Stakeholders Of Listed Companies' Financial Performance

The institutional economic holds the enterprise is a nexus of contracts with the production and the transaction attribute, from this the contract theory defines the enterprise essence to a series of multilateral contracts among all stakeholders. Extends and development as the modern enterprise theory the stakeholder theory believes the enterprise is established under stakeholder universal benefit balanced premise. If enterprise's essence is a contract, what then is the core of the enterprise overall contract? This paper attempts to propose a new analysis frame based on some researchs: stakeholder finance contract theory.From contract view enterprise financial behavior is actually watching the interests of stakeholders in order to meet their demands and to maximize common wealth. But because has the person by chance with the rationality, causes the enterprise interior to fill the financial conflict, thus has had the question which the finance honors an agreement. If the enterprise is one take the benefit counterparts finance contract as the core contract union body, then studies the benefit counterparts finance contract to fulfill the situation to optimize the contract combination and the drive design, enhances the enterprise achievement and the competitive power has the vital significance.This paper constructs a set of appraisal system to examine listed companies on how stakeholder finance contracts were fulfilled using the statistical method. The result discovered there has been serious problem for china's listed companies to fulfill stakeholders financial contract. But what is reason? This paper separately carried on inquires from two aspects ,the theory and empirical study. As a special system background, the ultimate ownership of listed companies in China tend to be diverse in nature. From the point of view of the ultimate ownership of listed companies ,to fulfill stakeholders financial contract is new issues of great theoretical and practical significance.