The Intermediary Effect Research Of Internal Control On The Relationship Between Ownership Structure And Corporate Financial Performance

Using Shanghai and Shenzhen A-share listed companies from year 2012 to 2014 as the research object,this paper discusses on the role of internal control in the process of ownership structure affects enterprise financial performance,and at the same time uses statistical software SPSS19.0 to carry out empirical analysis.Taking internal control as the core,this paper uses ownership concentration and equity balance degree and nature of equity to measure ownership structure of listed companies,meanwhile utilizes qualitative analysis to select financial indicators to build corporate financial performance evaluation system and rates corporate financial performance comprehensively by factor analysis to measure financial performance,examines the mediating effect of internal control on corporate ownership structure and financial performance.The results of empirical analysis suggests:(1)Ownership concentration has a significant positive correlation with corporate financial performance,which means,the higher the ownership concentration is,the better corporate financial performance will be;equity balance degree also has a significant positive correlation with financial performance,which means,the stronger the business ownership balancing is,the better financial performance will be;the nature of the equity is negatively correlated with financial performance,which means the financial performance of state-owned enterprises is poor.(2)Ownership concentration,equity balance degree and nature of equity have significant positive correlation with internal control,which means,higher ownership concentration and equity balance degree play a positive role on internal control;when ownership type is state-owned,the level of corporate internal control is higher.(3)Internal control exerts partial mediating effect on the relation between ownership concentration and corporate financial performance,and also has partial mediating effect in the process of that equity balance degree affects financial performance,but for the ownership type,the mediating effect is not obviously.Finally,this paper summarizes the results of empirical analysis and put forward relevant recommendations.