本文選題：投資者保護(hù) + 內(nèi)部控制��； 參考：《安徽工業(yè)大學(xué)》2013年碩士論文

【摘要】：大股東侵占上市公司資源，進(jìn)而侵占中小股東利益的一種非常典型的手段就是不規(guī)范的關(guān)聯(lián)交易。鑒于投資者的利益可能被侵害，因此需要一系列制度安排來(lái)保障投資者得到合理的回報(bào)、保護(hù)投資者利益免受侵占，這一系列的制度安排即是內(nèi)部控制制度。本文以對(duì)中小投資者保護(hù)研究為出發(fā)點(diǎn)，論證了內(nèi)部控制如何影響中小投資者的利益，進(jìn)而檢驗(yàn)關(guān)聯(lián)交易對(duì)內(nèi)部控制與投資者利益保護(hù)的傳導(dǎo)效應(yīng)這一主線展開(kāi)，研究?jī)?nèi)部控制、關(guān)聯(lián)交易與投資者保護(hù)三者之間的內(nèi)在關(guān)系。 本文在財(cái)政部、證監(jiān)會(huì)、審計(jì)署、銀監(jiān)會(huì)、保監(jiān)會(huì)五部于2008年5月聯(lián)合頒布了《企業(yè)內(nèi)部控制基本規(guī)范》、2010年聯(lián)合頒布的《企業(yè)內(nèi)部控制配套指引》以及2006年初財(cái)政部頒布了《新企業(yè)會(huì)計(jì)準(zhǔn)則》的制度背景下，，以2008年到2011年間2087家上市公司披露的數(shù)據(jù)為研究樣本，在國(guó)內(nèi)外相關(guān)理論分析的基礎(chǔ)上，采用規(guī)范分析和實(shí)證研究相結(jié)合的方法，提出研究假設(shè)并構(gòu)建模型，通過(guò)引入關(guān)聯(lián)交易為中介變量，研究了內(nèi)部控制、關(guān)聯(lián)交易與投資者保護(hù)三者之間的關(guān)系，從而為中小投資者保護(hù)提供了經(jīng)驗(yàn)證據(jù)。 本文以關(guān)聯(lián)交易為核心，以深圳迪博企業(yè)風(fēng)險(xiǎn)管理技術(shù)有限公司提供的《中國(guó)上市公司內(nèi)部控制白皮書(shū)》中的內(nèi)部控制指數(shù)衡量?jī)?nèi)部控制水平，通過(guò)構(gòu)建投資者保護(hù)指標(biāo)，嘗試研究關(guān)聯(lián)交易對(duì)內(nèi)部控制與投資者保護(hù)的傳導(dǎo)效應(yīng)。研究結(jié)果表明：1）內(nèi)部控制水平對(duì)投資者利益保護(hù)有顯著的影響，內(nèi)部控制的構(gòu)建越完善，越有利于投資者利益的保護(hù)。2）內(nèi)部控制水平對(duì)關(guān)聯(lián)交易有顯著的影響，完善內(nèi)部控制的構(gòu)建可以抑制輸出型關(guān)聯(lián)交易的發(fā)生。3）關(guān)聯(lián)交易對(duì)內(nèi)部控制與投資者保護(hù)有顯著的傳導(dǎo)效應(yīng)，完善的內(nèi)部控制可以通過(guò)抑制輸出型關(guān)聯(lián)交易的發(fā)生、規(guī)范輸入型關(guān)聯(lián)交易的發(fā)生，達(dá)到保護(hù)投資者利益的目的。 本文最后對(duì)實(shí)證研究結(jié)果進(jìn)行總結(jié)，并提出一些政策性建議，同時(shí)指出了本文研究的局限性和不足之處。
[Abstract]:One of the most typical ways for large shareholders to encroach on the resources of listed companies and then to encroach on the interests of minority shareholders is the non-standard related party transactions.Since the interests of investors may be infringed, a series of institutional arrangements are needed to ensure that investors get reasonable returns and to protect their interests from encroachment. This series of institutional arrangements is called internal control system.Based on the research on the protection of small and medium-sized investors, this paper demonstrates how internal control affects the interests of small and medium-sized investors, and then tests the transmission effect of related party transactions on internal control and investor's interest protection.The internal control, related party transaction and investor protection are studied.This article is in the Ministry of Finance, the Securities Regulatory Commission, the Audit Office, the Banking Regulatory Commission,In May 2008, the five departments of the CIRC jointly promulgated the basic Standards for Internal Control of Enterprises, the supporting guidelines for Internal Control of Enterprises jointly promulgated in 2010 and the New Accounting Standards for Enterprises promulgated by the Ministry of Finance at the beginning of 2006.Taking the data disclosed by 2087 listed companies from 2008 to 2011 as the research sample, and on the basis of theoretical analysis at home and abroad, this paper puts forward the research hypothesis and constructs the model by combining normative analysis with empirical research.By introducing affiliated transaction as intermediary variable, this paper studies the relationship among internal control, related party transaction and investor protection, thus providing empirical evidence for the protection of small and medium-sized investors.In this paper, the level of internal control is measured by the internal control index provided by Shenzhen Debo Enterprise risk Management Technology Co., Ltd. in the White Paper on Internal Control of listed companies in China, and the level of internal control is measured by constructing the index of investor protection.This paper attempts to study the conduction effect of related party transactions on internal control and investor protection.The results show that the level of internal control has a significant impact on the protection of investors' interests. The more perfect the internal control is, the more favorable the level of internal control is to the protection of investors' interests.Perfecting the construction of internal control can restrain the occurrence of output-related transactions. 3) related party transactions have significant conduction effect on internal control and investor protection, and perfect internal control can inhibit the occurrence of output-type related party transactions.Standardize the occurrence of input related party transactions to protect the interests of investors.Finally, this paper summarizes the empirical research results, puts forward some policy recommendations, and points out the limitations and shortcomings of this study.
【學(xué)位授予單位】：安徽工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F832.51

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