上市公司关联方交易对利润影响的实证研究

发布时间：2018-03-14 10:51

本文选题：关联方交易　切入点：利润操纵　出处：《河北大学》2013年硕士论文　论文类型：学位论文

【摘要】：近年来，随着经济全球化的发展和市场竞争的愈演愈烈，企业为了抵御风险，同时，在激烈的竞争中处于不败之地，企业之间纷纷形成战略联盟或企业集团。随着企业集团化的扩大，关联方交易也频频发生，所占的比重也越来越大，其对社会经济的影响也越来越广泛。事实证明，关联方交易是不能消除的，如何对关联方交易特别是上市公司的关联方交易进行监督就成为当今关注的焦点与研究的重点。为了从理性上进一步弄清上市公司关联方交易操纵利润的主要形式，使广大的投资者能够有效的判断上市公司利用关联交易对其利润的影响，本文从揭示关联交易操纵利润的基本原理问题入手，引出关联方交易与利润的关系，，借鉴国内外学者对关联方交易操纵利润的影响研究方法，以2011年度审计报告提供的36家上市公司的关联方交易数据为样本，进行实证研究，主要通过eviews与spss计量经济学软件进行回归分析和系数的假设检验等计量经济学分析方法和统计学分析方法，以关联方交易的各种方式为解释变量，构建多元回归模型，从而使广大的投资者更有效的识别与防范上市公司利用关联方交易操纵利润对公司的影响。最后结合实证分析得出的结果，从监管部门、上市公司自身、中介结构三个角度提出防范关联方交易操纵利润的对策及建议。
[Abstract]:In recent years, with the development of economic globalization and the increasingly fierce market competition, enterprises in order to resist risks, at the same time, in the fierce competition in an invincible position, Enterprises have formed strategic alliances or enterprise groups one after another. With the expansion of enterprise collectivization, related party transactions have occurred frequently, accounting for an increasingly large proportion, and their impact on social economy has become more and more extensive. Facts have proved that, The related party transaction cannot be eliminated. How to supervise the related party transaction, especially the related party transaction of the listed company, has become the focus of attention and research. In order to further understand the main forms of profit manipulation in the related party transactions of listed companies, so that the majority of investors can effectively judge the impact of related party transactions on the profits of listed companies. This paper starts with revealing the basic principle of manipulating profits in related party transactions, leads to the relationship between related party transactions and profits, and draws lessons from the research methods of the influence of domestic and foreign scholars on the manipulation profits of related party transactions. Taking the related party transaction data of 36 listed companies provided by the annual audit report of 2011 as a sample, the empirical study is carried out. Mainly through eviews and spss econometrics software to carry on the regression analysis and the coefficient hypothesis test and so on econometrics analysis method and the statistical analysis method, taking each kind of related party transaction as the explanation variable, constructs the multivariate regression model. So that the majority of investors more effectively identify and prevent listed companies using related party transactions to manipulate the profits of the company. Finally, combined with the results of empirical analysis, from the regulatory authorities, listed companies themselves, This paper puts forward the countermeasures and suggestions to prevent the manipulation of profits in related party transactions from three angles of intermediary structure.
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F224;F275;F832.51

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