Research On The Information Disclosure Quality Of Related Party Transactions

In China,the related party transactions are widely present in the day-to-day business activities of the listed companies,and the root causes of the listed companies are both the reasons for the listing and the reasons for the listing.Due to the complexity and concealment of the related party transactions,if the related party transactions can not be timely,complete and fully disclosed,investors can not obtain real information about the financial status,operating results and cash flow of the enterprises.Further exacerbate the information asymmetry,the interests of the majority of investors will inevitably be infringed.Strengthen the disclosure of related parties and their transactions can reduce the operation of the black box,to a certain extent,to prevent the occurrence of false related party transactions;help to form the company's external oversight mechanism,restricting the use of major shareholders to take advantage of related party transactions,as much as possible to ensure that related parties The fairness of the transaction.This paper discusses the purpose,significance,research content,related concepts and research basis of the research on the basis of the previous research results based on the related literature research of related parties and their transaction information disclosure at home and abroad.Based on the research method of descriptive statistical analysis,this paper makes a statistical analysis on the types and the amount of related party transactions of the Shanghai Stock Exchange(hereinafter referred to as "Shanghai Stock Exchange")from 2011 to 2015,and found that the related transactions The top three are related party funds borrowing,related party purchase and sale transactions and related party mortgages and guarantees,and all kinds of related party transactions on the overall growth trend.In order to understand the quality of information disclosure in these key transactions,this paper examines the financial statements of the DSS 50 Index(excluding the financial sector)as a sample.The study finds that the three types of related parties and their transaction information disclosure exist: the disclosure format is inconsistent and the disclosure elements are not completeness,trading reasons,decision-making procedures,pricing policies and the impact of related party transactions on the financial management results of listed companies and other issues are not sufficient.This paper also found that,due to the accounting standards for related parties and their transaction information disclosure requirements are not specific,the SFC annual report disclosure standards andaccounting standards inconsistent,and significant related party transactions in the annual financial report important issues disclosed,thereby reducing the related parties and its the usefulness of the decision in the transaction information table.In order to increase the information content disclosed in the related parties and their transaction information tables,this paper reconstructs the three types of related parties and their transaction information disclosure standards according to the requirements of elements integrity,format specification and content disclosure.Finally,based on the detailed analysis of its related party and its transaction information disclosure in 2016,the author analyzes the disclosure of the related parties and their transaction information in the notes to the financial statements.This paper analyzes the feasibility of the information disclosure standard of related party transactions constructed in this paper and the goal of realizing the decision-making of financial statements.