| At present, the stock markets of Shanghai and Shenzhen are the representative of the rapid development of capital market. The proportion of related party transactions of listed companies in daily trade is increasing. This is not a problem in mature markets. But in front of the realistic economy environment of China, it is a problem for the relevant laws and regulations, the internal control system are not perfect and related interest induction. The listed companies will manipulate profit, transfer tax through related party transactions. The phenomenon will seriously undermine the legitimate rights and interests of stakeholders, influence the development of capital market. Therefore, the problems in related party transactions of listed companies need to be solved. In January 4,2011,the China Accounting Association announced " the ten high risk areas should be paid attention to in CPA", related party relationship and significant related party transactions were in the fifth place.As an important part of related party transactions, the disclosure of relevant information is important to the protection of the interests of the users of the financial statements.Based on the domestic and foreign related literatures on information disclosure of related party transactions and previous research results, this article elaborate the relevant theory basis and connotation of the concept of information disclosure in related party transactions. The research methods include normative research and statistical analysis, providing the present situation of information disclosure of related party transactions of the pharmaceutical industry in listed companies. The paper takes the ZiXin Pharmaceutical case as a example to analysis the problem of the pharmaceutical industry information disclosure of related party transactions in order to have a more in-depth study. In the end it puts forward three improvement suggestions:accounting standards, corporate governance and external supervision. |
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