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企业财务管理的目标具有十分重要的意义,它是企业理财活动所希望实现的结果,是企业整个财务管理工作的出发点。长期以来,我国财务管理理论借鉴西方,上市公司将“股东财富最大化”作为财务管理的目标,非上市公司则将“企业价值最大化”作为其财务管理的目标。两者的本质是一致的。在市场经济条件下,将“股东财富最大化”或“企业价值最大化”作为财务管理的目标与“利润最大化”目标相比,显然是一大进步。它考虑了货币的时间价值,风险和收益等项关系及投入和产出的关系等。但它也存在着重大的缺陷,尤其是与我国经济环境的实际情况不相适应,在实
The goal of corporate financial management is of great significance. It is the result of the wishful realization of corporate finance activities and the starting point of the company’s overall financial management. For a long time, China’s financial management theory borrowed from the West. Listed companies used “maximum shareholder wealth ” as the goal of financial management, while non-listed companies used “maximum corporate value” as their financial management goal. The essence of the two is the same. Under the conditions of market economy, comparing “maximum shareholder wealth” or “maximum enterprise value” as a goal of financial management to a goal of “maximizing profits” is obviously a big improvement. It considers the time value of money, the relationship between risk and return, and the relationship between input and output. However, it also has major flaws, especially inconsistent with the actual situation of China’s economic environment.