Internal Control,Managerial Overconfidence And Innovation Performance

Innovation ability is the key factor for enterprises to maintain competitive advantage.Most of the research on the influencing factors of innovation performance is concentrated in the framework of the external environment of the enterprise,such as the institutional environment,the market environment,the technical atmosphere and so on.Since the beginning of this century,the enterprise internal control as the important internal governance mechanism,has been demonstrated superiority in Tokujitsu reliability of financial information,accounting conservatism and non efficiency of investment and other aspects of the suppression.The internal control is the institutional arrangement of full internal dynamic the participation of enterprises,with improved effect on enterprise ecology,research the impact on enterprise innovation activities is necessary;there has been a lot of literature research on influence of innovation investment,innovation performance on the overconfidence of this non rational factors,but the conclusion is not a management;Passover is the traditional problem of internal control research,the person in charge of management as the concrete implementation of the internal control system,its management style and management directly affects the construction of scientific and effective implementation of internal control.To sum up,it is of great practical significance to study the effect of internal control on the governance ef-fect of enterprise innovation in combination with overconfidence of management.First of all,the definition of internal control,managerial overconfidence and innovation performance concept,relevant literature at home and abroad,found that the influence on innovation performance of internal control literature,research results about the effect of Managerial Overconfidence on innovation activities have great difference,and yet there are literature combined with the influence of Managerial Overconfidence on innovation the performance of internal control research.Secondly,according to the principal-agent theory,asymmetric information theory,behavioral finance theory,organizational learning theory and group behavior decision theory,we analyze the mechanism of internal control and executive overconfidence,and put forward hypotheses.We selected 2012-2016 years in Shanghai and Shenzhen two A sample of A-share listed companies,executives,model test of internal control and enterprise innovation performance overconfidence and corporate innovation performance relationship,and managerial overconfidence influence on enterprise innovation performance and the relationship between internal control.The study found that:(1)with good internal control showed more excellent innovation performance,which is positively correlated with enterprise innovation performance of internal control;(2)executive overconfidence enterprises did not show good innovation performance,namely,managerial overconfidence and corporate innovation performance was negatively correlated;(3)internal control and executive overconfidence interaction shows that overconfidence executive influence internal control is positively related to innovation performance;finally,based on the conclusion of the study,put forward relevant suggestions on how to construct the internal control system is beneficial to the enterprise innovation performance.The comprehensive consideration of internal control,executive overconfidence and enterprise innovation performance helps to improve the construction of internal control system,and also provides a new way of thinking for improving enterprise's innovation performance.