The Financial Analysis Of Capital System Evolution And Corporate Finance Government

During the evolution of corporate system, the most important aspect is corporate capital system, because the result of capital system evolution not only decided the market subject-enterprise's value creation rule, but also became the foundation of corporate government as well as the transaction, and the essential factor of capital market. In fact, the capital system is the institutional arrangement, which achieves the balance between return and risk, this institutional arrangement was firstly decided by the symmetrical characteristic of capital's return and risk. So the thesis uses the finance theory to analyze the main reasons of capital system evolution and the influence on the corporate finance government, the purpose is to extend the field of capital system research, to develop china corporate finance government, to establish effective capital market, and to provide more theory basis on china company law reform.This thesis is divided into six chapters, in chapter 1 , we expound the significance of the question to be studied, the study method and the innovation; The chapter 2 is a theoretical review of the question; In chapter 3 we analyze the relation between finance theory and capital system, and discuss the institutional arrangement about return and risk of capital system; in chapter 4, through the capital's analyzing, the risk management theory, the enterprise valuation theory, the modern company cybernetics, we consider the influence of modern finance theory which impact the capital system evolution; chapter 5 introduces different corporate finance government patterns; in the chapter 6, we proposed the method about how to further reform our company law and how to develop china corporate finance government.One of innovation in the thesis is that we discuss the relation between the development of finance theory and the evolution of capital system, summarize the dialectical relation of them; the second innovation is that we use the symmetrical characteristic of capital's return and risk to systemically discuss the capital system evolution. In brief, from the historical development angle, this thesis uses the finance theory to analyze the determining factors of system evolution and the influence on the finance government.