Equity Structure, Internal Control and Corporate Financial Performance—Empirical Research Based on Listed Companies in Manufacturing

Abstract

Taking China's 2015-2017 A-share listed companies in Shanghai and Shenzhen as a research sample, using the research method of intermediary variables, empirical analysis of the mediation effect of equity structure affecting internal control and ultimately on corporate financial performance. The regression results show that internal control plays a partial mediating effect on the impact of equity concentration, equity balance and equity nature on financial performance, but the mediating effect between equity nature and corporate financial performance is weak, that is, reasonable The shareholding structure can promote the improvement of the internal control level of the enterprise, thereby improving the financial performance of the enterprise.