On The Influential Factors Of Internal Control Disclosure Quality For Domestic Listed Company

In recent years, there are so many financial fraud cases came out from famous enterprises, which had a negative effect on the reputation of security market and the efficiency of capital market. People have come to realize the importance of internal control and the disclosure of internal control information to listed companies and the capital market. The quality of the internal control information, which is disclosed by the listed companies, is the representative of the level of internal control, as well as an important reference of the regulators, investors and creditor. In this dissertation, we chose the internal control information as our study object, and studied the factors that influence information disclosure using empirical methods. We quantified the influence characteristic and significance of these factors by modeling, and try to attract investors’ attention of the importance of internal control information disclosure, as well as giving some advises to the regulators in building a perfect and efficient internal control information disclosure system. This paper bears both theoretical and realistic meanings.In this dissertation, we came up with our studying framework by analyzing the studies in this area in three aspects:"the status quo of information disclosure","the influential factors of the disclosure quality" and "the measurement method of disclosure quality". We built our model based on these studies; calculated the internal control information disclosure index using the annual reports of the listed companies on Shanghai Security Exchange; quantified the influential factors based on the capital market. Then we analysis the model empirically from three aspects:"corporate governance","features of intermediaries","financial and operating characteristics of company".We got a sample containing205companies listed on the Shanghai Security Exchange by stratified random sampling, through descriptive analysis using quantitative content analysis method, relevant analysis, and hierarchical regression analysis in SPSS15.0, we tested the model. Our results state that factors, including auditing opinions, special treatment, operating risks, company size, listing time and industry located, evidently influence the internal control information disclosure level of public listed companies.