Research On Relationship Of Stakeholders Sharing In Value-Added Of Public Company And Corporate Performance

With China's transition from the planned economy to the market economy, corporate governance has become the bottle check that restrains the development of our enterprises. How to design the reasonable corporate governance structure to enhance the performance and maximize the benefit of the enterprises is an important problem that we are confronted with.Corporate governance is the stakeholders'financial management which aims to continuously adjust the financial relationship among the stakeholders. This adjustment can work only by using the structure of governance which is a kind of management mechanism of corporate governance. Each kind of stakeholders has different criterion to evaluate the corporate's performance and they do that based on their own benefit. According to the economist and financer's research, the maximization of the corporate'value means the maximization of social welfare which accords with the ultimate request of all the stakeholders.Since the core of corporate governance is the financial management of stakeholders, then the core of the governance structure must be the financial mechanism of stakeholders which just show how to arrange and harmonize the duty, power and benefit among the stakeholders. It becomes the key to set up modern corporate system and enhance the performance of the business as well as to the corporate governance. How to establish and perfect the financial mechanism of the stakeholders has become a vital issue to us. The financial mechanism of stakeholders involves the financial decision-making, incentive and supervisory mechanism which respectively represents the relationship of power and duty, power and...