Research On The Stakeholder Objective Of Financial Management

In this paper, with evaluating all kinds of financial management objective, we propound that the stakeholder responsibility is the best objective of financial management. We illuminate the definition and structure of the stakeholder responsibility in five segments.In the first part, we introduce the principle, the character and the ingredient of financial management, and outline the criterion of the best objective of financial management. In this paper ,we think that the financial management objective should be in accord with management objective, economic objective and society objective. The financial management objective should embody contractual relationship, social responsibility and development condition of our capital market. The financial management objective should follow system principle, cost - efficiency principle and relationship coordinate principle.In the second part, we analyze the disadvantage of current ten financial management objectives, which cannot satisfy the financial management's needs.In the third part, we bring forward that the stakeholder responsibility is the best objective of financial management. First, we analyze the stakeholder reasonability's virtue. We think that the stakeholder responsibility can answer for the character, ingredient and principle of financial management objective, which can overcome other objective's shortcoming. Second, we analyze the supply and demand of the stakeholder reasonability.In the fourth part ,we define the stakeholder , the stakeholder responsibility and the objective of stakeholder responsibility. The stakeholder comprise with owner, creditor, staff, operator and governor; Stakeholder reasonability comprise with economic responsibility, law responsibility, moral responsibility and society responsibility.In the fifth part, we explain the implement mechanism. We think, for implementing stakeholder responsibility objective, they must have income distribution mechanism, financial decision mechanism and financial supervision mechanism.