Research On The Effectiveness Of The Internal Supervision Mechanism Of The GEM Listing Corporation

China respectively introduced the independent director system and the audit committee system in 2001 and 2002, and that formed a new internal supervision mechanism of listed companies together with the board of supervisors system. The internal supervision mechanism has developed more than ten years, but during this period there were still financial information fraud incidents such as Wanfu biotechnology, Green-land biotechnology etc, and the desire of market regulators and investors didn’t achieve. Therefore, the effectiveness of internal supervision mechanism has caused a discussion among scholars. In particular, the GEM market set up in 2009 and continue to grow, and the GEM listing corporation attract the attention of many investors with its high growth and high yield, but the high risk also make investors worried, so compared with the main board of listing corporation, the effectiveness of internal supervision mechanism of the GEM listing corporation is worth more attention obviously. Based on this, the thesis selects the GEM listing corporation as the research object,and researches the effectiveness of the internal supervision mechanism from the perspective of accounting information disclosure quality, so as to provides a reference for perfection of the internal supervision mechanism of the GEM listing corporation, as well as a contribution to the development of the GEM market and related fields.Firstly, the thesis reviews and summarizes the relevant literature about the three kinds of system, including the board of supervisors system, the independent director system and the audit committee system, and then introduces related concepts of the internal supervision mechanism and the quality of accounting information disclosure, putting forward the theory,elaborating the influence of three kinds of systems on the quality of accounting information disclosure, putting forward hypothesis. Last, the thesis selects the GEM listing corporation of2012-2014 as the research sample, selecting representative variables from the board of supervisors system,the independent director system, the audit committee system, and analysis the influence of these variables on the quality of accounting information disclosure with ordinal logistic regression method to evaluate the effectiveness of internal supervision mechanism.Conclusion is that the scale of the board of supervisors, the proportion of the board ofsupervisors, the proportion of the independent directors, the size of the audit committee, the professionalism of the audit committee and the quality of accounting information disclosure are significantly positive correlated; The number of meetings of the board of supervisors, the number of the independent directors and the quality of accounting information disclosure are significantly negative correlated; Independent director remuneration, audit committee independence and the quality of accounting information disclosure are not relevant. The internal supervision mechanism don’t give full play to the supervisory function. Finally,according to the research conclusion,the thesis puts forward some suggestions for improving the internal supervision system of the GEM listing corporation and the quality of accounting information disclosure.