Internal Control?the Quality Of Accounting Information And The Inefficient Investment Of Enterprise

Effective investment can configurate social resources reasonably,it is the important driving force of our country's healthy economic growth.Effective investment also is the key for the enterprise to occupy market,expand the scale,and enhance market competitiveness,it is the source of power for the enterprise to increase wealth.In reality,however,the inefficiency of investment of listed companies affected the enterprise's value and the healthy development of capital market seriously.How to restrain the inefficiency of investment and improve investment efficiency has become a realistic problem urgently to be solved in economic development,and it is also a focus of academic attention and problem.In addition,since the "sarbanes-oxley” act was implemented,countries all over the world gradually pay attention to the the internal control of enterprise.Our country also enacted China "sarbanes-oxley"--"the enterprise internal control basic norms" and the enterprise internal control supporting guidance,enterprises' internal control has become a hot topic of scholars at home and abroad.This paper links the two hot issues--the internal control and corporate investment behavior to discuss the following three problems :what are the factors that affect the inefficiency of investment ? The internal control can govern these factors or not? The accounting information quality is one of the research on the economic consequences of the internal control category,What is the role of accounting information plays in the process of internal control affects the inefficient investment ?This article adopts the method of empirical,constructs three models,and research on the relationship between the internal control and the inefficiency of investment,and the relationship between the quality of accounting information and internal control,and the role of accounting information plays in the process of internal control affects the inefficiency of investment.Specifically,first of all,based on the model of DEA andRichardson,the paper distinguish and measure for the degree of the inefficiency investment of the companies.Secondly,the article measures the quality of accounting information of enterprises comprehensively,builds the accounting information quality index to measure its relationship with the internal control;Finally,This article draws lessons from related research on intermediary effect to measure the role of accounting information plays in the process of internal control affects the inefficient investment.By analyzing the regression results of three models,this paper found that: The higher the quality of internal control,the effect of the reduction of inefficient investment is more obvious;The higher the quality of internal control,the accounting information quality is higher;The quality of the accounting information is the medium channels that internal control affects the inefficient investment.This article research conclusions for our country enterprise provides useful references on the construction of internal control,effective use of intermediary role of accounting information and the improvement of the service efficiency of funds.