Research On The Identification Method Of Abnormal Connected Transactions Of Listed Companies

With the rapid development of the securities market,the number of listed companies continue to increase the number of abnormal related party transactions,transfer profits,whitewash report,transportation interests behavior emerge in an endless stream by listed companies.Related transactions belong to normal transactions in the process of enterprise production and management,but because the managers of enterprises,large shareholders for their own interests,usually on the related transactions of enterprise information disclosure is not sufficient,and the use of non normal transactions to self whitewash report,transfer profits of the "specific" objective.The abnormal related transaction behavior of listed companies will not only bring economic benefits to business investors,especially external investors,but also disturb the social market and economic order.In addition,the behavior of non normal related transactions in current enterprises is more diversified and more concealed,and it is difficult for investors to know from the surface.Therefore,as an external investor,how can we identify the suspect level of the listed company's abnormal related party transactions and avoid the risk of investment and avoid becoming a kid in the capital market? This will be a very important issue.Based on the perspective of external investors,this paper puts forward a method to identify the abnormal related transactions of listed companies,in order to identify ways to identify whether there are abnormal transactions in the investment enterprises for external investors.In this paper,a combination of theory and case study is used to analyze the recognition methods of listed companies' transfer profits,whitewash statements and interest conveyance behavior by using abnormal related party transactions,and catch up with their roots.First,it introduces the definition of related party,related party transactions and abnormal related transactions.Besides,it introduces in detail the hypothesis of rational economic man,principal-agent theory and information asymmetry theory,which lays a solid theoretical foundation for this research.Secondly,we analyze the related contents of the abnormal related transaction banks,specifically analyze the main types,manifestations and adverse consequences of the abnormal related transactions.On this basis,based on the perspective of external investors,this paper constructs a method system for identifying the abnormal transactions of listed companies from two aspects: the affiliated party relationship and related transaction.Then,in the case of Sany company,the listed since 2003 with the abnormal transactions whitewash report,improriated capital and recognition to the related party interest transfer behavior,in order to verify the feasibility and correctness of the method proposed in the above recognition.Finally,the paper makes a summary of the various parts of this paper,and puts forward the limitations of this paper and the direction of further research.