The Old And New Accounting Standards For Listed Company The Affiliated Party Transactions Motive Of Empirical Analysis

The starting point of this paper is connected with the issue of the new accounting standards in2006. Compared with the old accounting standards, the definition and disclosure of related party transaction in the new one have made lots of new completion and supplement. The study and research of related party transaction has always been a hot subject for the accounting community both domestic and overseas. After going through all kinds of research papers, most of them are focused on study of the issue of calculation, disclosure or supervision of related party transaction. And these papers are more like to discuss the completion and supplement for the accounting standards, very a little of them are specialized in the deep driven force of the related party transaction. Since the implementation of the new accounting standards in2007, has the driven force for related party transaction changed? Did the new accounting standards have effective impact on the restraint of the related party transaction? So this paper centered with these above issues made a general analysis.First I will make a trim of fundamental theories about related party and their transactions, and also make comparison between the old one and the new ones. Our conclusion is that the new one is more objective and complete than the old one. Next, I explain why choose the manufacturing field and make descriptive words about the current related party transaction in the publicly listed companies of manufacturing field. Then I will make Empirical Analysis of these data I collect. First, I will make a statistic description for all the variables. And before the multi-variable regression, I will test the multicollinearity of the explainary variables and the correlation analysis for both the independent variables and explainary variables. And I divide the total sample into three kinds according to the accounting periods:2004-2010the total sample,2004-2006the old period sample,2007-2010the new period sample. And our empirical conclusions are as following:in general the new accounting standards have some impact on the restrain of related party transaction but not in a effective way. The counterbalance and corporate governance do not have very much effective impact on related party transaction. And the publicly listed companies driven by the economic factors will tend to deal with related party transaction. The drive to avoid tax is not so much significant. And state-owned enterprises in manufacturing industry are more like to use related party transactions. At last I make the general conclusion and point the limits of this paper as well as the future study direction.