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一、企业财务管理目标的代表性观点分析(一)股东财富最大化这是西方财务管理目标的代表性观点。这种观点认为,股东创办企业的目的是扩大财富。其投资的价值在于能够给所有者带来未来报酬,包括获得股利和出售股权换取现金。在股份经济条件下,股东财富由其所拥有的股票数量和股票价格决定,因此股东财富最大化最终体现为股票价格。
First, the analysis of the representative point of view of financial management objectives (A) to maximize shareholder wealth This is the representative point of view of Western financial management objectives. In this view, the purpose of shareholders to start a business is to expand their wealth. The value of the investment lies in the ability to bring future pay to the owner, including the acquisition of dividends and the sale of shares for cash. Under the conditions of the stock economy, the shareholder’s wealth is determined by the number of shares owned by the shareholder and the stock price. Therefore, the maximization of shareholder wealth is finally reflected in the stock price.