Study On Affiliated Transaction And Legislation Of Growth Enterprise Market Of China

After ten years of preparation, growth enterprise market was operated in China in 2009 and opened a smooth channel for market financing for fast-developing enterprises. But growth enterprise market is a capital market with high risks; its healthy development is inseparable from the guarantee of legal supervision systems. And legislation for affiliated transactions in growth enterprise market is an important part of the system.Affiliated transaction is a new trade form, with the development of the market economy and the company system. Compared with the general trade form, its particularity lies in the control or significant interest relationship between the parties. It is a "double-edged sword". It can not only reduce transaction costs but also improve operational efficiency, which is conducive to develop scale economy. But it also creates conditions for associated persons who are in control status to abuse it in order to realize their own benefit maximization and break company, medium and small shareholders and creditors' interests. Therefore, we should carry on the legal regulation at the same time of encouraging affiliated transaction.The rules and regulations on affiliated transaction in our country scatter in Company Law, Accounting Law and some department regulations and self-discipline norms. Compared with other countries'legislations, the legislations of affiliated transaction in China still have many defects, which can't meet the regulating needs on the growth enterprise market affiliated transaction. It still needs to be further perfected.The main body of this paper contains five parts. The first part is the introduction. It briefly introduces the background and significance of the research, the current status both at home and abroad, main research contents and methods. The second part is an overview of the affiliated transaction in growth enterprise market. It briefly introduces the concept, characteristics of growth enterprise market and the general theories on regulations of affiliated transaction. And it discusses the concept of affiliated transaction. The third part is the activities and their institutional defects of affiliated transaction in growth enterprise market. It expounds the activities and their institutional defects, introduces the present situation of the legal systems, and analyzes the defects of the system of affiliated transaction in growth enterprise market. The fourth part is a review on foreign affiliated transaction legislation. This part introduces the design of affiliated transaction system in the United States and Germany in order to provide the reference to improve the legislation in our country. The fifth part is the legislative design on improving related transaction system of growth enterprise market in China. The author puts forward the relevant legislative suggestions on legislation idea, activity system, responsibility system, affiliated system of affiliated transaction in growth enterprise market, and so on.