A Study Of Corporate Finance Governance Based On Financial-right

Since the seventies of twentieth century, with theory of corporate governance being brought out, the attention to study on theories of capital structure has been paid to its efficiency on corporate governance, therefore, the school of capital structure on corporate governance has been formulated and attained a lot of research achievement. In practice corporate finance and corporate governance are always interwoven. To solve certain question, singly measure can hardly get ideal effect, and only comprehensive research and design could effectively solve complex problems. The formation and perfection of finance governance theory suits the need of theory and practice, and quickly becomes a new research field of finance theory.This thesis, comprehensively using financial-right flow theory, modern west capital structure theory, corporate governance theory, enterprise theory and property rights economics and so on, taking financial right allocation as a main clue, by discussing the concept of financial right and corporate finance governance, finance governance subject, finance governance center, finance governance model and so on, puts forward the basis framework of financial-right allocation and preliminarily sets up the finance governance system. This thesis tries to found a relatively integrate finance governance system and framework structure, bring some interest to solving the complex finance governance issues of China.Our country is in the period of economic transition, the reform proceeding of stated-owned companies is confronted with so many problems of corporate finance governance, the abnormal equity structure in which state-owned shares are in dominated proportion leads to serious problems of insider control and deficient motivation to managers of listed companies. These problems lead to commonly efficiency weaken of capital structure on corporate governance of our listed companies. Based on the current capital structure situation of our listed companies, this paper discussed the improvement measures of equity structure and corporate finance governance.