上市公司的财务舞弊行为严重地破坏了证券市场的正常秩序，防范和治理上市公司 的财务舞弊行为已经迫在眉睫。本文研究的聚焦点是公司治理与财务舞弊之间存在怎样 的关联？如何从公司治理的层面防范上市公司的财务舞弊行为？为了解答上述问题，本 文的研究思路是选取抚顺特钢作为案例研究对象，基于公司治理理论，从公司外部治理 和内部治理的双重视角开展上市公司的财务舞弊成因研究，并在此基础上提出相应的防 范对策。 本文发现，在公司治理视角下，抚顺特钢财务舞弊的成因来自外部和内部两个方面。 外部治理层面存在的问题有：（1）法律法规不健全，违法成本低；（2）监管力度不足， 无法有效震慑财务舞弊行为；（3）会计师事务所没有发挥有效的外部监督作用；（4）钢 铁行业的恶性竞争引发巨大的经营压力。内部治理层面存在的问题有：（1）股权结构严 重失衡， “一股独大”、国有股比例过高、两权分离度过高、机构投资者和高管的持股 比例过低等问题突出；（2）中小股东的参与程度低，股东大会流于形式；（3）董事会的 成员结构不合理、独立董事监督失效，导致董事会丧失独立性；（4）监事会成员结构不 合理、履职不到位，导致监事会的监督机制失效；（5）核心高管道德滑坡、法制意识淡 薄。抚顺特钢的外部和内部治理结构均存在缺陷，是引发其财务舞弊行为的关键因素。 本文认为，可以通过完善法律法规、加强监管力度、加强会计师事务所的管理、营 造良好的行业发展环境以及加强社会和媒体的监督作用等方式完善上市公司的外部治 理结构。可以通过改善股权结构、提升中小股东在股东大会中的参与程度、保障董事会 的独立性、完善监事会成员的选拔机制、完善高管的选拔任用机制以及强化党组织的监 督作用等方式完善上市公司内部治理结构。通过完善外部治理和内部治理结构，可以有 效提升上市公司的治理水平，从而在公司治理的层面防范上市公司发生财务舞弊行为。 关键词：公司治理；财务舞弊；抚顺特钢 II Abstract The phenomenon of financial fraud of listed companies seriously destroys the order of the securities market. Therefore, it is urgent to prevent and control the financial fraud of listed companies. This paper focuses on the relationship between corporate governance and financial fraud. How to prevent the financial fraud of listed companies based on the perspective of corporate governance? In order to solve the above problems, this paper studies the case of Fushun Special Steel Co.，Ltd with the corporate governance theory. Based on perspective of the company's external governance and internal governance, this paper discusses the causes of financial fraud of listed companies and advances the corresponding preventive measures. This paper finds that the causes of financial fraud for Fushun Special Steel Co.，Ltd are come from external and internal base on the perspective of corporate governance. The problems in external governance include :(1) imperfect laws and regulations lead to low cost of financial fraud; (2) insufficient supervision to deter financial fraud; (3) the accounting firm does not play an effective external supervision role; (4) the iron and steel industry is facing serious difficulties, and vicious competition causes huge operating pressure. The problems of internal governance include :(1) the equity structure is seriously unbalanced, the problem of "one share dominant" is so serious, the proportion of state-owned shares is too high, the separation of two rights is too high ，the shareholding ratio of institutional investors and senior executives is too low; (2) the participation of shareholders' meeting of small and medium shareholders is low; (3) the unreasonable membership structure of the board of directors and ineffective supervision by independent directors lead to the board of directors lacks of independence; (4) the unreasonable structure of the members of the board of supervisors and inadequate performance of their duties lead to ineffective supervision of the board of supervisors; (5) core executives' moral decline and weak legal consciousness lead the way in breaking the law. The defects in the external and internal governance structure of Fushun Special Steel Co.，Ltd are the key factors that lead to its financial fraud. This paper shows that the external governance structure of the company can be improved by improving laws and regulations, strengthening supervision, strengthening the management of external audit institutions, creating a good industry development environment and strengthening the supervision role of the society and the media. The internal governance structure of the company can be improved by improving the shareholding structure, enhancing the participation of small and medium-sized shareholders in the general meeting of III shareholders, safeguarding the independence of the board of directors, improving the selection mechanism of members of the board of supervisors, improving the selection and appointment mechanism of senior executives and enhancing the supervisory role of party organizations. By improving the external governance and internal governance structure of the company, the governance level of the listed company can be effectively improved, so as to prevent financial fraud in the level of corporate governance. Key word: financial fraud; corporate governance; Fushun Special Steel Co.，Ltd IV 目 录 摘要 ............. I Abstract ......... II 图表目录 ..... VII 第一章 绪论 .. 1 1.1 研究背景和意义 ................ 1 1.1.1 研究背景 ..................... 1 1.1.2 研究意义 ..................... 2 1.2 研究的内容、方法和框架 3 1.2.1 研究的内容 ................. 3 1.2.2 研究的方法 ................. 4 1.2.3 研究的框架 ................. 4 1.3 本文的创新点 .................... 5 第二章 理论基础和文献综述 ..... 7 2.1 公司治理概念的界定 ........ 7 2.2 财务舞弊概念的界定 ........ 8 2.3 公司治理理论 .................... 8 2.3.1 产权理论 ..................... 8 2.3.2 委托代理理论 ............. 9 2.3.3 利益相关者理论 ....... 10 2.4 文献综述 .......................... 11 2.4.1 国外文献综述 ........... 11 2.4.2 国内文献综述 ........... 12 2.4.3 文献评述 ................... 14 2.5 本章小结 .......................... 15 第三章 抚顺特钢财务舞弊案例介绍 ...................... 16 3.1 行业背景介绍 .................. 16 3.2 抚顺特钢简介 .................. 17 3.3 抚顺特钢治理结构介绍 .. 18 V 3.4 抚顺特钢财务舞弊案件回顾 ......................... 19 3.5 抚顺特钢财务舞弊手段分析 ......................... 21 3.5.1 虚增存货 ................... 21 3.5.2 虚增在建工程 ........... 22 3.5.3 虚增固定资产 ........... 22 3.5.4 虚构固定资产折旧 ... 23 3.5.5 虚减主营业务成本 ... 23 3.5.6 虚增利润 ................... 24 3.6 抚顺特钢财务舞弊案件的处罚结果 ............. 24 3.7 抚顺特钢财务舞弊案件的影响 ..................... 25 3.8 本章小结 .......................... 26 第四章 公司治理视角下的抚顺特钢财务舞弊成因分析 ..................... 27 4.1 外部治理视角下的成因 .. 27 4.1.1 法律法规不健全 ....... 27 4.1.2 监管力度不足 ........... 28 4.1.3 会计师事务所监督失效 .......................... 29 4.1.4 钢铁行业面临严重困难 .......................... 32 4.2 内部治理视角下的成因 .. 34 4.2.1 股权结构严重失衡 ... 34 4.2.2 股东大会流于形式 ... 40 4.2.3 董事会丧失独立性 ... 42 4.2.4 监事会监督失效 ....... 44 4.2.5 核心高管带头违法 ... 46 4.3 本章小结 .......................... 47 第五章 抚顺特钢财务舞弊案例的启示 .................. 48 5.1 改善上市公司的外部治理环境 ..................... 48 5.1.1 完善法律法规 ........... 48 5.1.2 加强监管力度 ........... 48 5.1.3 加强会计师事务所的管理 ...................... 49 5.1.4 营造良好的行业发展环境 ...................... 50 VI 5.1.5 强化社会和媒体的监督作用 .................. 50 5.2 改善上市公司的内部治理结构 ..................... 51 5.2.1 优化股权结构 ........... 51 5.2.2 提升股东大会的中小股东参与程度 ...... 52 5.2.3 保障董事会的独立性 .............................. 52 5.2.4 优化监事会的成员选拔机制 .................. 53 5.2.5 完善核心高管的选拔任用机制 .............. 55 5.2.6 强化党组织的监督作用 .......................... 55 5.3 本章小结 .......................... 56 研究结论和不足 ......................... 57 1．研究结论 ........................... 57 2．不足之处 ........................... 57。。。。。。以下内容略