内部控制与企业价值相关性研究——基于沪深上市公司

以沪深A股食品饮料行业97家上市公司2013年数据为样本，通过主成分分析法得出影响食品饮料行业内部控制的主成分因子，并将其与企业价值衡量指标每股收益进行相关性分析和多元回归分析。研究得出企业价值与内部控制，与公司规模，与股权集中度呈正相关，与资本结构呈负相关。提出建立完善的食品饮料行业内部控制评价体系；通过兼并或战略联盟扩大企业规模，提高股权集中度；将资产负债率控制在适当水平三点建议，来加强食品饮料行业的内部控制，提高企业价值。

Internal Control and Enterprise Value Correlation Research---Based on the Listed Companies in Shanghai and Shenzhen

This paper took data from 97 listed companies in food and beverage industry in A-shares as samples and concluded the principal component analysis （PCA） principal component factors that affecting the internal control of the food and beverage industry, combining which with the enterprise value measure earnings per share for the correlation analysis and multiple regression analysis. Then the study reached to the conclusion that the enterprise value correlates internal control, the company size, and ownership concentration positively and negatively with the capital structure. The author puts forward to three suggestions to strengthen the internal control of food and beverage industry, improve the enterprise value： establish the perfect internal control evaluation system for food and beverage industry; expand enterprise scale through merger or strategic alliance for improving the equity concentration; control the asset-liability ratio appropriate level.