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Study On The Mechanism Of Finanical Management Of State-owned Corporates

Posted on:2008-11-30Degree:DoctorType:Dissertation
Country:ChinaCandidate:X J LiFull Text:PDF
GTID:1119360215994600Subject:Agricultural Economics and Management
Abstract/Summary:PDF Full Text Request
There are lots of problems such as managers who lack impetus and make wrong decisions, management chaos, finiancial fraud and so on while getting prominet achievements during innovation procedures of state-owned corporates in more than 20 years. All these problems are related with distempered mechanism of finiance,so, the innovation and consummation is the key way to solve them. The paper, who starts from the angle of the present situaitons of finiancial mechanism of state -owned corporation , is based on the theory of property right in Marx, modern corportaion and modern finiance . And it is to divide four steps of research.. First, it should explain theory of finiancial management mechanism of state-owned corporation. Second, it should study CorporateGovernance. Third, it should analyse the present problems of financial management system on state-owned corporates, and construct model of controling with together on related man to corportions. Finially, it should study seperatly the content of any sub-mechanism on innovation and consummation according to factors of objective model.Chapter one Intruction The chapter explains the background, goal ,significance and way of research of the paper. And it narrates the possible innovation parts after annotating overview of present research trends both abroad and home on the paper.Chapter two Briefly reviews the concept of mechanism of finiancial management The chapter explains basic notion of system of finanical management and relation between system of finanical managemen and operation and system of finanical management. The funciton of mechanism of finanical management is not only the core of CorporateGovernance but also the basement of operation of mechanism of finanical management of corporates. The chapter studies the collocation of fiscal rights in state-owned corporations and the arrangement of proper rights in principal-agent model.Chapter three The goal of mechanism of financial management As to system of financial management, the proper goal is not only the premise of guaranteeing good cycle but also the basement of foundation. The chapter puts forward a idea to finish corporate goal of finiancial management step by step according to principle of making overall interates into consideration.It can be divided state-owned goal of financial statement into overall and idiographic goal. The overall goal can be separated into economic goal which need make the value of company to be maximum and social responsibilities goal which is shouldered by company. The idiographic goal is also separate into economic goal which includes raising money, investing and allocating management and social goal that reduces social costs and enhances social benefits.Chapter four The construction of objective model about the mechanism of finanical management on state-owned corporations The chapter designs the objective model about the mechanism of finanical management on state corporations of China,which is a model of controling with together on related man to corportions based on market orientation, by studying the experience of finanical management of corporations of USA, German and Japan. It includes mechanism of power based on synthetical incentive, mechanism of operation based on operating smoothly, mechanism of surveillance based on between inside and outside and mechanism of value based on scientific value, which provide the track of research.Chapter five The mechanism of power of finanical managemen The chapter studies the system of yearly income system and how to incentive through stock option of company. The yearly income system ,which bases on annual payment , has a few different constructive forms such as unitary construction . The chapter thinks binary constructive model,which means that yearly income equal to basical payment plus risky payment so that to adapte to the situation of our country. It is reasonable that risky income equals to excessive profits multiplies proportion quotiety and finished quotiety of checking index. As incentives of shares are more better than stock options, the paper analyse the incentives of effect on stock options, the problems which are being on operation and countermeasures of solving problems by using positive references and classical cases.Chapter six The mechanism of operation of finanical managemen The chapter gives a countmeasure through doing a idiographic research constantly and innovationally and assembling with funcional principle of different mechanism. The budgetary mechanism means that a company should select a reasonable model of budget. The core point of goverance mechansim of decision bases on the collocation of finiancial decision rights and scientific management of momentous decision of investment and financing. The core point of financial controllable mechansim is collocation of controllable rights of finiance. The hazard management mechanism can not only do a early warning by using qualitive and quantitive methods but also give countmeasures of preventing and expelling from warning according to different finiancial risks.Chapter seven The mechanism of financial management and surveillance The mechanism of finiancial surveillance of state-owned corporations bases on the finiancial surveillance relations between inside and outside,and the principle way is audit surveillance. It focus on the market leadership that audit surveillance can own and the power of surveillance of social audit that dependes on CPA during the procedure of exterior surveillance mechanism. At the same time, it not only consummates the structure of goverance corporation and but also enforces system of interior audit surveillance,accounting surveillance and CFO in interior mechanism of surveillance.Chapter eight The mechanism of value of financial management The chapter reviews the valuation index system of stated-own performance, and narrates the advantages and disadvantages.Basing on what above dicussed, the paper adds a few financial and unfinancial index such as retained profits, EPS, PE Ratio, Tobin-q and employment training so that to adapt to characters of stated-owned corporations.Meanwhile, the paper does some innovation from the angle of stratagem by using daringly the certain way such as Balanced Scorecard.INNOVATIONS: The fields of innovation in the paper: The paper constructs the new model of financial management of state-owned corporate----- model of controling with together on related man to corporations, which includes the mechanism of power of financial management, the operation mechanism, the mechanism of financial surveillance relations between inside and outside and the mechanism of scientific valuation. And at the same time, the paper also has other innovations which consist of puts forward a idea to finish corporate goal of financial management step by step according to principle of making overall interates into consideration, financial management is the core of Corporate Governance, the collocation of fiscal rights is the core of financial management, and financial management is the basement of operation of mechanism of financial management of corporations.
Keywords/Search Tags:state-owned corporations, financial governance, collocation of property rights, mechanism of financial management, objective model
PDF Full Text Request
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