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The Research On Financial Governance Of State-owned Firms

Posted on:2008-02-02Degree:MasterType:Thesis
Country:ChinaCandidate:X LiFull Text:PDF
GTID:2189360275957364Subject:Accounting
Abstract/Summary:PDF Full Text Request
As the pillar of China national economy, state—owned firms play the dominated role for the development of national economy. Till the end of 2005, there have been 127067 firms which are state—owned or controlled by state, and their total assets amount to 22, 222.18 billions Yuan, involving state—owned capital and equity amounted to 86400.51 billions Yuan. Since the beginning of 80s, state—owned firms have experienced a series of reforms, including contracting reform, income tax reform, and stock ownership system reform. Such measures have played certain roles during certain stage, but have never resolved the problems basically which effected competitive of state—owned firms. Unclear equity, the absence of owners, imperfect incentive mechanism and unscientific appreciating standard has still existed. There are so many reasons worried the reform of state—owned firms, but the imperfect artificial person governance system is the basic cause, and the core problem lies in finance governance.The thesis tries to deeply explore the concept, subject, object, goals and means of finance governance, and refers to the experiences and lessens of west nations'finance governance pattern, and combines with the characteristics of state—owned firms in China to propose the basic thoughts aiming to perfect the finance governance structure according to large state—owned firms.The thesis adopts the traditional normative study method, which is proposing the problem, analyzing and resolving it.First, the thesis analyzes the main problems currently encountered by state—owned firms, and the causes giving rise to these problems. Then, the thesis points out that the imperfect finance governance structure is the significant reason, the significance of finance governance study and the goals expected to obtain by perfecting finance governance structure.Second, based on the previous theoretical studies, the thesis points out the measures to further perfect finance governance theory, and suggests that finance governance is not only the means to coordinate the interests of stakeholders but also is a system arrangement that aims to realize the resource optimal arrangement through finance decisions, finance incentives and finance surveillance. The essence of finance governance is a financial management system that aims to distinguish financial rights and so form an equivalence relationship.Third, the thesis conducts a literatures review on the finance governance pattern of the west nations, analyzes Japan's network guided finance governance pattern, American's market guided finance governance pattern, and Korea's government guided finance governance pattern.Moreover , through the comparison between the three finance governance patterns, the thesis points out the Model significance to China's state—owned firms finance governance.Finally, According to the Particularity of China's state—owned firms finance governance. That is, government is the final determiner for important financial events of state—owned firms. The special equity system has determined that the finance governance of state—owned firms must be beyond the simple business interests, and hold certain social characteristics. Combined with these characteristics and based on the above theory and practice analysis, the thesis proposes the thoughts to perfect the finance governance structure of China state—owned firms.
Keywords/Search Tags:State—owned firms, Finance governance, Corporate governance, Financial surveillance, Arrangement of financial management rights
PDF Full Text Request
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