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The Correlation Studies between Tunneling from Major Shareholders and Audit Opinion

Author: ChengYanLing
Tutor: ZhuQiMing
School: Hunan University
Course: Accounting
Keywords: Largest shareholder emptied Audit opinion Related party transactions Funds used Largest shareholder guarantees
CLC: F239.22
Type: Master's thesis
Year: 2007
Downloads: 302
Quote: 4
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Capital markets, broaden the financing channels, to improve the efficiency of resource allocation, enhance investor confidence. The largest shareholder emptied seriously damage the development of the capital market is perfect, and affect the normal business activities of listed companies, to undermine the confidence of small investors. Certified Public Accountant audit as a mechanism for the protection of investors, should be able to effectively identify large shareholders emptied behavior, issued by the appropriate audit opinion! Relations practice largest shareholder emptied audit opinion in the end how the audit opinion on the differential the hollowed behavior for large shareholders what? This paper attempts to use empirical methods, the study reveals the relationship between large shareholder emptied audit opinion. This paper first analyzed from the perspective of principal-agent the theoretical origins the largest shareholder emptied behavior, and then analyzes the the hollowed behavior of large shareholders, and analyzed on the basis of the related party transactions under the control of the audit opinion with major shareholders, the funds used for large shareholders The relationship between the guarantee. Second, the combination of the methods of empirical research on the above analysis, 2005-2006 Shanghai stock market data inspection the largest shareholder emptied and the audit opinion of the relationship. The empirical results show: the existence of guarantees and audit opinions for the major shareholders on behalf of the listed companies a significant positive correlation; major shareholders occupied listed company funds and audit opinion does not exist a significant correlation; However, the 2005 large shareholders take up the funds and audit the existence of a significant positive correlation; occupied by the largest shareholder funds of listed companies and the audit opinion in 2006 there is a significant negative correlation. This shows that the 2006 requires listed companies to complete the debts made substantial effect, \But found no association between the listed company and the largest shareholder procurement and associated sales audit opinion there is a significant correlation. The empirical results show that the audit opinion can identify occupied by the largest shareholder of the listed company's funds and to provide security for the largest shareholder, related party transactions between the largest shareholder of listed companies can not effectively identify, this may be due to the related party transactions between them fair fair. Finally, the combination of theory and empirical research, proposed to enhance the quality of earnings of listed companies, strengthen the supervision of the capital market and improve the CPA auditing system up to circumvent the largest shareholder the hollowed behavior, to improve the quality of audits.

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CLC: > Economic > Economic planning and management > Audit > The audit organization and system > China
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