The Comparative Research On Listed Company Financial Governance Pattern Of China And America

With the split share structure reform of China's listed companies completed, shares of the listed company have basically completed its full circulation, Stock market starts to enter benign development track. However, the problems of financial governance of Listed Companies remain, like one biggest stock,shortage of corporate bonds market development,limitation of shareholders' meeting and board of directors playing a role,inadequate supervision of the board of supervisors and independent directors,problems of incentive and restraint mechanism of management and so on, which will exist for a long period of time. Only find solutions to these problems, can listed companies in china develop much faster.whether in practice or in theory, study on the listed corporate finance governance in USA is worth of other countries'learning and researching. Despite the Enron and WorldCom scandals in USA, the government of America promptly took urgent measure of the problems, which optimized listed companies in financial management mode. Also because of solution of problems in time, financial management pattern in USA becomes consummate. This article starts from the theoretical background and practical significance of financial management. Basing on clarifying the concept related to financial management and clarifying the relationships between financial governance and corporate governance, financial governance and financial managements, it performs comparisons between the Chinese and American listed companies from two aspects: namely the characteristics and performance of financial governance structure, financial governance mechanisms, and summarizes the causes of these differences, according to which, proposes measures and countermeasures on how to improve the efficiency of financial management of listed companies in China (third aspect of governance).These measures involve how to optimize the listed company equity structure,how to speed up the development of corporate debt market,how to perfect the decision-making mechanism of shareholders' meeting or board of directors,how to establish and improve their financial incentive and restraint mechanisms and how to strengthen the financial supervision mechanism, which could improve the efficiency of financial governance of listed companies.