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论文类型：会议论文

发表时间：2016-01-01

收录刊物：CPCI-S、CPCI-SSH

页面范围：1068-1074

关键字：Business performance; Family business; Internal control; Mediating effect; Ownership structure

摘要：Using 191 family businesses of SME hoard in 2011-2013 as a sample, the paper explores the mediating effect of internal control between ownership structure and business performance by building the mediating inspection model of internal control with reference to mediating effect testing method proposed by Baron. The results show that family shareholding and business performance shows negative correlation, and the top ten shareholding, S index and business performance shows positive correlation. When substituting the internal control variables into the model as an mediator, we find that internal control plays a conduction effect completely between the family shareholding of family business, ownership concentration and business performance, and partially mediating effect between equity balance and business performance. According to the empirical results of this study, the family ownership structure of listed family companies should be optimized to improve the level of internal control, thereby improving business performance.