Research On Efficiency Of Financial Internal Control In State-owned Enterprises

Core of corporate governance is financial governance, fundamental goal of financial governance is the pursuit of corporate financial governance efficiency. This means that in order to truly mature financial governance theory, in-depth study on efficiency is inseparable.In order to solve the problem of financial governance fundamentally, the efficiency of research should occupy the first place. State-owned enterprises as the main body of mixed ownership reform, should attach great importance to financial governance efficiency.Research on financial internal governance efficiency in state-owned enterprises is the use of multiple regression model to find factors affecting the financial governance and financial benefits and costs between internal governance efficiency. Respectively, use financial governance cost index for the input value, the financial income internal governance indicators for the output value of state-owned enterprises on how to improve finance internal governance efficiency. By introducing the background and status of domestic and international research, based on agency theory, corporate governance theory, property rights theory and the theory of efficiency, analysis of state-owned enterprise financial governance structure, mechanisms and modes, detailed the financing structure, ownership concentration, the independence of the board of directors, board of supervisors and supervision, hiring executives and institutional incentives, the six factors provide a basis for selecting empirical model metrics.Through theoretical and empirical research method of combining, six factors were constructed with the internal governance of financial income, finance costs of internal governance multivariate regression model.Selecting 124 state-owned listed companies as the sample companies, use the relevant data for descriptive statistics regression analysis. Select super efficiency DEA model to evaluate the internal governance of state-owned listed company's financial benefits. According to empirical test results, measures are proposed for the state-owned enterprises to enhance the financial efficiency of the internal control. The study found the state-owned enterprise financial internal governance efficiency is not high due to irrational allocation of financial internal governance costs, financial internal governance earnings affected by various factors. Therefore, the ownership structure should be optimized to reduce the concentration of ownership, reasonable equity incentive managers, the scientific use of financial leverage to ensure that the internal governance of financial costs at a certain level, the internal governance to maximize the financial return, financial internal governance efficiency could be optimized.