Study On The Influence Of Internal Control Quality To Investment Efficiency Under Different Property Rights

At present, with the development of manufacturing industry in the market economy, the impact of the gradual increase in the industry, the industry’s investment efficiency has given a high degree of concern. Investment decision is to realize the enterprise growth in the value of the fundamental. However, studies have found that in both non efficiency investment phenomenon,our country enterprise currently widespread excessive investment and insufficient investment, which greatly hindered the development of enterprises. In the further research, the problem of information asymmetry and agency problem are closely related to the efficiency of investment. Therefore, how to solve the problem of information asymmetry and agency cost, and find ways to improve the efficiency of enterprise investment are practical problems that need to be solved urgently in China.In recent years, our country constantly improve internal control relevant rules and norms, with the hopes that internal control can solve all kinds of management issues in the enterprises from the overall level, so as to achieve the business objectives, to promote enterprise development strategy. Then, whether the internal control can guide the enterprise to optimize its investment behavior, so as to improve the investment efficiency of manufacturing enterprises is the focus of this paper.Firstly, the paper analyzes the causes of the investment efficiency and the internal control mechanism. Secondly, according to the different nature of property rights, the research object is divided into state-owned and non state-owned listing Corporation, to explore the nature of different property rights, the impact of internal control quality on the efficiency of investment. It is found that the effective internal control system can effectively avoid the occurrence of inefficient investment behavior, so as to improve the efficiency of investment. Further, by comparing the two types of listing Corporation’s internal control quality on the investment efficiency of the difference, found that the internal control quality of non state-owned listing Corporation on the investment efficiency is more significant.At last, this paper is based on the study conclusion,and propose relevant suggestions for improvement from internal control angle, in order to further improve the enterprise internal control system, so as to achieve the internal control system to guide enterprises to carry out efficient investment decisions and management of the ultimate goal.