随着我国资本市场的迅猛扩张,监管体系和法律框架难以迅速适应市场变化,导致诸多乱象频发,尤其是一些上市公司的大股东掏空行为,他们利用绝对控制权和信息不对称,侵占公司资产,严重损害中小股东利益,影响市场稳定。鉴于当前处于“十四五”规划的关键之年,金融市场整治刻不容缓,本文基于扎根理论,深入分析了ST东洋、欧浦退和ST中珠三家公司的大股东掏空行为,揭示了股权失衡、信息不对称、公司治理缺陷、第三方监管宽松和公司经营压力等五大问题,并提出了优化股权结构、完善内控制度、信息披露机制、部门独立性和第三方监督等对策,以助力金融市场健康发展。With the rapid expansion of China’s capital market, the regulatory system and legal framework have struggled to keep pace with market changes, leading to frequent irregularities. In particular, the tunneling behavior of major shareholders in some listed companies, who exploit their absolute control and information asymmetry to misappropriate company assets, severely harms the interests of minority shareholders and undermines market stability. Given that the current period is a critical year for the “14th Five-Year Plan,” the rectification of financial markets is urgent. Based on grounded theory, this paper conducts an in-depth analysis of the tunneling behavior of major shareholders in three companies—ST Dongyang, Oupu Retirement, and ST Zhongzhu—revealing five major issues: equity imbalance, information asymmetry, corporate governance deficiencies, lax third-party supervision, and operational pressures. The paper proposes countermeasures such as optimizing equity structure, improving internal control systems, enhancing information disclosure mechanisms, strengthening departmental independence, and reinforcing third-party supervision to promote the healthy development of financial markets.
基于供应链关系,被审计单位与其客户之间的业务往来关系能作为特定信息,同时了解上游供应商和下游客户的前沿信息和交易细节,这些信息有助于发现上游供应商的错报和舞弊行为,为准确评估重大错报风险提供有效的审计证据。本文以2010~2022年A股上市公司为研究样本,研究供应链上下游企业之间的审计意见是否有关联效应,并进一步探讨共同审计师能否提高审计质量。本文研究发现,基于供应链关系下的共享审计师能够显著提高供应链上下游的信息传递效应,共同审计师针对下游的审计意见能够更好预测上游供应商的舞弊行为。Based on the supply chain relationship, the business dealings between the auditee and its customers can serve as specific information. Additionally, gaining insights into the cutting-edge information and transaction details of upstream suppliers and downstream customers can help identify misstatements and fraudulent activities among upstream suppliers, thereby providing effective audit evidence for accurately assessing the risk of material misstatement. This article takes A-share listed companies from 2010 to 2022 as research samples to investigate whether there is a correlation effect between audit opinions of upstream and downstream enterprises in the supply chain, and further explore whether joint auditors can improve audit quality. This study found that shared auditors based on supply chain relationships can significantly improve the information transmission effect between upstream and downstream of the supply chain, and joint auditors’ audit opinions on downstream can better predict upstream suppliers’ fraudulent behavior.
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