Page 118 - 臺大管理論叢第33卷第1期

Corporate Governance, Internal Control and Logistics Enterprise Performance: Based on the Empirical Study
of Listed Logistics Enterprises in China

The limitations of this paper are as follows: (1) Due to data availability, the sample
size is not big enough to draw general implications. (2) We are also not sure if the
empirical results from logistic companies in China apply to those enterprises located in
different countries (regions). Further comparative studies will provide us with a better

understanding of such questions. (3) The empirical analyses in this study are limited to the
logistic industry, and one natural extension of this paper is to study other industries.

5. Originality/Contribution

The entry barriers into the logistics industry in China is relatively low. Lowering
costs is still the dominating business strategy in this industry. Most logistics enterprises
usually take the traditional cost-savings approaches to improve financial performance.

The visible costs of warehousing, distribution and transportation are the primary
targets for cost reduction. In contrast, some invisible costs, such as costs caused by the
imperfect accounting system or excessive resource consumption by top management
without supervision, are still being ignored. This paper explores the impact of corporate

governance quality and internal control effectiveness on the logistics enterprises’
performance, which leads to a new direction for improving the financial performance of
these companies.
Secondly, the effects of corporate governance and internal control on company

performance are usually studied separately in past literature, and the interactions between
corporate governance and internal control are seldom explored. This paper combines
corporate governance, internal control, and corporate performance into one framework.

110