Empirical Study On Voluntary Information Disclosure Of Internal Control For Listed Company Being On The Stage Of IPOs

Rent years have witnessed a good deal of shocking financial fraud cases, which results in investers'greater vigilance when selecting information and urges investors not only to attach their importance to the company's financial position and results of operations,but also to pay close attention to the level of information disclosure of internal control. On the onther hand, the corporation feel obliged to establish sound internal control system based on the concept that the quality of the internal control information disclosure not only reflects themselves'level of internal control sysytem but also further affects the judgment and decision of investors, debtors and supervisors. This paper choose internal control system of listed companies,which are on the stage of IPOs, as the object of study and and empirically conducted this research by constructing model mechanism with the selected explained variables.With thorough analysis, this dissertation willl be much helpful in urging listed companies create sound internal control system to futher enhance the level of information disclosure of internal control and enacting relevant rules and laws for market supervisors.At the beginning, this thesis describes related theories including principal-agent theory, asymmetric information theory and signal-transferring theory; Then it reviews the variation of information disclosure rules in foreign countries and our country. After that, the influencing factors concerning internal control and quantitative methods for determining the level of information disclosure of internal control are analyzed, and the analyzed target come from the contents of the part of "self-assessment for management" in the prospectus exclusively for the listed companies being on the stage of IPOs. In the next chapters, it presents three explanatory variables by accepting the idea of dividing the influencing factors into three parts in previous literature and constructs models as well as makes an empirical test. The paper mainly draws 162 sampling datas mainly with the method of stratified random sampling and then empirically verifies the established models and reaches conlusion ultimately by conducting frequency analysis, descriptive statistics analysis, correlative analysis, coariance analysis and hierarchical regression analysis with SPSS11.5.