The Influence Of Management Power On The Quality Of Internal Control Information Disclosure Of Listed Companies In China

Information disclosure will have an important impact on the development of the capital market.High-quality information disclosure can effectively promote the sustainable development of the capital market and help investors in the capital market make correct investment decisions.In addition,the optimal allocation of resources in the capital market can be achieved.The quality of information disclosure mainly includes the following two categories:the quality of financial information disclosure and the quality of non-financial information disclosure.Internal control information is a particularly important component in non-financial information.The quality of internal control information is closely related to the legitimate rights and interests of investors.In recent years,the China Securities Regulatory Commission and other organizations have issued relevant guidelines to regulate the disclosure of internal control information.The Ministry of Finance promulgated the "Guidelines for Enterprise Internal Control Support" in 2010,which has clear mandatory and guidance for the disclosure of internal control information.In addition,enterprises should continually improve their internal governance structure to improve the quality of internal control information disclosure.In the research of this topic,this thesis collects relevant literature on the quality of internal control information disclosure,and finds that most scholars choose the ownership structure and other aspects to analyze the quality of internal control information disclosure of enterprises,but ignore the influence of corporate management power on the quality of internal control information disclosure.This thesis believes that when the internal management level of the enterprise is low and the governance structure is poor,the senior management of the enterprise may manipulate the disclosure of the internal control information of the enterprise to maximize its own interests,which will lead to the decline of the quality of internal control information disclosure.The research of this thesis has theoretical and practical significance.The research in this thesis can effectively improve the relevant theories of the factors affecting the quality of information disclosure within the enterprise,and also improve and broaden the relevant theories of management power.The conclusions of this thesis can help companies achieve optimal distribution of management power.This thesis takes the quality of internal control information disclosure as the starting point,and provides reference for the distribution and management of enterprise management power.In the research of this topic,this thesis first introduces the related concepts of the quality of internal control information disclosure,and explains the concept of management power.In addition,this thesis also introduces related theories such as information asymmetry and principal-agent.The theoretical analysis of the influence,which means that specific mechanism of management power has great influence on the disclosure of company information,on disclosure was conducted.Then based on the panel data of 1,253 listed companies between 2007 and 2017,this thesis empirically studies the impact that specific mechanism of management power has great influence on the disclosure of company information.The research results show that the organizational structure power is significantly negatively correlated with the quality of internal control information disclosure,and the owner power,individual ability power and comprehensive management literacy and the quality of internal control information disclosure.Based on the above results,the author puts forward many constructive suggestions,such as constructing internal control information disclosure quality,optimizing the company's management system and overall institutional framework the equity incentive system and developing the management's personal ability.