| Related party transaction research is of great significance to the analysis of earnings management and financial fraud of listed companies.However,with the increasing complexity of the market environment,related party transactions present a new trend of disassociation,which brings new challenges to the existing theoretical research,policy making and market supervision.On the basis of discussing the latest research progress of the disconnection of connected party transactions,this paper takes The Yunnan Coal & Energy CO.LTD.,which received the regulatory inquiry letter of the Annual report of Shanghai Stock Exchange in 2020 as an example,uses the case study method to carry out a systematic and indepth study on the manifestation,motivation,identification and prevention measures of the disconnection of connected party transactions.Firstly,the research background and value of related party transaction disassociation are clarified,and the research status at home and abroad is summarized and sorted out.Secondly,based on the theoretical basis of related transactions,the characteristics and determination methods of related transaction disassociation are studied,the manifestation,motivation and economic consequences of related transaction disassociation are analyzed in detail,and an identification method is proposed.The method is based on the principle of substance over form to judge the related party relationship,which is beneficial to accurately identify the recessive related party transaction disrelated behavior.Then,according to the situation that related transactions of Yunnan Coal & Energy CO.LTD.were inquired by the regulatory authorities,the problem of disconnection of related transactions between Yunnan Coal &Energy CO.LTD.and Yunnan Centralized Mining was proposed,and the cases of Yunnan Coal & Energy CO.LTD.were introduced from the perspectives of the top five customers,types and structures of related transactions.Then,based on the theoretical basis,the case study of Yunnan Coal & Energy CO.LTD.is carried out to elaborate on the hazards and challenges of the disassociation behavior of Yunnan Coal & Energy CO.LTD.related transactions,focusing on the motivation of the disassociation behavior of Yunnan Coal &Energy CO.LTD.related transactions.Finally,in view of the Yunnan Coal & Energy CO.LTD.related transactions non-affiliated behavior of enterprise itself and the economic effects of the capital market,put forward four aspects of prevention and control measures,including perfecting the definition of related party,improve the corporate governance structure,establish more strict supervision and punishment mechanism,and improve the professional judgment ability of certified public accountants. |
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