Related Party Transactions, Asset Restructuring Of Listed Companies In China

With the development of the securities market of our country, it is increasingly drawing people's attention that more and more listed companies recompose assets by means of affiliated transaction nowadays. Affiliated transaction is originally a neutral in-company transaction behavior. Its existence is unavoidable. Fair, just affiliated transaction can reduce the transaction cost, enhance the efficiency of listed companies and gear up the development of the companies. However, because of various factors such as innormalization of the securities market and the imperfection of the corporate governance structure, affiliated transaction of assets recomposing is becoming "the shadow under the sun". Listed companies manipulate profit by means of affiliated transaction, which does harm to the benefit of most investors and brings risks to the securities market. Following the rapid expansion of the market, there arises naturally a strong and urgent pressure on the enhancement of the normative management of the market. This dissertation analyzes the background and the reason of the affiliated transaction of assets recomposing, and the outstanding problems existing at present, also makes some suggestions of the normalization of the affiliated transaction of listed companies.This dissertation is made up of 5 parts.The preface points out that the affiliated transaction of assets recomposing of listed companies is becoming an increasingly prevalent phenomenon.Chapter 1 introduces the meaning of the affiliated transaction and its occurrence in the world and in China. In this part, I analyze the question from the point of view of the institutional economics.Chapter 2 mainly analyzes the outstanding problems of the affiliated transaction of assets recomposing, its influence and accounting disposal.Chapter 3 is the analysis of countermeasures. This part points out the efforts we have done and problems in the field of the normalization of the affiliated transaction of assets recomposing, analyzes the principle, factors and laws of the disclosure of the affiliated transaction. I bring forward some concrete measures, which can normalizeand guarantee the justice of the affiliated transaction.The epilogue is the summarization of this dissertation.Through analysis above, I have done deep research on the affiliated transaction of assets recomposing of listed companies. I believe that with the maturation of the securities market, it can implement its function of resource allocation, and the securities market will grow more efficiently.