The Impact Of Internal Control Quality On Financing Constraints Of Enterprises

The internal and external capital markets can change completely,but the internal information and external data of companies are asymmetric and the agency costs of companies,the costs of external funds and the costs of funds for more than that.Even if enterprises have good investment opportunities,because the external capital can not meet the needs of enterprises,the investment decisions of enterprises are financed externally.Financial constraints arise when capital factors are restrained.At present,on the one hand,China's capital market is imperfect,unable to provide enterprises with a variety of financing channels and fair and just financing conditions,enterprises are difficult to obtain external financing.On the other hand,due to weak supervision and low punishment,it is impossible to fundamentally solve the problem of information asymmetry and agency cost,and then to alleviate the financing constraints faced by enterprises.Finance and pharmacy is an important problem that limited the development of the company,which will not lose the power of economic development of the company.The internal management in Japan is very important in a series of years 2006 law.China announced the controls within the action of construction companies in 2010 we declare enhance management inside of the quality manual in China.At present,it is generally believed that high-quality internal control can improve the operating efficiency of enterprises and the level of corporate governance.With the in-depth study of enterprise internal control,more and more researchers have found that the quality of enterprise internal control can reduce the degree of information asymmetry and agency costs.Also,the importance of this document can be reduced to improve the quality of an economic pharmaceutical company.This article is the case study companies in shanghai and shenzhen.combines with the study of the property rights nature of enterprises,starts with the causes of financing constraints,establishes a Cash-Cash flow regression model,and deeply studies the impact of internal control quality on financing constraints and its impact mechanism.Experience has shown that the quality of internal control can effectively reduce capital constraints.It is more efficient and manageable.Internal control It is not a question of limiting the quality and size of asymmetric information,and the cost of the service has been found to be uneven.Finally,it is found that the impact of internal control quality on financing constraints is different for enterprises with different property rights.Compared to this chapter document on internal control links.the results of its conclusion on the proposals.