企业利益相关者财权配置研究

传统的“股东主权”治理关注的是股东利益保护,而公司财务治理主要关注股东和经营者的企业内部财权配置。随着利益相关者理论的发展,现代企业的利益相关者都应有平等机会,享有企业剩余索取权和剩余控制权,企业的财权配置应不仅是内部财权配置,还应扩展到包括外部利益相关者在内的外部财权配置,以及为保证利益相关者财权配置实现的相机治理机制。

Research on the financial-right disposing of enterprise'''' stakeholders

The traditional theory of " Shareholder-Primacy" thinks the financial-rights disposing should be internal financial-right disposing of enterprise between shareholders and managers. With the theory of stakeholders springing up, this paper thinks that the financial-right disposing should be not only internal disposition of enterprise and should expand to include external disposition, as well as the homologous governance mechanism for guaranteeing the financial-right disposing to realize.