上市公司关联方交易中财务舞弊研究——以新疆浩源为例.pdf

摘 要 上市公司的财务舞弊行为一直受到广大学者和投资者的关注，是热门研究话 题。而关联方交易伴随着企业集团的的兴起逐渐成为上市公司财务舞弊的重要通 道与手段。不少上市公司不仅不按照中国证监会相关规定要求披露关联方与关联 交易，还通过复杂的关联交易运作和会计信息作假进行财务造假。上市公司的关 联交易手段也日趋复杂和多样，包括关联购销、受托经营、占用资金、提供资金、 关联担保等多种形式，而且此类关联交易行为又常常隐藏在隐匿关联关系、解除 关联关系、隐蔽的非关联方利益输送链条之中，导致监管部门监管难度进一步加 大，而投资者识别关联方交易下的财务舞弊也更加困难。近年来，上市公司构成 “关联方对公司的非经营性资金占用”而受到证监会处罚的事件频发。这些行为 使得财报使用者无法获取有效信息，还会损害中小投资者利益。 本文通过理论与案例相结合，对上市公司关联方交易舞弊的行为进行了深入 分析，找出其成因以及手段。首先，梳理了关联方及关联方交易的相关念界定及 基础理论，然后结合案例情况，结合数据找出其舞弊成因，进而找出其手段。本 文在分析部分也提出了相关治理建议和对策，认为上市公司应当注意内控制度以 及内部监管制度，加大市场力度的同时提升舞弊成本，以抑制上市公司财务舞弊 行为，规范资本市场。本文选取新疆浩源作为研究，与以往通过关联进行盈余管 理的目的不同，该公司是舞弊动机为资金周转困难，不得不粉饰报表，以掩盖真 实的财务数据。 关键词：关联方交易；财务舞弊；上市公司 I ABSTRACT The financial malpractice of listed companies has been the focus of scholars and investors and is a hot research topic. With the rise of enterprise groups, related party transactions have gradually become an important channel and means for financial fraud of listed companies. Many listed companies not only fail to disclose related parties and related transactions in accordance with the relevant provisions of China securities regulatory commission, but also conduct financial fraud through complex related transaction operations and accounting information fraud. The related transactions of listed companies means also become increasingly complex and diverse, including associated procurement, entrusted management, take fund, a variety of forms such as funding, associated guarantees, and this kind of connection transaction behavior and often hidden in hidden relationships, terminate the relationship and concealment of conveyor chain of related party interests, leading to further intensify the regulatory supervision difficulty, and investors to identify financial fraud under the affiliated party transactions are more