The Study Of Financial Control Based On Corporate Governance

Previously, from macro perspective, financial control study emphasizes on the supervision of the financial regulations, the finance and the tax revenue; from micro perspective, financial control study emphasizes on the internal control as well as accounting control of fund and technology, especially cost control. Research on the theory of financial control was not extracted from the financial management and accounting for deep exploration of essential attribute. Until the extension and development of Incomplete Contract Economics, Modern financial scholars begin consider financial control as an important and independent branch from the standpoint of corporate governances. Besides, they emphasizes on its institutional arrangements, mechanisms perfection and frame construction.First, the paper recalls the development of the Corporate Governances and Financial Control, and makes summary of domestic and foreign scholar's contradiction of the two major theoretical views in the context of the different times and stages of enterprise development, to lay the theoretical basis for the paper's follow-up study. Sceond, according to the new Institutional Economics and Contract Economics, this article explore the general logic of thinking between Corporate Governance and Financial Control, using part of research results of Modern Business theory, Management theory, System theory and Game theory. Third, the paper explains the reason of the common exited problems of the Financial Control in Chinese listed companies, respectively from the internal and external corporate governances. At last, the paper is combination of the status of listed companies'financial control in China and related theoretical results, the purpose is to attempt to build the basic normative framework of financial control in the listed companies and effectively allocate financial rights of control among the stakeholders.