Research On The Financial Governance Of ST Company In Hebei Province

Stakeholder financial governance theory is a rise of a new theory of corporate governance, corporate governance mechanism and long-term development product of the evolution of financial governance to subvert the "shareholders" management mode, it emphasizes claims the company governance by shareholders, managers, employees, creditors, customers, suppliers and other stakeholders to share. The logic of the co governance not only conforms to the inherent requirement of modern market economy, but also in line with the basic concept of modern social competition cooperation. Common financial theory pointed out that not only shareholders bear the residual risk, workers, creditors, suppliers are likely to take the residual risk. All rights Stakeholder input may be relation specific assets, once he used to do in this part of the assets, and its value will be reduced. Therefore, this part of the assets invested in the company is in risk, to encourage specific assets into the company and need to give it some residual income, should be designed with certain contractual arrangements and governance system to distribute to all stakeholders of enterprise control rights, namely all stakeholders should participate in corporate governance.With the increasing perfection of China's capital market, financing channels of capital also becomes diversified, but the capital resources of China's many listed companies are still single, mainly concentrated in the non tradable shares, large institutional investors and some of the risk of investors. It is the corporate governance model is the hegemony, which is the so-called internal control. This governance model will not only caused the company's decision of arbitrariness, the consequences of this light will enable enterprises to got into financial difficulties, will make the enterprise bankruptcy, so to promote to common financial management to replace the hegemony of financial management, this paper to Hebei Province of ST company's financial Governance mode of analysis and research, to the company from the common financial management of capital structure, organization structure, financial structure to explore, looking for lack of corporate governance, and puts forward the overcome these governance measures.This paper is divided into five parts. The first part is introduction of the basic situation of the ST Companies in Hebei Province, is mainly a concise statement of the ST company background and specific to the firm. The second part is the common mode of financial management of the theoretical foundation and development mode are introduced, including total with financial governance mode, design principles, design factors. The third part is comprehensive analysis of the status of the province of Hebei Province ST company financial governance, mainly according to the three factors of the financial governance research. The fourth part is the defects of financial management. The fifth part is put forward specific measures on the governance of these companies defects.