我国上市公司不当关联交易浅析

企业之间公允的关联交易能够降低交易成本,优化资本结构,增加企业价值。但在实际操作中,一些企业往往利用不当关联交易转移利润,套取资本市场资金,损害投资者和债权人利益,扰乱资本市场秩序。本文主要分析了我国上市公司不当关联交易的主要表现形式及其产生的原因,提出了控制上市公司不当关联交易的措施。

Appropriate transactions within affiliated enterprises can reduce the transaction cost, optimize the capital structure and improve the value of the enterprise. While in the real operation, some enterprises use the improper transaction with affiliates to transfer their profit, arbitrage the capital from the market, which will damage the interest of investors and creditors and disturb the capital market order. This paper discusses the main forms and causes for the listed corporation＇ s improper transactions with affiliates. Some measures to control the improper transactions are also proposed.