Abstract
In order to examine the influence degree of the enterprise control configuration of the internal control construction, this paper takes 2013-2018 a-share companies of Shanghai and Shenzhen two city as the research sample, using the methods of regression analysis method, from the three shareholders, the board of directors and managers control configuration level, to study the influence degree of the effectiveness of internal control, then to test system with regional marketization environment on the influence of the adjustment. The results show that the most effective allocation mode of internal control is as follows: at the shareholder level, the allocation mode is characterized by high equity balance and state-owned shares; at the level of the board of directors, it is manifested as the holding level of the high board of directors. At the level of managers, it shows the level of high managers’ shareholding. This study has a good reference to improve the governance of listed companies.
Highlights
Since 2008, China has issued the "Basic Standards for Internal Control of Enterprises" and "Supporting Guidelines for Internal Control of Enterprises" to prevent the lack of internal control, and the effectiveness of internal control has become a hot topic for scholars to study
The allocation of enterprise control power has a certain influence on the effectiveness of internal control
We hope to find out the control right allocation mode that can guarantee the effectiveness of internal control of enterprises
Summary
Since 2008, China has issued the "Basic Standards for Internal Control of Enterprises" and "Supporting Guidelines for Internal Control of Enterprises" to prevent the lack of internal control, and the effectiveness of internal control has become a hot topic for scholars to study. The allocation of enterprise control power has a certain influence on the effectiveness of internal control. The board of directors and the general manager are the subjects of the allocation of control rights and the subjects of internal control, there is a certain cross relationship between the two. Improving the allocation of corporate control power is more conducive to the internal control system. The external environment of an enterprise may play a moderating role in the relationship between the allocation of control rights and the effectiveness of internal control. We assume that the third party factor plays a moderating role in this influence mechanism. We hope to find out the control right allocation mode that can guarantee the effectiveness of internal control of enterprises
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