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| 文章编号：1672-3104(2009)06-0776-06 |
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从利益相关者理论看财务契约与财务冲突 |
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刘冬荣，贺勇 |
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（中南大学商学院，湖南长沙，410083） |
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| 摘 要： 利益相关者理论认为企业是所有利益相关者之间的一系列多边契约。企业缔约主体向企业投入资源归根到底是为了获取财务收益索取权。因而企业事实上是一个以财务契约为核心的各利益相关者缔结的产权契约联结体。利益相关者财务契约强调利益相关者共同价值最大化，是企业整体契约的核心，它着眼于企业可持续发展，克服了以往财务契约理论的局限。财务冲突的焦点是会计信息供求博弈，其实质是财务收益索取权和控制权如何在利益相关者之间的分配。 |
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| 关键词： 利益相关者；财务契约；财务冲突 |
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Financial contract and financial conflict:
in stakeholder theory perspective |
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LIU Dongrong, HE Yong |
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（School of Business, Central South University, Changsha 410083, China） |
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| Abstract: Stakeholder theory holds that the firm is a nexus of multilateral contracts among stakeholders. Participants attempt to obtain financial return by joining firm and the right to get return based on their input.Thus a firm is in fact a nexus of property rights contracts stakeholders signed with financial contract as its core, which aims at sustainable development. The focus of the financial conflict is a game between the supply and the demand of accounting information, and its essence is the distribution of the right to obtain and to control financial benefits among stakeholders. |
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Key words: stakeholder; financial contract; financial conflict |
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