Research on the Impact of Internal Control on Investor Protection in Listed Companies - Based on the Perspective of Large Shareholder Governance

The protection of the interests of medium and small investors has attracted more and more attention of scholars, in the development of China's equity market, the conflict of interest between large and small shareholders is becoming more and more serious, and the problem of protection on minority shareholders' interests needs to be solved urgently. This paper uses China's Shanghai and Shenzhen stock A Listed Companies from 2014-2016 to analyze the relationship between corporate internal structure and investor protection, and also analyze the impact of large shareholder governance on the relationship between internal control and investment protection. The study found that: (1) under the condition of other conditions unchanged, the internal control level of Listed Companies in China is positively related to the protection of investors' interests; (2) under the condition that other conditions remain unchanged, China's Listed Companies will strengthen the governance of large shareholders, and will inhibit the promotion of internal control level to investor protection.