Abstract:Based on the data of Chinese A share non financial listed companies from 2008 to 2012, this paper explores the effects of internal control deficiencies on the corporate credit constraints. It finds that based on the control of the sample self selection problem, the internal control deficiencies exacerbated the credit constraints of the enterprises; the severity of internal control deficiencies is significantly positively correlated with credit constraints suffered; the corrective measures taken by the enterprise can alleviate the credit constraints caused by the internal control deficiencies, but it doesnt fundamentally eliminate the negative impact of the internal control deficiencies on corporate credit financing; and after distinguishing the industries, the internal control deficiencies have no impact on the enterprise financial constraints of the monopoly industries, but they can significantly improve the credit constraints of the non monopoly industries.