Empirical Research On Corporate Governance Characteristics And Disclosure Of Internal Control Deficiencies

Internal control is one of the important measures for enterprises to effectively defend and cope with various risks.With the introduction of the basic norms of enterprise internal control and the introduction of supporting guidelines,the internal control information disclosure of listed companies has shifted from voluntary disclosure stage to mandatory disclosure stage.Because the disclosure of internal control information by listed companies is also selective disclosure,there is no clear standard of disclosure,especially in the disclosure of internal control defects,the disclosure is not satisfactory.The disclosure of internal control defects of listed companies has been paid close attention to by theorists and practitioners,and is related to its importance.Fully disclose the internal control information,especially the defects of internal control,not only make the enterprise realize the shortage of internal control,strengthen the construction of internal control system,but also facilitate the supervision and management of the regulatory authorities.For regulatory authorities to regulate and improve internal control laws and regulations,but also a certain role in promoting.For investors,the disclosure of internal control deficiencies can prevent investors from making wrong investment decisions.Therefore,the disclosure of internal control deficiencies of listed companies is very important for protecting the interests of investors and promoting the healthy development of listed companies.In this paper,the Shenzhen SME board from 2012 to 2015,the disclosure of the internal control deficiencies of listed companies as a sample,from the three aspects of corporate governance characteristics namely ownership characteristics,management characteristics,characteristics of the board of directors to verify its effect on the internal control deficiencies disclosure.The results show that:first,the proportion of the largest shareholder is negatively related to the disclosure of internal control deficiencies,but not significant.Second,the shareholding ratio of securities investment funds is negatively related to the disclosure of internal control defects,and significant.Third,the two positions of chairman and general manager are negative related to the disclosure of internal control defects,and significant.Fourth,the proportion of independent directors is positively related to the disclosure of internal control deficiencies.Fifth,the audit committee's diligence is positively related to the disclosure of internal control deficiencies.Based on the above analysis,according to the theory of signal transmission,it is suggested that the government should strengthen supervision,and the listed companies will respond to the national policies and regulations,and increase the standardization and operability of the self-assessment of internal control.While improving corporate governance,it promotes information disclosure of internal control deficiencies,thus providing decision-making basis for information users.