Study On Stakeholders' Financial Governance Structure Of Listed Companies

Financial governance structure is the core of financial governance, coming from the combination of corporate governance and corporate finance. So, it responds two different tasks-governance and finance, which makes it a focus between academe and practice. However, it is a pity to find such academic studies just stay immature, the research on financial governance structure can be divided into two schools: shareholders governance model and stakeholders'governance model. In view of the great development of stakeholder governance model, we located the research in stakeholders'financial governance structure. There are still problems need to solve: the acquaintance of the main body of financial governance structure and financial right rests on stakeholder governance model, and who is the main body of financial governance structure can not be recognized. The forgoing question leads to a confusion of apportion of financial right which is the core of financial governance structure, and inconsistent relation of financial affairs. So, It is a key problem to defending the connotation of financial right and ascertaining the main body of financial governance structure in the research on financial governance.The thesis focuses on financial governance structure of stakeholders, and aims at finding a resolvent of forementioned question. Firstly, defined the concept of financial governance structure more clearly on base of evaluation and summarization of other's study, and pointed out the actuality of the confusion of the main body of financial governance structure. Secondly, gave an interpretation of stakeholders which is the main body of financial governance structure according to the theory of stakeholders, resource-dependent theory, property right and other theories. Thirdly, combining the physical truth of listed companies in our country, the paper identified stakeholders from academic aspect further and determined the main body of financial governance structure. Lastly, the paper brought forward strategies for apportion of financial right which is the core of financial governance structure in order to provide a path to stakeholders, financial governance structure of listed companies .