Research On The Administration Of Information Disclosure Of Related Transactions Of Listed Companies

In the 21st century,where the economy is developing at a high speed,the securities market has become more and more standardized under the influence of various rules and regulations.Listed companies have gradually corrected their attitudes and began to address the importance and necessity of information disclosure.The improvement of the quality of information disclosure not only promotes the sound development of the securities market,but also enables the stakeholders of listed companies to obtain relevant enterprise information more quickly and accurately,and improve the investor's operating status and profitability of the listed company.The understanding of information such as level has better protected the vital interests of investors.However,although China's economy has developed to a certain height,the securities market and its fairness and openness have gradually matured,but the irrational performance of the securities market is still too numerous to enumerate.This situation undermines the reputation of listed companies and makes them a large investment.The decrease in the magnitude and the destruction of the equilibrium of the market have led to the bankruptcy of listed companies.Therefore,there is still a certain gap between the status quo of China's securities market and the degree of perfection.With the active development of the securities market,many listed companies in China have expanded their scale of operations and diversified their development,resulting in a large number of small branches,resulting in a wide range of relationships between companies and relatively complex structures.The benefits that the associated exchanges can bring are gradually being overwhelmed by its drawbacks.At the same time,in this relationship,the parties in the unequal position make the related transactions exacerbate the imbalance when making profit distribution.The purpose of related party transactions is to simplify some of the cumbersome links in the company's production and operation process,reduce the corresponding operating costs and risks,and improve the company's operating efficiency.However,due to the lack of relevant legal systems,the disclosure of related party transactions in China's information disclosure violation cases in recent years is a serious disaster area.According to the data and literature,the number and depth of case study analysis of related party transactions in China are insufficient,and they have not been involved in the improvement of the internal system of related party transactions.Since 2017,the CSRC has investigated and dealt with cases of information disclosure violations of Shanghai Dahantricom Corporation related party transactions.Afterwards,there was no literature to analyze the violations of the related transactions by the Shanghai Dahantricom Corporation information disclosure violations and related transactions.Therefore,based on the analysis of the status quo of related party information disclosure,the causes of violations and their harms,this paper takes the Shanghai Dahantricom Corporation related party information disclosure violation as an example,from the perspective of illegal channels,internal control,financial status and external supervision.The causes of the violations of information disclosure of Shanghai Dahantricom Corporation related transactions;and put forward specific suggestions and governance plans on internal governance structure,minority shareholders' appeal mechanism,internal system of related party transactions,financial status,external supervision,etc.,to disclose information on related party transactions.Governance is complemented accordingly.Listed companies can more clearly adjust the information disclosure of related party transactions to specific problems,greatly improve the level of information disclosure,maximize the interests of investors,and have better development prospects.The market economy will achieve stable and balanced development status.