The Creation Of The Financial Governance System In Electric Power Enterprises

As the largest state-owned assets and which need the sizable investment, the power sector is one of the most important basic industry of national economics and the development of society. Nowadays, the electric power industry faces so arduous a task about how to promote the instruction of the electric power market, and establish a proper enterprise financial governance and so on.The resolution of these problems relies on the institutional innovation. Along with rise of new institutional economics and property theory, the conception of property rights is used in the financial theory, and a new modern financial theoretical system that value and power combine with has been created. "Financial rights flowing" becomes the essence of the modern finance Using the theories of financial right's stratify and financial body and so on, the theory of the modern enterprise financial governance is set up, which regards the financial rights as the very core. All these theories provide a useful visual angle of the electric power reform.We combine the current situation have described the techno-economic characteristics of the power sector and the track and characteristics of the enterprise financial governance's change. On the basis of using foreign reform experience for reference, we have pointed out the problems influence the enterprise financial governance of the present electric power industry, such as "one share is big along", the scarcity of checks and balances between stock ownerships, internal control, financial governance conflicted with the administrative aivisions, incentive compatibility constraint, and so on. And because of the financial governance is the core and the important component of the corporate governance, we can understand the content of financial governance in the frame of the corporate governance. Therefore, we have proposed at first the corporate governance mode of the power industry should take shareholder's interests as the leading factor, the disposition of financial right as the core, and the correlation interest body can take part in the manage of the corporate. Taking that as the point of departure of logic, this text researches the basic theoretical questions, such as the aim of financial governance, financial body, financial object and the core. On the relational-contingent for reference, we create a new dynamic mode for the disposition of financial right in the electric power enterprises. Lastly, we arises some suggestions about how to improve the financial governance about the power sector.