On The Economic Consequences Of The Internal Control Information Disclosure In Listed Corporation

American as the representative of the capitalist countries began to maintain a high degree of attention to internal control after series of fraud. After the development in the research on the internal control of the number of years, USA promulgated the "Sarbanes Oxley act", officially entered the stage of compulsory disclosure. Because of its special national conditions, the degree of opening of capital market in China has not reached the level consistent with foreign countries. In the early period of dominant in planned economy,the concept of internal control is rarely mentioned. But after several years, the economy of China experienced a period of rapid development. In addition to the subsequent emergence of fraud cases, gradually entered the people’s view and has been highly concerned about it.Although our country in this aspect research started relatively late, but the development speed is very breathtaking. The research on the internal control of the speed of development accelerate quickly, research results are also significantly increased. China has gradually catches up with the pace of the western countries. Since the world set off a wave of internal control to strengthen legislation and supervision, Chinese issued a series of regulations and laws on the basis of research achievements of the western countries on the existing according to its own national conditions but also increased the research of economic consequences of internal control.The disclosures of internal control information gradually become the focus of the field of internal control. Research on the economic consequences of internal control information disclosure refers to the study of the different information users and the different roles of staff of market reaction after information disclosure. Further research is helpful to affect the information disclosure of internal control of stakeholder cognition. Although our country enters the stage of compulsory information disclosure of internal control is not a long time,but the study is full of practical significance. In the development of internal control in the western countries to follow the law of development of the mandatory information disclosure is in line with China’s national conditions, it is also own practical significance.Since the implementation of mandatory disclosure, whether the effective implementation of the company, is in accordance with the provisions of the disclosure of relevant information,the disclosure of information with or not, after the implementation of mandatory disclosure of information, with the market reflects the economic consequences and what kind of, is the research direction can be selected in the study. By comparing the detailed data, we can study the role and significance of the implementation of the internal control information disclosure mandatory. Since we entered the mandatory information disclosure of internal control, research in this area has not yet become a research hotspot. Through the existingliterature, the current domestic scholars to conduct the research on the internal control information disclosure is the main focus is still concentrated in the voluntary internal control information disclosure stage, rarely mentioned the mandatory information disclosure of research. The research on information disclosure of internal control and earnings quality., focused on the study of mandatory disclosure of internal control information disclosure and whether it has the necessity and feasibility, and what factors can influence the internal control information disclosure. This article is precisely embarks from this does not been concern, China’s access to the information disclosure of the internal control based on the policy background of mandatory disclosure, research on the economic consequences.In this paper, we choose the Shanghai A shares of listed corporate as the research sample, using the method of combining normative research and empirical research, and then makes an empirical research about the relationship of internal control information disclosure and earnings quality. In order to carry on the concrete analysis to the relationship between the mandatory disclosure and earnings quality, and considering the factors of accounting choice of earnings management and real earnings management. Finally the future research direction for internal control and puts forward some suggestions and corresponding analysis. This paper first discusses the research background and research significance, summarizes the research results of scholars at home and abroad, introduces the basic theories. Under the support of theory, this paper puts forward the research hypothesis, and in 2012 as a demarcation point, from 2010 to 2013 as the sample of empirical research on the corresponding. In the empirical study, considering the change of earnings quality, the main business income ratio, the company size, asset liability ratio, the proportion of the first shareholder and other various factors, establishes a research model.The results showed that:(1) The mandatory implementation of the internal control information disclosure, the company’s earnings quality improve, reduce the degree of earnings management.(2) The mandatory implementation of the internal control information disclosure, should count the earnings management to increase the company’s,lower real earnings management.