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The Study On The Influencing Factors For Internal Control Information Disclosure Of Pharmaceutical Manufacturing Listed Companies

Posted on:2015-05-29Degree:MasterType:Thesis
Country:ChinaCandidate:Y L SuFull Text:PDF
GTID:2309330434452806Subject:Accounting
Abstract/Summary:PDF Full Text Request
After the exposure of Enron accounting scandal, a series of scandals about global companies such as Worldcom Xerox Global Crossing were exposed in succession. In recent years, these kinds of scandals are taken place frequently in the pharmaceutical industry which is special and related to human life and health. In abroad, Merck and GSK are shocking. Coincidentally, scandals in some domestic pharmaceutical companies such as financial fraud or Drug counterfeiting were exposed in succession. In2001, Sanjiu Medical&Pharmaceutical Co., Ltd was exposed that its shareholders and relevant participants by the media occupied the capital of the listed companies more than25billion yuan, which caused uproar in the Capital market. In2006, financial fraud in Huayuan was exposed and then the news that Qiqihar second pharmaceutical Co., Ltd was shuted down because of Drug counterfeiting was exposed. In2011, JLZX was put on file for investigation and prosecution by the CSRC because It was suspected to have illegal behavior in related-party transactions. During the period from2012to2013, financial fraud was exposed in SHANGHAI PHARMACEUTICAL co.,1td.Kangmei Pharmaceutical Co was stuck in accounting fraud. The media exposed that Xiangxue was suspected to make false achievement to be listed.These frauds make great damage to the securities market and destroy the investors’confidence. Therefore, internal control information disclosure is concerned by the public and becomes a hot area of research. Occurrences of these frauds have a common point that above-mentioned companies had loopholes in internal control system, namely, they are related to the unsound system of internal control information disclosure directly.Different industries have different characteristics. They also have differences in internal control information disclosure. At present, the majority of researches which focus on internal control information disclosure are confined to financial industry and real estate industry. Pharmaceutical industry is a special industry which is related to human life and health. It is high-risk so the particular field should be put into risk control. But what happens is that the internal control information disclosure of pharmaceutical manufacturing listed companies? What factors will affect the disclosure of internal control information? What method should we use to improve the quality of internal control information disclosure of pharmaceutical manufacturing listed companies? This thesis will focus on these questions and make discussions and researches and expect to make a contribution to the improvement of internal control information disclosure of pharmaceutical manufacturing listed companies.This thesis contains six chapters; the brief introduction of content is followed:This first chapter is Introduction. First, this chapter introduces the background and meaning. Second, reviewing domestic and overseas literatures about disclosure of internal control information. At last, introducing the study content, the research methods and innovations.The second chapter summarizes the information disclosure of internal control. At the beginning, this chapter defines the concept of disclosure of internal control information. Then, it explains the internal control disclosure of information theories. Finally, giving a brief introduction of the system evolution, the subject and disclosure form.The third chapter is study design. The author first creates an quality evaluation index system of internal control information disclosure by using Content analysis. Next, on the basis of preceding research of the first two chapters, and combining it with the characteristics of present Capital market, the author gives12hypotheses, and then defines the equation of variables. Finally, explaining the methods of sample selection and put forward the empirical model of this study.The forth chapter is the conclusion of empirical study. It selects the listed companies from2011to2012of domestic pharmaceutical industry in Shanghai and Shenzhen A stock markets as objects and makes a descriptive statistics about the general position of the sample’s internal control information disclosure. Next, putting variables into correlation analysis. After that, conducting Variance inflation factor test, the general situation of model, test of goodness of fit and significance testing internal control information disclosure quality and variables by utilizing the linear regression model. Finally, analyzing the results of hypothesis testing seriatim.The fifth part consists of conclusion and policy suggestions. The author concludes the study result and draws a conclusion. Combining with the characteristics of Capital market in China, The author gives relevant suggestions and measures after depending on the situation.The sixth part is about limitations and the direction of follow-up study. This chapter analyzes the inadequacies of this thesis and some views which should be improved. Therefore, giving the direction for the follow-up study.The innovations of this thesis:Research content:At present, nearly all the internal control information disclosure researches select the whole companies as a sample. The majority of researches which focus on internal control information disclosure are confined to financial industry and real estate industry. However, this thesis selects the listed companies of domestic pharmaceutical industry because this industry is a special industry which is related to human life and health. Doing research about the factors which effect on the internal control information disclosure quality in pharmaceutical industry can make a contribution to the improvement and perfection of it.Effect Factors:On the basis of preceding research, this thesis adds an explaining variable called Media attention and discuss its effect on the internal control information disclosure quality.Sample data:The selected data of listed companies in domestic pharmaceutical industry from2011to2012is more recent so it can reflect the present situation of internal control information disclosure quality more precise. Therefore, the conclusion is more forceful.
Keywords/Search Tags:Pharmaceutical Manufacturing Industry, Internal Control, Information Disclosure, Influencing Factors
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