Research On The Disclosure Of Related Party Transaction Information Of Listed Companies In China

In recent years,With the deepening of China's opening to the outside world and the sustainable development of the market economy,the stock market has developed rapidly.Since China's Shanghai and Shenzhen stock exchange established in a short period of time,the development level of financial market has been close to the developed markets,it took a long time to walk the path of developed countries.As the representative of China A stock market's two stock markets,the stock exchange,the total market value of the stock turnover and financing scale of consecutive years ranked the world's top exchanges.The Shanghai Stock Exchange and Shenzhen Stock Exchange as the basis,coupled with the current Shenzhen and Hong Kong through the opening of China's multi-level capital market system gradually formed.According to the latest data on the capital market statistics,in the total number of Chinese A listed companies has exceeded 3000,in the IPO queue companies as well as six hundred or seven hundred,the gem has reached the level of that newspaper group.Overall,the total market value of A shares ranked second in the world.The development of capital market in a short period of time has made gratifying achievements.In the process of economic development,the enterprise is the cell body of the national economy,occupying the core position.With the expansion of the scale of China's capital market,IPO's accelerated approval,the introduction of foreign capital is deepening,the number of Listed Companies in the A-share market as well as the new three board A showed a surge.The organizational form,industrial model and the scale of the listed companies are also developing.The number of mergers and acquisitions between enterprises is also increasing.All the way to the expansion of enterprise must be accompanied by increased number of related parties,related network complex,related party transactions frequently,and related transaction types,transaction mode and the pricing policy is also increasingly complex,significant related party transactions in the enterprise daily business transactions in the proportion is increasing.Many companies are forced to market performance pressure,V or in order to meet their own financing needs,often through a large number of related party transactions to manipulate profits,earnings management,thus whitewash financial statements.A way to keep open and transparent information is the demand of listed companies need detailed information disclosure,but due to the related transactions of listed companies has its own particularity and complexity,concealment,and information disclosure is not perfect,the low quality of information disclosure of significant related party transactions of listed companies,easy to damage the investors interest.In this paper,a listed company H,which is a typical listed company in the aspect of information disclosure,is selected to study the information disclosure of related party transactions of H listed companies by case study.The first chapter points out the related transaction information disclosure of Listed Companies in our country the research background and research significance of information disclosure of related party transactions of domestic and foreign literature review and summary review,introduces the research methods and technology roadmap.The second chapter analyzes the related theories of related party transactions of listed companies information disclosure basic theory research,which introduces the earnings management theory,transaction cost theory,asymmetric information theory,fraud triangle theory,then the related parties and related party transactions are defined,and summarizes the relevant laws and regulations related party of Listed Companies in China disclosure of information.The third chapter from China's listed companies punishment principle and the significance of information disclosure of related party transactions,are summarized according to the analysis of related party transactions of listed companies information disclosure status and problems.The fourth chapter analyses the case related party disclosure of the selected case of company H,this part introduces the case of the research object of this article,first defines the introduction of H company and its related parties,and then through the H analysis of the past three years the annual report,thus revealing the status of the current information disclosure of related party H,finally pointed out H related parties of the company information disclosure problems,and then from the laws and regulations,illegal cost,internalmanagement,analysis of its causes and the relevant professional quality five aspects.In the fifth chapter,according to the problems in the case analysis of the fourth chapter,the author puts forward some suggestions on how to perfect the information disclosure of related party transactions of H company.Through the analysis of H company's three annual report information disclosure of related party transactions,this article from the H company related transaction information disclosure system construction,improve internal control,strengthen corporate governance,and strengthen the external supervision angle can improve the system of information disclosure related party H.Finally,the sixth chapter reviews and summarizes the main research contents,research from H company of China's individual up to the related party information disclosure of listed companies,the conclusions of the research,and points out the limitations of this paper and the prospect of future research.