Small And Medium-sized Boards Of Listed Companies In Our Country Internal Control Information Disclosed The Question Research

As an important part of China’s Shenzhen Stock Exchange, the small plates which officially launched in June2004has developed very rapidly, in terms of attracting high-quality resources and funds the small plates has also shown strong competitive ability. Small and medium enterprises have high growth potential and broad market prospect, meanwhile they present some questions in the internal control aspect. By analyzing the characteristics of SME and the factors that influenced the internal control information disclosure, to perfect China’s information disclosure of internal control, then enhancing the competitiveness of Chinese small listed companies. Because these influencing factors could affect the perfect degree of the listed company’s internal control, the quality of internal control information as well as the efficiency of our capital market and the transparency of information disclosure. And these factors also have important meanings to the healthy, ordered, and standard development of the capital market. All the above reasons enable this research to have the strong practice significance.This paper uses standardized research combined with empirical research. This article is divided into six parts as follows:(1) Introduction, this part discusses the cases of financial problems which due mainly from the lack of internal controls. Then give the research background and significance of information disclosure of SMEs’ internal control. literature summary, this part focuses on the results of researches at home and abroad, summarized the existing theoretical frameworks, models, data and methods, so to find the research angle.(2) Theoretical analysis of internal control information disclosure. Firstly, define the three concepts of internal control, internal control information disclosure and internal control self-assessment, and then elaborate and analyze the three theories of the principal-agent theory, the signal transmission theory, and the public products’ attribution theory.(3) Statistics the information disclosure of internal control conducted on the end of2008by the294SME board listed companies descriptively, gets to know the current situation of the information disclosure of the small board listed companies based on the evaluation basis from the report of internal control self-assessment, internal control self-assessment and other aspects of the content of the report. Finally points out the problems.(4) Based on the combination of three theoretical frameworks of principal-agent, the signal transmission, the public product attribution propose seven assumptions on three levels of corporation governance, internal operations, external oversight. Choose the listed companies of the small board in2009and the Main Board listed companies as research subjects, select stratified samples of61and38sample data, then statistic descriptively these sample data, analyze their correlation and use multiple linear regression analysis to verify the hypothesis mentioned earlier, compare the two market data at the same time.(5) Draws the research conclusion, and compares the platelet market and the motherboard market in the aspect of internal control information disclosure and the different influencing factors of these two markets, then give suggestions on further standard and perfect the internal control information disclosure to the Supervisory department. Finally point out the limitation of this research and the following research direction.Through this study get the following conclusions:(1) Small and medium-sized enterprise board and Main board level of disclosure of internal control information common factor is the reputation of accounting firms, the proportion of the largest shareholder. The difference is small Market profitability is also affected by the impact of the motherboard market is also affected by company size, number of professional committees.(2)Internal control scores of small and medium-sized enterprise board is higher than the average level of the main board. Shows the Shenzhen Stock Exchange listed company on the SME board in the internal control of information disclosure of listed companies than main board more standardized, rigorous, Shenzhen Stock Exchange are specifically for small and medium plate market,"SME board guidelines for internal audit of listed companies."(3) From the sample data of small board listed companies and main board listed companies which employed the top ten accounting firms accounted for47.54%and42.11%, we can see that most of the listed companies hired domestic accounting firms.