控股股东利益侵占行为及其审计规制

Profit Invasion Behavior of Holding Share-holders and its Auditing Regulations

股改前控股股东对上市公司的利益侵占以"掏空"为主要形式,对其形成动机、实现手段与经济后果进行深入系统地研究,可为监管股改后上市公司控股股东行为提供重要参考基准。与"掏空"对应的是,控股股东在必要时会动用自身资源帮助上市公司渡过难关,以维持其后继续从上市公司转移资源的通道。本文系统分析了控股股东侵占上市公司利益与必要时"支持"上市公司的具体手段和经济实质,并从审计规制角度提出了如何识别利益侵占手段所需关注的各种重要信号。

Prior to the stock reform the holding share-holders＇ invasion of the marketing companies took the major form of ＂hollowing out. ＂ A thorough systematic study of the formative motive, methods of achievement and economic consequences may provide important referential standard for supervision of the holding share-holders of the marketing companies after the stock reform. Corresponding to the ＂hollowing out＂ strategy, holding share-holders may avail of their own resources if necessary to help the marketing companies at times of crisis in order to maintain their continuous access to resources from marketing companies. This article offers a systematic analysis of the concrete measures and economic essence of the holding share-holders＇ invasion of the profit of the marketing companies and their support of the marketing companies at necessary times while putting forward some suggestions on how to discern various important signals concerning profit invasion in the perspective of auditing regulations.