财务管理目标的重新选择

The re-selection of the objective of financial management

财务管理目标是财务管理理论体系中的核心问题,目前,理论界对其争论较大。通过对影响财务管理目标的各因素分析,揭示出"利润最大化"和"股东财富最大化"目标的局限性,从而提出"企业价值最大化"是我国现阶段财务管理目标的最佳选择,并对"企业价值最大化"目标的意义进行了较详细的分析,以期能对财务管理的理论与实践有所补益。

The objective of financial management is one of key issues in the theory of financial management today,and has always been open to dabate.The present paper first points out the limitation of maximising profits and maximising the wealth of shareholders, two objectives of financial management ,by examing a number of factors with influence on making objectives.Then it goes on to explain that maximising firms' financial and social value should be the objective of financial management in today′s China. It is hoped that the idea of maximising firms' financial and socal value will be of some use both in the theory of financial management and in its application.