我国国有企业财务管理目标的演进及启示

财务管理目标是企业在一定期间进行财务管理实践所预期达到的结果.在社会主义计划经济、商品经济和市场经济的不同时期,我们分别把追求产值最大化、利润最大化和股东财富最大化当作财务管理的基本目标.这一演进历程启示我们,现阶段股价并不真实代表了投资大众对公司价值的评价,民营企业财务管理目标不可定义为股东财富最大化.

Objectives of Financial Management and Evolution of State-owned Enterprises in China

Objectives of financial management is an expected result of the financial activities in a specific period, which is obviously related to the economic environment for any enterprise. In the age of plan economy, the objectives of financial management were maximization of the output. At the time of market economy, the objectives of finance management were maximization of the profit and the stockholder's wealth. The development of the objectives indicates that the present stock's price doesn't really represent the appraisal of the public to the corporation's value; objectives of financial management should not be defined as maximization of the stockholder's wealth in private enterprise.