A Comparative Study On The Rules Of The Related Party Transactions Supervision In Listed Companies

Using the related party transactions (RPTs) is very common among the listed companies. The listed companies, on one hand, use RPTs to win the chances of investment and improve the efficiency of capital operation; on the other hand, they also use non-faire RPTs to harm other related interest bodies. The problem of RPTs of listed companies has become a top issue in front of the supervision of the stock market. On the other hand, with the economic globalization, more and more domestic enterprises have stepped out to the overseas. How do they adapt the overseas supervision environment on RPTs? This is also a though challenge for us. Therefore, it is very important and meaningful to improve and perfect the supervision rules of RPTs,With normative analysis methods, the paper combs the rules of RPTs supervision in China listed companies, makes comparison on them and then make some constructive advises to improve the system of PRTs supervision rules of China. The paper is divided into five parts. Firstly, it discusses about the theories of RPTs and RPTs supervision rules. Based on the theory of new institutional economics, it analyzes why RPTs exist and the pros and cons of RPTs, which are logical point of RPTs supervision. And then, it introduces the theory of RPTs supervision rules and the the principles of supervision on RPTs in the developed countries. Secondly, it briefly introduces the rules of RPTs supervision in listed companies. It summarizes the system of supervision rules on RPTs in the developed countries. Meanwhile, comparing with China's actual situation, it combs each of the rules in this system by listing and summarizing, including company law, security regulations, accounting principles and taxation regulations. Thirdly, it digs deeper in this system, making comparison and evaluation on the rules of definition of RPTs, from the international and national perspective. Fourthly, similar with the previous part, it also makes comparison and evaluation on the rules of accounting treatment and information disclosure on RPTs, form the international and national perspective. Lastly, it comes to the suggestions on perfecting the supervision on RPTs.