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The Theories And Practical Problems Of Modern Enterprise Financial Relationships

Posted on:2006-09-04Degree:MasterType:Thesis
Country:ChinaCandidate:D LiangFull Text:PDF
GTID:2156360152970166Subject:Accounting
Abstract/Summary:PDF Full Text Request
As is generally accepted, the enterprise financing contain two parts: one is implementing financial activities and the other is dealing financial relationships. For a long time, people always pay close attention to the financial activities comparatively abundantly, but study on financial relationships is rather few. We can say, till now, there is no systematized study on financial relationships in the theory circle, and only sporadically appear in the argumentation of other fields. In fact, we realize that financial activities and financial relationships are the two sides of a coin: Carrying on the financial activities, it must establish or advance or overthrow a certain financial relationships; and adjusting a kind of financial relationships or setting up a kind of financial relationships, we certainly regard a certain financial activity as the means.This thesis, comprehensively using property rights theory, modern corporate governance theory, modern west capital structure theory, enterprise financial economics and stakeholder theory and so on, taking the flow of financial rights which brought by financial activities between enterprise and other financial body as a main clue, catching this key concept that "the financial rights flow" tightly, made discussion on some relative topics. First, we retrospect the absence of "financial relationships" in the study of essence of finance. Then, we demonstrate that the theory of "financial rights flow" has achieved consummate presentation on financial relationship. And three topics as follows are discussed: We put forward a brand-new mode that combined together stratified financial rights with parallel to cut apart the financial rights in the vision of financial relationships. Under the traditional Trinity mode, this means the board of directors-manager's storey -financial manager's financial relationships with the enterprise body and the state of financial rights' allocation. The creditor governance that beyond the traditional mode and the game of financial benefit guarantee which under complete and incomplete contract.We don't try to establish a theory frame, just issuing our view on certain topics.Our country is in the key period deepening the SOE reform at present and the core of the SOE reform is that property relations are reformed. In this thesis, we demonstrate that the financial rights are the key powers and functions. Then according our thinking, we should handle the already existing financial relationships well in the SOE reform onone hand, even guide the benign flow of financial rights on the other hand to establish healthy, rational new-type financial relationships. This is exactly a positive realistic meaning of this paper.
Keywords/Search Tags:Financial rights flow, Financial rights, Financial relationships, The theories of financial right's stratify, Financial right allocation, The Trinity, Creditor's interests
PDF Full Text Request
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