The Study On Enterprise Financial Power Configuration Of The Stakeholder Perspective

According to the modern enterprise theory, enterprise is an aggregate of a series of contracts,the establishment and operating activities of enterprise are dependent on the establishment of thecontractual relationship. In the market economy, each activity is a kind of contractualrelationship and contract choice. In the enterprise’s contract option, the financial contractualrelationship is especially important, thai is the enterprise financial management. The enterprisefinancial power configuration is the most important content of the financial contract andenterprise financial management. The task of enterprise is to realize the rights and interests of allstakeholders and to solve all conflicts of them. Making property rights of all relevantstakeholders clear is the focus of all kinds of interest relations.In recent years, there are many still many problems in the process of trading in Chineseenterprises (especially many listed companies), the financial governance mechanism is notperfect and the enterprise financial power configuration is not clear. The phenomenon thatfocuses on the big shareholders but ignore small shareholders and creditors occur frequently, thefinancial constraint mechanism has not been fully exploited; these problems will affect the valueof the enterprise and reduce the corporate efficiency. Therefore, the study of enterprise financialpower configuration is very necessary and meaningful.Domestic and foreign scholars have done a lot of research, but most of them are discussingcorporate governance. The study of the distribution is relatively little and not systemic. Thisarticle is according to the perspective of the stakeholders to study the enterprise financial powerconfiguration, and the study will prove the configuration effects on enterprise performancethrough the theory and empirical research methods.At first, this paper introduces the related basic theories of the enterprise financial powerconfiguration. Then discuss the financial power configuration of stakeholders systematically,analysis of the configuration conflict of stakeholders and the effects on enterprise performance.At last, choose158listed companies to empirical research, according to the results to prove theproblems of financial power configuration of Chinese enterprises, and provide some policySuggestions.