Financial Governance Of Enterprise Group Found Of Cooperative Perspective

Enterprise groups is a network organization between markets and enterprises, as the enterprise groups deepening in the process, gradually,it formed a specialized division of the network, which is based on inter-firm network of resources for the trait basis. Enterprise Group, the parent company in order to optimize internal resource allocation, control, and coordination of its subsidiaries from the shared resources and complementary aspects of knowledge to achieve the purpose of Group synergies. It seems from the research situation, corporate governance of the Group's corporate governance than more complex, mainly for corporate governance in general is the principal and agent between the shareholders and management of a principal - agent relationship, However, due to the complexity of the organizational structure of enterprise groups, within the rich institutional arrangements between subsidiaries, the Group's management in addition to principal-agent problem, but also properly handle between parent and subsidiary, the relationship between the subsidiaries and affiliates. Financial governance of enterprise groups in recent years, financial governance is a hot topic in theoretical circles, many domestic and foreign scholars have done a lot of research on the Group's financial governance in improving the efficiency of Enterprise Group Management to give the important role played by the full recognition, and even further on how to improve the financial management of the Group's operating performance enterprise group conducted in-depth discussion.This article from the relevant financial governance theory starting from a point of coordination for the financial management of the main research enterprise group is between parent companies and their subsidiaries of financial conflicts of interest, financial conflict between mother and child can be divided the parent company and subsidiaries as an independent legal entity between the financial conflicts; the parent company and subsidiary stakeholders of the financial conflict. The parent and subsidiary stakeholders, financial conflict between parent and subsidiary can be subdivided into the conflict between the minority shareholders; parent company and subsidiary of the conflict between the external creditors. This article by the several conflicts of interest against the direction of the conflict into the forward and reverse conflict, that the parent company and its subsidiaries against the interests of stakeholders as a positive conflict; as an independent subsidiary of the parent corporation damage the interests of To reverse the conflict. According to the causes of conflict and conflict specific performance, the corresponding financial governance, the parent company of the subsidiary and its stakeholders can be a conflict between the rights of collaboration to coordinate the financial settlement between stakeholders through the financial the rational allocation of rights, to the effect of checks and balances among interests and ultimately the whole enterprise group synergies to play. The conflict of interest in a subsidiary of the parent incentive and restraint mechanisms and through the Synergy Group resources to be coordinated solution. Subsidiaries of its parent company, the internal incentive and restraint, to promote its subsidiaries overall goals and objectives consistent with corporate groups, so that the Group's overall economic performance be enhanced; on the transfer of resources between the subsidiaries or coordination, help to optimize configuration the resources and make full use of the resources of its subsidiaries, affiliates play the enthusiasm, the resulting group synergy.