Research On Equity Structure,Internal Control Quality And Corporate Performance

Based on the promulgation of the enterprise internal control standard system as the research background,in view of the information technology industry,research the correlation between equity structure,internal control quality and corporate performance in this industry,and analyze the impact of equity structure on corporate performance by the mediation effect of internal control quality.Firstly,this paper summarizes relevant literatures at home and abroad,and analyzes and researches related theories.On this basis,this paper puts forward the research hypothesis of this paper.After that,the listed companies of a-share listed in the information technology industry from 2012 to 2016 are selected as the research samples of this paper.The ownership concentration and equity balance degree as substitution variables of equity structure,using di Po internal control composite index to measure quality of internal control,select roe on behalf of the enterprise performance,build a relevant model,through the empirical study on checking the quality of internal control in the intermediary effect of ownership structure impact on enterprise performance,to explore between the conduction path.The empirical results are as follows:(1)there is a significant positive correlation between ownership concentration and corporate performance,that is,the improvement of enterprise ownership concentration can bring about the improvement of enterprise performance;There is a significant positive correlation between the balance of ownership and corporate performance,namely,the better the equity balance effect,the higher the enterprise performance.(2)the ownership concentration is significantly positively correlated with the internal control quality,and the increase of ownership concentration is conducive to improving the internal control quality of enterprises.There is a significant positive correlation between the balance of ownership and the internal control quality,and the internal control quality is improved with the increase of the balance of ownership.(3)partial intermediary effect of internal control quality in the influence of ownership concentration on enterprise performance;The internal control quality has some mediating effect on the influence of ownership balance on enterprise performance.On this basis,the robustness test is carried out,and the reliability of the research results is strengthened.Finally,the result of the research on integration,on the basis of effective Suggestions in view of the information technology industry:information technology industry listed company shall adopt the equity distribution and large shareholders can be checks and balances between the equity structure mode,optimize the structure of corporate ownership,perfect the enterprise internal control system construction,improving the quality of enterprise internal control,and improve enterprise performance level;Moreover,it is noted that the improvement of equity structure has a positive effect on the improvement of internal control quality of enterprises and the mediating and transmitting effect on the quality of internal control,so as to improve the performance of enterprises with half the effort.