The Impact Of Private Listed Company’s Ownership Structure On The Quality Of Internal Control Information Disclosure

In recent years, internal control disclosure of information more and more attention, andwith a series of internal controls "norms" and "Guidelines" promulgated, the heat rising, bythe investors, the relevant state departments and management close attention. How to improvethe effectiveness of the implementation of the internal control of listed companies, and reportsissued by the relevant information to meet the information needs of those needs is a need tofurther explore the deep problems. Previous scholars object is to select the main board listedcompanies, private listed companies in this piece, but there are few scholars to study, thisarticle from the equity point of view, China’s private listed on the company’s internal controlstatus information disclosure has been studied, mainly related to the implementation ofinternal control and the emergence of private listed companies announced when the currentproblems affecting the shareholding structure of the Company’s internal control informationdisclosure based on the company level, and how the angle of the shareholding structure ofChina’s private listed companies to improve internal control information disclosure level.In recent years, the internal control information disclosure in China is not satisfactory,the impact of the investors to make rational and effective decisions. China’s internal controlstatus of private information disclosure of listed companies, a number of enterprises tostandardize the system is not in place because the produce, some of which are not clearbecause the relevant standards and produce. This paper believes that the factors affecting thelevel of our enterprise internal control disclosure of information are many, but there is onevery important aspect is that the ownership structure affect the level of disclosure of privateenterprise internal information.Object of study is our2011-2012Shanghai A shares260internal private listedcompanies to disclose control information, the approach is theoretical and empiricaldemonstration combining paper stocks from institutional shareholding percentage ofownership concentration equity balance three aspects of its internal control how it affects thelevel of information disclosure. Firstly, the related concepts and theoretical aspects of theanalysis of internal control, and secondly, this paper describes the current situation of China’sprivate listed company’s internal control and the problems that currently exist. Finally, the text describes the premise of the above, the use of relevant data on the relationship betweenownership structure and scoring system of internal control information disclosure indicatorsempirical research. The empirical results also support the assumptions made in this article,namely: the proportion of institutional ownership and equity balances of the privateenterprises listed on the company’s internal control information disclosure level wassignificantly positively related to ownership concentration and dispersion of informationdisclosure and internal control situation showing the degree of negative correlation. The paperconcludes with a number of aspects can improve the situation of these two views and opinionsfrom the ownership structure and the level of disclosure of information in terms of bothresearch and development in the future, full of vision.