Dissertation > Economic > Economic planning and management > Enterprise economy > Corporate Financial Management

Research of the Relationship between the Internal Control and EVA of State-owned Key Enterprise

Author PanQing
Tutor WangXiaoXia;ShiDeGang
School Dongbei University of Finance
Course Accounting
Keywords internal control EVA correlative relationship
CLC F275
Type Master's thesis
Year 2011
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With the entry to the WTO, Integrating with the world market becomes a kind of trend, has also become a kind of fashion. The Chinese market is looking for the methods and ways to integrate with the world market from all aspects continuously. When the EVA is going into most of companies, and verified in practice, and setting off an upsurge all over the world, it’s important for China to learn and adopt the EVA. Because of which, the SAC is trying out the EVA which is the method of feedback on performance and make it become to the China’s EVA. The EVA assessment in State-owned Key Enterprise is the reform of corporate governance and the establishing of value-based management system. But the relationship between the EVA and internal control which is the means of the value-based management is not concerned by most people. So the author wants to research the relationship from this point of view.In the most of research, we can get the conclusion that the internal control is positively correlated with the enterprise value. The author wants to solve the problem that whether the positive correlation can fit to the relationship between the internal control and the EVA. And because of the particularity of State-owned Key Enterprise itself and the environment, what effect will happen to the relationship?According to the correlative theory, internal control is expressed as three variables, Audit opinions, Legal compliance and Early mistakes. And then this thesis uses the empirical studying way to construct an empirical test model. The author uses the statistics method including description statistics and regression analysis to collect and research the data. At the last, we get the conclusion that, the relationship between the three variables and EVA is significant in every year, but the negative factors are still existed. The results reflect that the positive correlation is existent absolutely, but the effects are not visible. The internal control which is a stimulant to EVA growth is not functioning properly. So, the author makes some suggestions from this point.This thesis is composed of five parts:The first part includes the research background, purpose, significance and the present condition, it also includes the main contribution and the structure of the article. So, in this part, the environment of theory and practice, and the main concerns in design of the thesis are introduced.The second part is the theoretical analysis. Applying the correlative theory, this part introduces the internal control and EVA, including the definition, the theoretical sources and the relationship between the internal control and the EVA. This part is laying the groundwork for the next parts and building a foundation of theory.The third part is the one of researching and designing. This part puts forward the theoretic assumptions on the basis of upper two parts. And then the author collects and collates the data and constructs an empirical test model, which prepares for the fourth part.The fourth part is the one of the empirical analysis. In this part, the author uses SPSS software to analyze the data collected and gets the empirical result. In the State-owned Key Enterprises, the internal control is positively correlative with the EVA, but the problems are existed in the relationship. Some of the results affirm the hypotheses and the others defeat the hypotheses. On the basis of which, this thesis find out some problems.The fifth part is the one of suggestion and limitation. Because of the affirming and the defeating the assumptions, we discover some contradictions, which were influenced by some factors. In this part, we put forward some suggestions for the problems.

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