Research On Issues And Countermeasures Of Related Party Information Disclosure Of Listed Companies

Corporate governance has always been a matter of great concern to market investors.The quality of company information disclosure will affect the judgment of market investors.At the same time,the interaction between corporate governance and the quality of corporate information;disclosure directly affects the company's information disclosure quality.In recent years,the market environment in China has become more open and the market competition has become more fierce.Many companies have expanded their company scale by establishing subsidiaries,acquisitions and alliances in order to improve their competitiveness,so that companies naturally form related parties.Related party transactions.Among them,some companies conduct related party transactions in an unfair price in order to obtain benefits,and the phenomenon of accounting information disclosure in violation of regulations has also increased.Based on the status quo and existing problems of listed company's related party information disclosure,this paper first descriptive statistics,and through the analysis of three cases of Zixin Pharmaceutical,Jingtianli and Hairun Photovoltaic,explores related party transactions from the perspective of corporate governance.The reasons for the information disclosure problem are proposed.The article first sorts out the literature research and theoretical basis of related party transaction information disclosure,related party transactions and corporate governance,and provides the theoretical basis for the following.Then,on the one hand,using descriptive statistics,the information disclosure of related party transactions in the annual financial statements of listed companies in China during the period of 2013--2018 is summarized and analyzed from the aspects of information disclosure,related transaction types and pricing principles;On the other hand,by summarizing the information disclosure problems of related party transactions exposed by listed companies punished by the SFC during the six and a half years from 2013 to the first half of 2019,the main problems of information disclosure are summarized.Secondly,from the perspective of corporate governance,through the analysis of three typical cases of Zixin Pharmaceutical,Jingtianli and Hairun Photovoltaic,the reasons for the disclosure of related party transactions are explored.Finally,it summarizes the reasons for the problems in the disclosure of related party transactions,and proposes countermeasures from the perspective of corporate governance,thereby improving the quality of related party information disclosure.Through research,it is found that due to a unique shareholding structure,internal factors such as the weakening of the board of directors and the board of supervisors,external factors such as weak market supervision mechanism and imperfect standards,the related party transactions are not fair,and thus cannot be true,complete and timely.Conduct information disclosure.The practical significance of this paper is to combine the case and related theories to explain the root cause of the problems in the information disclosure of related transactions,and put forward some suggestions for the existing problems,which will help the corporate governance and the improvement of related party information disclosure.