Study On The Information Disclosure Of Related Party Transactions Of Agricultural Listed Company

At present,the capital market represented by Shanghai and Shenzhen stock markets develops rapidly,and the proportion of related transactions in the daily transactions of listed companies is increasing.Due to the special circumstances of our country;the loopholes in laws and regulations;the defects of internal control and the inducement of interests,which lead to endless financial fraud by listed companies through related party transaction.All these greatly damage the legitimate rights and interests of stakeholders,which also affect the development of the market.The information disclosure of related transaction is an important link in related transaction,which plays an important role in protecting of the rights and interests of information users.China is a large agricultural country,a series of preferential policies have been published for agriculture.As an important part of agricultural enterprises,agricultural listed companies are more and more concerned by people.They have their own distinguishing characteristics,such as low added value,limited appreciation space,and the resources it relies on are also very limited with long production cycle.These defects restrict the speed of the development of agricultural enterprises,so that they cannot expand rapidly as other industries do.In order to satisfy the expectations of investors,the agricultural listed companies have chosen financial fraud for granted,and related transactions have also become stock-in-trade for many agricultural listed companies.Therefore,it is of some practical significance to study the related transaction information disclosure of agricultural listed companies.In this research process,the paper,first of all,starting from the literature of related transaction information disclosure,expounds the related concepts and theoretical basis.According to the related transaction information disclosure of agricultural listed companies,the author extracted some relevant data from the financial research database of Guo Tai An and RES SET.The paper analyzes the related information disclosure data by taking 46 agricultural listed companies,from 2006 to 2015,as sample one;and other listed companies in the same period as sample two.In the mean time,the extracted information is classified by the excel form.With the help of statistical methods,the data changes are summarized and concluded.The paper focuses mainly on the comparative analysis of the various kinds of related transaction data(the methods,frequency,amount,categories,relations and pricing methods of the related party transactions information disclosure)which involved in the above-mentioned companies,and finds out the problems of the related transaction information disclosure of agricultural listed companies.Taking Xin Da DI Company as the research object by studying the details of its related transaction information disclosure.Thus,the problem its information disclosure is obtained.In the end,this paper puts forward some reasonable suggestions on improving the disclosure of related transaction information of Listed Companies in China from three dimensions:improving the disclosure system,the company's internal governance structure and strengthening of the external supervision of the disclosure of related transaction information.