Studying And Applying About The Risk-control Of Purchase Fund Based On The Assessment Of Informational Asymmetry

The theory frame of the traditional financial management was established on a hypothesis that information is symmetric and complete. But in fact the enterprise's financial activity is launched under the state of informational asymmetry .So it was very important for studying the impact of informational asymmetry on enterprise's financial management and the countermeasure of it, and also it has important academic value on supplementary and perfection to the theory of financial management. The situations of informational asymmetry generally exist in enterprises. Impacts on the financial activities of enterprises are found in many aspects too. Author plan to research the influence of informational asymmetry on the risk of enterprise's purchase fund and control over it from the enterprise's purchase link, which the situation of informational asymmetry is outstandingIn this thesis, at first, various kinds of situations relating to informational asymmetry have analyzed in the enterprise's purchase activity, and then the mechanism for causing the risk of purchase fund by the informational asymmetry has also been discussed fully as following. Division of labour and specialization cause the informational asymmetry ,and the informational asymmetry causes the agent's adverse selection and moral hazard. If there are no rational incentive system and effective control, it will lead to the risk of the purchase fund. Finally, the countermeasures about risk-control at the angle of the analysis above havebeen put forward as following: ①Alleviating the informational asymmetry, ② Placing the agent in the informational asymmetry; ③Arranging the rational incentive system; ④Setting up the perfect internal-control system; ⑤Establishing the effective punitive mechanism.