文档介绍：本科毕业论文(设计)
外文翻译
题目上市公司关联方交易相关问题的探讨
专业会计学
外文题目 Related Party Transactions in Corporate Governance
外文出处 Second University of Naples Ttaly
外文作者 Michele Pizzo
原文:
Related Party Transactions in Corporate Governance
Intruduction
Until recent scandals related party transactions did not deserve indepth analyses; academic research mainly focused on different issues and limited attention was paid by regulators and overseers too. Accounting was mainly concerned with potentially biased financial figures; not being carried out at arm’s length, they might diverge from market prices. Meanwhile, in governance studies and codes topics such as position and independence, mittee, directors’ remuneration, etc,largely prevailed. As a matter of fact, financial disclosure suited both accounting and governance studies because the information required was both a proxy of potential accounting bias and a tool for monitoring purposes .However, Enron’s, Adelphia’s and Parmalat’s2 crises shed light on the inherent risks, as related party transactions emerged as a powerful instrument of financial frauds, shareholders’ expropriation, etc.,turning the veil from the many relevant loopholes affecting existing a discovery has obliged regulators and standard setters to strengthen current rules and principles and/or introduce new bans and requirements. A clear shift towards better and more detailed disclosure and the implementation of monitoring procedures (. board approval,independent directors’ involvement, external qualified opinions) can be easily observed (. . 2004) and considered an effective strategy (Djankov et al., 2005). Such a process is still on-going and its impact cannot yet be properly , thanks to
the substantial anecdotal evidence, provided also by former scandals, the suspicious attitude and the mon perceptions, generally panying these operations, became more widely and profoundly accepted. Review of the literature and t