新西兰企业管理论文代写范文节选:大型公司目标研究金融通常被称为是所有组织的生命线,而且通常供应有限.提供融资渠道的途径有多种,但这些来源大致可分为两个(即债务和股权融资)本文将通过资本成本和潜在投资评估模型两部分讨论。
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金融通常被称为是所有组织的生命线,而且通常供应有限。按财务管理的说法,现金是最宝贵的资源,且需要进行有效的管理。寻求金融的行为的重要性不能被过分强调,否则很可能导致像经营活动减缓或破产那样的结果。
向大公司提供融资渠道的途径有多种,但这些来源大致可分为两类(即债务和股权融资)。公司在长期或短期的基础上可能使用外部或内部的来源。短期融资是在这个任务的范围之外。
传统意义上,企业的存在就是去获取利润。但这个概念是相当狭窄和主观的,尤其当利润并不能保证他们的生存和所有利益相关者的利益。公司接下来试图去实现什么?这就是“股东财富最大化”,通常被认为是公司的目标。(Ross,Westerfield&Jordan 2003)
高效的财务管理总是在寻求这样的目标——为股东增加价值并满足所有利益相关者[1]。这种观点强调的是股东作为所有者承担最高风险和利益排名底部,就是在其他利益相关者都得到好处后才轮到他们的事实。那也就是说,他们获得的是剩下的东西。亚当密斯(1776)是最早假设这一观点的人;“商人…通过追求他自己的利益,往往比他真正出于本意的情况下更有效地去保护社会”
大型公司的目的是什么-What Is The Purpose Of Large Firms
Finance is commonly referred to as the life wire of any organization and usually in limited supply.In the parlance of financial management,cash is the most valuable resource and needs to be efficiently managed.The importance of sourcing for finance cannot be over emphasized as lack of it may well result to slow down of operational activities and possible bankruptcy.
There are various sources of finance available to large companies but these sources can be broadly classified into two(that is,debt and equity finance).Firms may use external or internal sources on a long-term or short term basis.The short term financing are outside the scope of this assignment.
Traditionally,companies exist to make profit but this concept is quite narrow and subjective as profit alone does not ensure their survival and interest of all stakeholders.What then do firms try to achieve?That is“maximizing shareholders wealth”which is generally regarded as the objective of firms.(Ross,Westerfield&Jordan 2003)
Efficient Financial Management always seek to achieve this goal as there is a direct co-relation between adding value to shareholders and meeting the needs of all stakeholders[1].This view is highlighted by the fact that shareholders as owners bear the highest risk and rank at the bottom to receive benefits after other stakeholders.That is to say,they get the left-over.Adams Smith(1776)was one of the earliest to postulate this view;‘the business man…by pursuing his own interests,frequently promotes that of the society more effectually than when he really intends to protect it’
Also Al Ehrbar(1998)establishes that,in trying to satisfy the selfish interest of one group(in this case,the shareholders),we end up meeting those of other stakeholder.This is the case as we go down the ranking order to equity holders.
Usually,owners of companies(shareholders)appoint/hire managers(agents)to carry on the business of managing their interest(that is value maximization).This agent-ownership relationship is referred to as the“agency theory”.Most often than not,there exist conflict of interest as some agents or managers(whom I wish to describe as damaging directors,in the light of recent collapse of high profile companies)seek to pursue goals other than the owners.Some of these goals are personal and involve engaging in risky decisions to achieve high bonuses.The Agency Theory or recently Corporate Governance issues tend to negate the over all firm objective of maximizing shareholders wealth.
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