The Multi-level Financial Supervision Mechanism Of State-owned Enterprise And Its Realization Under Modern Enterprise System

Focusing on state-owned enterprise (SOE), especially state-owned soleenterprise, this dissertation starts from current multi-class entrust-agentrelationship of state-owned enterprise, and discusses about the multi-levelfinancial supervision mechanism and its application.With the review of historical courses (including the innovation ofstate-owned enterprise, the theory and practice of financial supervision), thisdissertation analyzes the localization of current financial supervisionmechanism of state-owned enterprise, and points out the imminence ofeffective financial supervision mechanism.The multi-class entrust-agent relationship of state-owned enterprise is thebase of the appearance of different financial subjects, while the reasonablecollocation and flow of the Right to Dispose Financial Resource (RDFR) isthe internal demand of enterprise financial classification. Based on thetheories of RDFR and Stakeholders, this dissertation discusses about thelogical pattern of enterprise financial classification according to theentrust-agent chain of nation enterprise, and then divides it into four classes:contributor financing, operator financing, financial manager financing, andexternal stakeholders financing. The RDFR shared by subject of each classare also discussed in this dissertation.Based on the financial classification system of state-owned enterprise,this dissertation schemes out the multi-level financial supervision mechanism,including government-to-contributor financial supervision,contributor-to-operator financial supervision, andoperator-to-financial-manager financial supervision. With the integration ofcurrent supervision resources, supervision power is reasonably collocated ineach level. To contributor financing, National Audit and governmentsupervision should be put into practice;to operator financing, CFO& Board ofVisitors and CFO& contributor supervision are proposed;to financial managerfinancing, Internal Audit and operator supervision should be applied.Furthermore, some proposals about the improvement of each-level supervisionare tabled, in order to constitute effective financial supervision system ofstate-owned enterprise.Concerning the realization of the mechanism, this dissertation bringsforward System-based Supervision (SS) and Risk-oriented Supervision (RS)as the effective techniques to realize the multi-level financial supervisionmechanism of state-owned enterprise. Furthermore, the concept, procedure,and method of each technique is discussed in this dissertation, while aMulti-level Fuzzy Financial Estimation Model (MFFEM) is brought forwardwith by dint of Fuzzy Theory.At the end of this dissertation, the rationality and validity of themechanism, which is mentioned above, is discussed, and it is finally testifiedthat this mechanism will be feasible enough to the effective supervision ofstate-owned enterprise.