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Financial Basic Theory: The Combined Research Of Value And Power

Posted on:2006-07-15Degree:MasterType:Thesis
Country:ChinaCandidate:Z Q HeFull Text:PDF
Abstract/Summary:PDF Full Text Request
The finance is the activity of capital investment and income shares and its specific economic interest relation at the process of business operation. The character of the finance decides that financial research should investigate from financial dualities which combine the economic attribute (capital campaign) with social attribute (property agreement relation) together. However, the traditional financial theory analyze the economic attribute of finance only from the quantitative aspects, it totally belong to the category of value supervision theory. Along with rise of new institutional economics and property theory, the defective of traditional financial theory makes financial theories field start to study financial theory from the angle of the power, analyze the financial practice subject from qualitative aspect, system level . Taking financial right theory as the point of departure of logic and researching along with the way which value and power combine with , this text researches the basic theoretical questions, such as financial essence, financial body, financial object, financial function, and creates a new modern financial theoretical system that value and power combine with .The financial right, is "financial power" and power that accompany with this mutually, the depiction considers value and power synthetically, match the modern property thought and the content of the modern finance. Corpus and its campaign laws are the point of departure of the modern finance researches. However, "corpus" is just "financial power" in "financial right", its campaign law is that the corpus must concomitant with the power which control the financial power. Therefore, analyzing the modern finance, should start to analyze from "the financial power". "Financial rights flowing" emphasize at the high fusion of value and power, as a result it is the fitting depiction of modern financial essence. The basic content and character of the financial body should consider the both side of value and power also. Economic and purpose is its character at the aspect of worth, the independent financial right is its character at power. The research of the financial basic function should analyze from the financialessence-financial rights flowing, namely from both side of "finance flowing" and"rights flowing", we definite as the function of disposition of resource and the function of disposition of financial-right. The motivation of company financial object should be value and power together. The maximization of shareholder wealth undoubtedly will merge into the maximization of enterprise value and eventually shift its position to the maximization of enterprise value. Pursuing the maximization of enterprise value isSimilar to pursuing the maximization of correlation interest, they just accurately depict financial object from two different aspects-value and power.
Keywords/Search Tags:Financial right, Financial rights flowing, Financial body, Financial basic functions, Financial object
PDF Full Text Request
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