基于经济学的财务治理目标建构

本文在对现有理论观点及其研究逻辑予以回顾的基础上,提出公司财务治理目标理论研究的新范式:企业理论是财务治理目标研究的理论渊源,财务治理本质理论以及财务管理目标理论,是财务治理目标研究的直接依据;然后论证了财务治理的目标是优化公司财务治理机制以实现代理成本的最小化,并将实现该目标的条件予以正式化;最后提出了在该目标模式下公司财务治理机制选择与优化的基本逻辑。

The Formulation of Financial Governance Goal Based on Economics

On the basis of reviewing the extant theories and its researching logic, we come up with a new researching format of the corporation financial governance goal theory: enterprise theory is the basis of the corporation financial governance goal, the corporation financial governance nature theory and the corporation financial management goal theory are the restrictions to the definition of the corporation financial governance goal. We draw a conclusion that the goal of corporation financial governance is to seek to the minimum agent cost by optimizing the corporation financial governance mechanism. At last, we give the basic logic of the selection and optimizing of the corporation financial governance mechanism under the goal pattern.