Financial Analysis System Reconstruction Based On Co-Governance Perspective

Modern enterprises are gradually paying attention to stakeholders needs and creating surplus value for stakeholders, rather than committing to the interests of shareholders. And the corresponding co-governance has been more widely recognized. However, information about co-governance has not received adequate attention. Although financial analysis, as decision support tools by providing information, has made great achievements, but the functions to provide information for co-governance is very weak, and is not conducive to achieving goals of co-governance. Therefore, we need to construct a financial analysis system based on co-governance perspective to provide equal information for all stakeholders, contributing to promote the co-governance for modern enterprises.After learning the background for the current study, the thesis reviews the relevant literature, expands the construction of the financial analysis system for co-governance on the basis of domestic and international relevant research. Firstly, clearing related concepts and theoretical support, we briefly analyze demand for co-information and specific information preferences when participating in co-governance, then focus on analyzing the current financial analysis system defects for co-governance:unilateral governance perspective, deficient connectivity, lack of information consideration for some stakeholders’ decision-making, insufficient analysis of the contribution of each stakeholder. Secondly, we try to solve this problem:seizing two clues (contribution&request) to analyze the various stakeholders one by one and establish comparable information taking into account various stakeholders’ specific information preferences, and lastly reconstruct a financial analysis system based on stakeholder co-governance. Finally, we analyze how to promote co-governance equilibrium using the new system, supplemented by a case study proving its existence and usefulness. The innovations of this thesis are justly the perspective co-governance that the financial analysis system improvement is based on, and two clues of the financial contribution and financial request in improving research. The financial analysis system Reconstruction is not only concerned about the internal and the current year, but also extend to outside the enterprise horizontally and extend to future periods vertically. Then, the financial contribution and request of stakeholders is more comprehensive.Study also found:the nature of an enterprise is a group of contracts that stakeholders reach together. With investing resources, stakeholders are all the owners generally, having rights to participate in co-governance, and more or less control, rather than just shareholders and managers having it; Co-governance is a dynamic process to achieve equilibrium by using financial analysis to analyze the contribution constantly and adjust request plan repeatedly; The realization of equilibrium is based on the design of power and responsibility division on surplus contribution, transactions mode determined in accordance with contract, a fair and effective share of the cooperation surplus.