金融渗透理论与企业理财

The Financial Permeation Theory and Corporate Finance

随着市场经济的发展和经济全球化的深入,企业理财理论有必要从开放、动态的视角来分析和透视企业的理财活动。文章应用金融渗透理论重新审视了企业价值的创造过程。企业的历史沿革反映了金融渗透的互动过程。在某一特定时空条件下,金融渗透处于动态的均衡状态。金融市场的流动性创造、风险规避、资金融通、控制权市场等四项基本功能的发挥直接影响到金融渗透的程度和速度。文章进一步分析得出,宏观经济部门和市场微观组织的金融渗透与金融市场的结构密不可分。

With the development of market economy and economic globalizations, it is essencial for corporate financing theory of financial management to analyze and perspect the financing aotivities from an open and dynamic view. In this paper financial permeation theory is applied to examine closely the creation process of firm value. The historical evolution of the firm reflects the inter action of financial permeation. Under a certain specific space-time condition, the financial permeation is in a dynamic balanced state. The extent and velocity of financial permeation is directly influenced by the four basic functions of financial market, such as liquidity, risk evading, financing, and corporate control. It can be further concluded through analysis that the financial permeation of macroscopical economic department and microcosmic organization is inseparable from the financial market structure.