Research On The Effect Of The Effectiveness Of Internal Control On The Performance Of A-share Manufacturing Enterprises

In 2018,China's GDP is the lowest ever growth rate,with a year-on-year growth rate of only 6.5%.As the pillar of China's economic development,manufacturing industry,with a profit of 5696.4 billion yuan,increased by 8.7% year-on-year,is an important support for China's economic growth.Manufacturing industry plays an extremely important role in the development of economic market,providing a large number of jobs to relieve the pressure of employment,etc.However,the reduction of population dividend has a significant impact on the development of China's manufacturing industry,which is still facing severe external challenges.In May 2015,the State Council issued the strategic document "made in China 2025" to promote the implementation of manufacturing power in an all-round way,to promote the transformation of China's manufacturing industry into China's precision manufacturing.Under the circumstances that China's manufacturing industry is facing transformation and rapid development of market economy,the manufacturing industry with fierce competition is facing great challenges.The internal control system of an enterprise determines the internal environment,financial management,information communication,production process management and control of an enterprise,which has a huge impact on improving the core competitiveness of an enterprise.In the modern corporate structure,as an important part of corporate governance,equity structure is the focus of scholars.Therefore,in the study of the effectiveness of internal control of manufacturing industry for enterprises On the basis of performance impact,from the perspective of equity,studying the impact of equity structure on the relationship between the effectiveness of internal control and corporate performance can give manufacturing companies a good guidance in improving internal control,equity structure and corporate performance.This paper summarizes the research results of scholars in the academic circle,explains the mechanism of equity structure,internal control effectiveness and enterprise performance by combining the principal-agent theory,information transmission theory and information asymmetry theory,and establishes relevant research models by adjusting variable test method,and uses AHP to strengthen the research persuasion.In terms of data selection,based on the release of "made in China 2025" in 2015,in the context of the development from "made in China" to "refined manufacturing in China",this paper selects the data of Listed Companies in Shanghai and Shenzhen A-share manufacturing industry in 2015-2018 as the research sample.After processing and analyzing the data of A-share manufacturing listed companies,this paper draws the following conclusions: in China's A-share manufacturing listed companies,(1)the effectiveness of internal control plays an important role in improving business performance;(2)the degree of equity concentration is positively related to business performance,and the degree of equity balance is negatively related to business performance;(3)the degree of equity concentration and the degree of equity balance have no regulating effect on the relationship between the effectiveness of internal control and enterprise performance;(4)asset liability ratio is negatively correlated with enterprise performance;(5)enterprise scale is positively correlated with enterprise performance.Finally,according to the empirical results and related theories,this paper puts forward some suggestions for A-share manufacturing enterprises.