Research On The Relationship Between The Internal Control And The Enterprise Value Of Nonferrous Metal Industry Listed Companies In China

The ultimate goal of enterprise production and operation is to maximize the enterprise value, which reflects the comprehensive strength of an enterprise. Internal control presented by Americans firstly, is an important content of enterprise management. So, the goal of internal control is consistent with the goal of enterprise. Building and perfecting for enterprise internal control help enterprises to carry out the internal management improve enterprise competitiveness, reduce the risk of the enterprise, constraint corporate behavior, guarantee the normal operation of enterprises and finally realize the enterprise value maximization goal.In theory, there is a close relationship between internal control and enterprise value, which means that improving enterprise value is also the goal of enterprise construction and perfect the internal control. Nonferrous metal is a key material foundation of supporting industrial development, and nonferrous metal industry listed companies play an important role in sustained economic growth. In practice, what’s the situation of internal control of nonferrous metal industry listed companies and how does the internal control affect the enterprise value for those nonferrous metal industry listed companies? The research of this paper is to focus on these issues.This paper consists of six chapters. The first chapter is the introduction, which introduced the background, objective and significance of this paper, summarized the domestic and foreign literature,and put forward the research contents, methods and innovations of this paper. The second chapter introduces the theory of internal control and enterprise value, analyzes the influence of internal control on enterprise value. The third chapter is focused on the present situation of internal control evaluation for nonferrous metal industry listed companies and mainly introduces the definition of nonferrous metal and the characteristics of the nonferrous metal industry, the present situation of internal control evaluation of nonferrous metal industry listed companies. The fourth chapter illustrates the explanatory variables, variable being explained and control variables, puts forward hypothesis and builds the model. The fifth chapter is the empirical research of the relationship between internal control and enterprise value, which selected the data of nonferrous metal industry listed companies during2011 and 2013, and carried on sample descriptive statistics, correlation analysis and regression analysis. The sixth chapter draws the conclusions and put forward policy suggestions according to the research of the above. Finally, described the shortcomings of this paper.