企业理财环境变化与财务管理目标的选择

Enterprise Conducting Financial Transaction Environment Alteration and Selection of Financial Management Target

现代企业理论认为企业是一组契约的联合,契约关系人,不仅包括股东、债权人,还包括员工、客户、政府乃至社会。按照理性经济人假说,在企业经营活动中,各契约关系人都会最大可能地追求自身利益最大化。这样,在财富不变的情况下,强调一方利益,必然会损害另一方利益。因此,企业财务管理目标应该是在契约各方相互博弈中的一种均衡。

The moder enterprise is a contract united mechanism in theoretical study, contract related person includes not ont the shareholder, creditor, but also the staffs, customers, government and society. According to rational agent hypothesis, each contract related person will seek self interest as more as possible in enterprise management and administration. Under unchangeable wealth, emphasizing interest one side will affect the other side. So enterprise financial management target should be the contract balance of each side.