| State-owned enterprise groups are one of the important cornerstones of the national economy.They control the life blood of the national economy,guide the development of the economy,and are the most important force for China to participate in the fierce international market competition.Since the reform and opening up,many emerging industries have emerged in China.The marketization degree has been continuously improved and the market competition has become increasingly fierce.State-owned assets are not only distributed in monopolistic industries related to national security and people's livelihood,but also in competitive industries such as manufacturing and service industry.In order to adapt to the complex market environment,a series of special and complicated financial problems have appeared in the process of economic transformation of the state-owned enterprises.The subject of state-owned assets' property right is not clear,the company's financial governance structure is not sound,and the interests of creditors are not effectively protected.These problem seriously affect the governance efficiency of listed companies in our country.It is urgent to solve these problems.Financial governance is the product of rapid economical development and continuous increase of informatization in China Financial governance plays a key role in the management and control of modern group enterprises and plays a key role in the sustainable development of enterprises.Therefore,in order to improve the competitiveness of state-owned enterprises,improve their governance efficiency,and make them adapt to the law of market economy development,it is necessary to pay attention to financial governance,and improve the current situation of mismatch between financial governance and enterprise development.Taking guangji pharmaceutical co.,LTD.,a state-owned listed company in the pharmaceutical industry,as an example,this paper introduces the financial governance of the enterprise from the perspective of the allocation of financial rights,and proposes improvement strategies based on the analysis of its problems and causes.The case study on the specific application of financial governance in guangji pharmaceutical company is conducive to promoting the development of guangji pharmaceutical company,enriching financial governance theory and corporate governance theory,and providing some new governance ideas for the development of state-owned holding enterprise in fierce market competition.Through the research on the implementation of financial governance of guangji pharmaceutical company,this paper analyzes the problems in the financial governance of guangji pharmaceutical company,such as the excessive financial governance power of large shareholders,the loss of financial governance power of small and medium shareholders,the low participation of creditors in financial governance,and the formalization of financial supervision.In view of the existing problems,this paper proposes several strategies to promote the financial governance construction of guangji pharmaceutical company from four aspects,such as improving the state-owned assets management mechanism balancing the ownership structure,increasing the supervision authority of stakeholders,and optimizing the organizational structure.Among them,the improvement of state-owned assets management system can be carried out from the aspect of improving state-owned assets management,strengthening the incentive mechanism of state-owned shareholders and establishing the external supervision system of state-owned shareholders.There are several suggestions on optimizing the shareholding structure,such as adjusting the corporate governance structure,strengthening the role of institutional investors and reforming the shareholders voting system.The improvement of the litigation mechanism of minority shareholders and the supervision power of the bank can optimize the organizational structure and strengthen the supervision function of supervision,so as to strengthen the effectiveness of internal supervision. |
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