【摘要】： 中小投資者是證券市場中的弱勢群體,而審計師則在保護中小投資者利益中起著不可替代的監(jiān)督作用。為此,本文研究了投資者與上市公司投資契約形成前、形成后以及合作過程中審計對投資者的保護效果。本文通過具體案例分析發(fā)現(xiàn),在合作形成前,公司在上市階段存在與審計師合謀高估盈利預測的現(xiàn)象,我國上市公司在招股說明書中的盈利預測可靠性差。根據(jù)滬深兩市2003年至2005年數(shù)據(jù)發(fā)現(xiàn),在合作形成后,審計師對上市公司的財務狀況出具了具有一定效用的審計報告。即投資者對關(guān)于首次被出具非標準審計意見的上市公司的信息極為敏感,而對于已經(jīng)連續(xù)被出具非標準審計意見的上市公司再次被出具非標準審計意見時表現(xiàn)平淡。文章還系統(tǒng)總結(jié)出,在投資者投資過程中,大股東掏空中小投資者利益的表現(xiàn)形式主要分為:通過非公允價格進行關(guān)聯(lián)購銷和股權(quán)轉(zhuǎn)讓;通過資金占用和借款擔保轉(zhuǎn)移公司利益;侵占公司的發(fā)展機會。本文同時還發(fā)現(xiàn)大股東對上市公司的“支持”往往是為了使公司獲得或保住上市資格以便于以后掏空上市公司。由此,本文認為要更好地保護中小投資者利益需要加強對審計師的監(jiān)督和相應的法律處罰力度,提高審計師的風險意識。同時本文還提出了一些提高審計工作質(zhì)量的具體措施,如:嚴格審計關(guān)聯(lián)方間的購銷、上市公司的往來賬戶、公司擔保事項、募集資金投向和變動等。
[Abstract]:Middle and small investors are weak groups in the securities market, while auditors play an irreplaceable supervisory role in protecting the interests of small and medium investors. Therefore, this paper studies the effect of audit on investor protection before and after the formation of investment contract between investors and listed companies, as well as in the process of cooperation. Through the analysis of specific cases, it is found that the company colluded with auditors to overestimate the profit forecast in the stage of listing before the formation of cooperation, and the reliability of earnings prediction in the prospectus of listed companies in our country is poor. According to the data of Shanghai and Shenzhen stock markets from 2003 to 2005, the auditors issued an effective audit report on the financial situation of listed companies after the formation of the cooperation. That is, investors are extremely sensitive to the information about the listed companies that have been issued non-standard audit opinions for the first time, but the performance of the listed companies that have been issued non-standard audit opinions again is not so good when the listed companies have been issued non-standard audit opinions for the first time. The paper also concludes that in the process of investors' investment, the main forms of the interests of the minority investors are as follows: related purchase and sale and equity transfer through unfair price; Transfer the company's benefits through capital occupation and loan guarantee; encroach on the company's development opportunities. At the same time, this paper also finds that the "support" of the major shareholders to the listed company is usually to make the company obtain or keep the listing qualification so that the listed company can be hollowed out in the future. Therefore, in order to better protect the interests of small and medium-sized investors, we should strengthen the supervision of auditors and the corresponding legal penalties, and improve the auditor's risk awareness. At the same time, this paper also puts forward some concrete measures to improve the quality of audit work, such as strictly auditing the purchase and sale between related parties, the current accounts of listed companies, the company guarantee items, the investment and changes of raising funds, and so on.
【學位授予單位】：對外經(jīng)濟貿(mào)易大學
【學位級別】：碩士
【學位授予年份】：2007
【分類號】：F239.4;F832.51

【引證文獻】

相關(guān)碩士學位論文 前1條

1 胡艷華;中小投資者利益保護與股權(quán)結(jié)構(gòu)的關(guān)系研究[D];浙江理工大學;2010年

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本文編號：2368692