【作者】 张爱兰；

【导师】 王宝庆；

【作者基本信息】 浙江工商大学 ， 会计学， 2007， 硕士

【摘要】 我国上市公司虽然只有十几年的历史，发展却相当迅速，截止2004年4月已经有近1300家，在国民经济中占有相当重要的地位。但是由于相关的法律法规未能跟上经济发展的步骤，导致证券市场上出现了诸多问题，对公司利益相关者利益忽视和侵犯的现象也屡见不鲜。这在一定程度上制约了我国证券市场的健康发展。上市公司的利益相关者是指支持公司正常发展、承担一定风险的自然人和社会团体。他们能够影响公司目标的实现，同时也受到公司目标实施过程的影响，具体来说一般包括债权人、员工、供应商、消费者、社区、政府等，他们都是公司无法回避的利益主体。上市公司的每一个利益相关者都可能非常重要，但并不是意味着他们同等重要，根据他们与上市公司之间合作和威胁的可能性，我们把利益相关者分为四类：支持型、不支持型、边缘型和混合型。对于每一类利益相关者，上市公司所采取的策略也不一样。由于利益相关者影响着上市公司的生存和发展，因此，上市公司应负起对他们的责任，保护各自的利益。通过对我国现有情况的分析发现，我国对于利益相关者的利益保护越来越重视，法律规定越来越多。但通过对现有证券市场上发生的财务舞弊事件分析了解到，当上市公司发生舞弊事件时，我国对于中小股东、债权人、员工等利益保障方面还存在不完善之处。本文讨论的是在上市公司财务舞弊事件中有关利益相关者利益保障问题。在学习借鉴国外经验的基础之上，充分考虑到中国的特殊国情，本文提出了一套较具可操作性的利益保障机制的构想。保障机制由两个部分构成。首先在财务舞弊事件中利益受到侵害的中小股东、债权人和员工要参与到公司的治理中来，监督、控制公司的行为，尤其是财务行为，做到自我保护。其次，外界的监督群体和相关的法律法规也要发挥其作用。证监会、中介机构和媒体也要构成一个外部监督的三维体系，监督上市公司有损于利益相关者利益的行为。当舞弊事件发生时，最重要的措施莫过于及时对舞弊的涉案人员和机构进行严格的处罚和对利益受到侵害的利益相关者予以必要的经济补偿。当然，要使得这个保障机制保护好利益相关者的利益，社会各界要给这个保障机制提供有效运行的一个平台，推出必要的配套措施，如给利益相关者参与公司治理一个法律依据，加强对监督机构的监督以及完善民事诉讼赔偿方面的制度等。该文在研究方法上注重理论与实际相结合，遵循了由一般理论到实务操作的逻辑顺序，理论推导结合实际案例进行分析，论述了我国关于利益相关者利益保护的现状以及解决方案。但是由于问题本身所具有的高难度和作者水平的限制，本文仍存在许多不尽人意的地方，特别是在保护机制中关于法律措施的考虑不是很周全，方案也会有不完善之处。不过，希望该文能够提供一种借鉴的思路。更多还原

【Abstract】 In China, listed companies only have a history about ten years, though they have been developing very rapidly. There are around 1300 listed companies until April 2004.They occupy an important place in the national economy. However, due to various reasons, laws and regulations don’t keep pace with the step of economic development and many problems have emerged, particularly, the negligence and encroachment of the rights and interests of stakeholders have occurred frequently. To a certain degree, all of such problems restrict the development of the securities market.Stakeholders always support companies’ development and assume the risk. They are maybe natural persons or social organization, such as creditors、employees、suppliers、consumers、community、government. Listed company can’t shunt aside the interests of stakeholders. Every stakeholder may be very important, but it does not mean they are equally important to listed company. According to the possibility of the corporation and thread with the company, the stakeholders can be split into four types: support、not support、margin and mix. The company takes different strategies to each stakeholder. Company cannot live and develop if it isolates itself from stakeholders. So, the company must take up the social responsibility to protect stakeholders’ interests. By analysis the existed situation, we find that our country has pay close attention to stakeholders, more and more protections have been published by law. But from the incident of financial fraud in the securities market, we find that there has faultiness in the stakeholders’ protection mechanism.This article is concemed with the protection of stakeholders’ rights and interests in financial fraud of listed company. On the base of referencing abroad experiences, considering sufficiently special condition of our country, this thesis bring forward a more operationally interests protection mechanism. The protection mechanism has two parts. Firstly, minority shareholders, creditors and employees must participate into corporate governance, supervision and control company’s actions, especially financial behaviors. Then they can protect themselves interests. Next, supervisions、rules and regulations must exert a great effect. CSRC、intermediary and media have to make up of a system in three dimension. This system can supervise company’s actions. The best step is punish persons、organizations which involved in financial fraud and pay necessary compensate to stakeholders in time when fraud has been exposed. Of course, in order to make the protection mechanism more available, all circles of social must offer a roof garden to make it more efficient. It contains essential supportive measures, such as supporting a legislative authority for stakeholders in order to take part in corporate governance, supervise supervisory organs, consummate common pleas、compensation system, andso on.The research methodology of this paper is the combination of theory and practice. Following the consecution of general theory to actual practice, combining theoretical derivation and real cases, this paper discussed actuality and solution to the problem about stakeholders’ interests in our country. The topic is difficult to be perfect. Still, it is the humble hope of the author that this article can shed some light on the issue of protection of stakeholders’ rights and interests.更多还原