal control disclosure, but no significant; the proportion of the independent directors, the scale of supervisors were negatively related with internal control disclosure, but no significant and inconsistent with the assumption. According to the results of analysis, combined with the selected explanatory variables, this paper from four aspects of corporate governance structure:optimizing the shareholding structure, improving reasonable board structure, strengthening the functions of the Board of Supervisors, and improving the incentive mechanism of managers put forward some suggestions, excepted to have some help to improve the internal control information disclosure level in the practice activities.