Analysis Of Several Key Issues In Corporate Governance

First, set up a "shelf" and establish a standardized corporate governance structure.

The theoretical assumption of corporate governance of listed companies is "because the separation of ownership and management rights of modern companies has resulted in the deviation of managers' behavior from shareholders' interests".

Therefore, the company law of China stipulates that a listed company must implement a joint stock company system.

Establishing effective corporate governance structure of listed companies is the precondition of corporate governance of listed companies. The listed companies become listed companies are not simple changes in appellation, but the real establishment of modern enterprise system. They form a mechanism of checks and balances between owners and managers to manage and control enterprises.

First of all, we need to build a corporate governance structure.

The organizational structure consists of three parts: owners, boards and senior managers.

The company's management system should be rationalized according to the requirements of the modern enterprise system.

The operating and holding institutions of a company must be separated, especially those of the board of directors, managers, finance, marketing, etc., which are independent of the holding institutions. The listed companies and holding institutions must independently calculate their accounts and bear their responsibilities and risks independently.

Second, we must create a good corporate governance culture.

At present, we should focus on cultivating, setting up and strengthening the corporate governance culture awareness of "joint stock company", "shareholders' interests", "shareholders meeting", "board of directors" and "human capital value", and gradually form a corporate culture system that is compatible with the characteristics of listed companies and the culture of holding companies.

Thirdly, the corporate governance mechanism should be implemented again.

The core is to regulate the internal governance mechanism of the company: the principal-agent mechanism between shareholders and the management of the company; the controlling shareholders and the general shareholders are entrusted with each other's responsibility, especially the large shareholders have the responsibility of fair dealing to the minority shareholders.

Effective corporate governance depends not only on sound internal governance structure, but also on good external governance environment and external institutional arrangements, including creditors, institutional investors, intermediaries and self-discipline organizations, managers market, employees, suppliers, customers, governments and other stakeholders.

In order to clarify the responsibilities of shareholders, shareholders' meetings, directors, board of directors and CEO, a listed company should establish and improve the mechanism of introducing external directors, solve the mechanism of management and directors' cross - cutting, and the operation and consequence of the board of directors and rewards and punishments, so as to ensure the realization and quality of various shareholders' rights.

The business goal of an enterprise is to survive, develop and profit. The necessary and sufficient condition to achieve this goal is to ensure enough solvency, reasonable allocation of resources and growth of operating income.

Through the effective combination and coordination of these three factors, the development keynote of enterprises is formed.

Business objectives are ultimately reflected in the financial management of enterprises.

What are the financial goals of a listed company as a modern company? There are many different views at home and abroad. There are two main points of view: one is the traditional "equity supremacy doctrine". The goal of corporate governance is the maximization of shareholders' interests. On the basis of this, it is emphasized that companies should implement unilateral governance, and the other is "high idealism", that is, we should discard the logic of "supremacy of equity" and emphasize the maximization of the interests of stakeholders, and emphasize that companies should implement "joint governance".

In fact, the common points of these views are: whether shareholders' rights and interests are related to the rights and interests of stakeholders, there is only a steady stream of profits and capital for sustainable development, which is the essence of the viewpoint of "maximizing enterprise value".

The maximization of enterprise value takes into account the interests of various interest groups, and the moderate balance between reward and risk is conducive to the long-term and stable development of enterprises.

The ultimate result of "maximization of enterprise value" also maximizes shareholder wealth, reflecting the deep understanding of economic benefits. This is the optimal goal of corporate governance of listed companies.

Therefore, the maximization of enterprise value is the realistic choice of the financial targets of listed companies.

We should sing clearly and loudly, and rely on our fruitful work to really implement the three conventional ways to maximize the value of enterprises, namely, minimizing capital cost, maximizing cash flow and maximizing sustainable development capacity.

Only in this way can we ensure the effectiveness of corporate governance structure and truly enhance the competitiveness of enterprises.

The balance sheet of an enterprise is the "foundation" of an enterprise.

Assets, liabilities, rights and interests are the reflection of the speed, quality and efficiency of enterprise development. They are the embodiment of the past, present and future, as well as the display of enterprise adventure, risk existence and insurance degree.

Listed companies should strengthen the management of assets and liabilities, improve the quality of enterprise assets, and ensure the good assets of enterprises.

First of all, we must strengthen the control of asset liability ratio and keep it in a moderate and stable control range for a long time.

Second, we must strengthen investment management, adhere to the development of projects, resources and resources.

We should attach importance to the financial evaluation of new investment projects and do a good job in the feasibility study of investment efficiency so as to improve the quality and efficiency of investment.

Thirdly, we should rationally control the debt structure, pay more attention to the importance of corporate current liabilities, and keep operating current liabilities in a certain proportion in a long-term manner so as to reduce financial risks.

The profit statement is the "face" of an enterprise. It is a concentrated reflection of the results of the enterprise's production and operation. It is the main yardstick for measuring the survival and development ability of an enterprise.

Business performance is good, enterprises appear to be "face", maintain the "face" of enterprises, one is to expand business and increase profits.

It is necessary to improve the automation level, adjust the quality and safety level of hydropower stations, strengthen the water regime forecast of hydropower stations, rationally arrange the operation mode of hydropower stations and optimize the operation of water level and water level of reservoirs, so as to achieve more frequent safety and maximize the economic benefits of hydropower stations, thereby increasing profits.

We should intensify our policy efforts and be good at using national policies for our own purposes, such as registration of CDM projects, subsidies for tariff increases and so on.

The two is to control the cost and profit.

Due to the particularity of the cost formation mechanism of electric power enterprises, the cost control of enterprises in the past lacked initiative, and cost control focused on macro demand, and weakened the important role of cost control in enterprise management.

Post marketing enterprises should pay special attention to cost control, because expenses are the factors that directly lead to the reduction of net assets of enterprises. To benefit from management, we must benefit from cost control. We need to form the driving force of cost control in order to form the needs of internal management and management of enterprises in the above cities, and implement low-cost operation strategy and tap potential of synergy.

We should strengthen the compliance and implementation of the enterprise cost management regulations promulgated by the state in financial regulations, and effectively increase the control of the three operation expenses, including management expenses, sales expenses and financial costs; reduce the amount of liquid assets and save interest on circulating capital loans; strictly control the extra expenditures and increase extra income.