On The Financial Management Of Enterprises

From the view of point of management, corporate financial management is a process that financial decision-maker makes his best choice to resolve some financial items. Obviously, there are some significant technical characteristics in the process, but at the same time a lot of institutional factors have strong influences over it .The thesis presents the concept of corporate financial governance making research on finance from the angle of institution.The thesis consists of six chapters, it is organized as follows .In chapter 1 I elaborate the concept of financial governance and its research value, then I compare it with the four relevant'concepts: enterprise financial institution, enterprise governance d enterprise financial institution, and financial strategy Chapters 2-5 are the body of the thesis addressing the contents of enterprise financial governance. In chapter 2,1 draw a conclusion that maximum enterprise value ought to be the enterprises' ideal financial objectives in the perspective of the characteristics that the modern enterprises' ideal objectives ought to have and the reasons of the changes of enterprises' financial objectives. Chapter 3 is based on the principal-agent theory, I focus my attention on the duality and centralization of financial decision-maker, and then I try to find out how to distribute financial rights between the owners and the managers. In chapters 4 to 5,1 try to find out a way to cope with the contradiction among the physical capital owners and the contradiction between the physical capital owners and human capital owners. In chapter 6 I choose "zhengbaiwen " as a typical case making a brief analysis of the financial governance of listed companies in our country.