内含的

Because traditional finance subject utmostly canonize the rational selected mode and methodology which keep the form of the financial interest need of the enterprise and its stockholders and the network of their financial relationship out of its analytic area, so liking the mainstream economics, traditional finance subject can not offer trustworthy explains to many financial affairs and can not prescribe the right policy prescription to the important financial problems, either. As a result of the logistic and realistic errors in the traditional mode, it will have an important and practical meaning to bring the new system principle into the analytic area of the financial subject and to develop the financial theory. The main points of this dissertation are as follows: The financial affairs of an enterprise are not the inner actions of the individual firm, but the function of the financial network of stockholders, so we should use the limit of the affairs not the inner property or inner driving force to interpret the financial affairs of an enterprise, we should use the method of circuital analysis not of individual analysis to investigate the financial affairs of an enterprise; The financial affairs of an enterprise is a social behavior, it is involved in the social structure and is restricted by the social structure, so we should care for the social characters, social responsibilities and social effects of the financial affairs of an enterprise; The financial network of stockholders is composed of five phases as follows: the finance of external stockholders, the finance of the operator, the finance of function, the finance of subsection and the finance of the stuff, in which the finance of the operator is dominant; The operational intensity and efficiency of the financial network of stockholders are influenced by technical factor as well as institutional factor, in which institutional factor is the fundamental character of financial affairs. Ultimately the substance of the financial affairs is the arrangement and operation for the financial system by stockholders; The relationship between enterprise and its stockholders is cooperative and conflicting. The important mechanism to solve the financial conflict between stockholders is the construction of the financial system, including the formal and informal system construction. Information and faith are the important mechanism to coordinate the financial conflict between stockholders, so we should pay much attention to the research of formal and informal system.

本文的主要观点是：企业财务行为不是企业个体内部的行为，而是利益相关者财务网络行为，因此应当用对行为的结构限制而不是企业个体的内在属性或内在驱力来解释企业的财务行为，用网络分析的方法而不是个体分析的方法研究企业财务行为；企业财务行为是一种社会行为，它嵌入于社会结构之中，受企业财务所处的社会结构的限定，因此应当关注企业财务行为的社会性质、社会责任和社会后果；利益相关者财务网络内含外部利益相关者财务、经营者财务、职能财务、分部财务和员工财务五个层次，其中经营者财务在其中占据主导地位；利益相关者财务网络的运作强度与运作效率既受技术性因素的影响，又受制度性因素的影响，其中制度性是财务的根本属性，企业财务的实质说到底还是面向利益相关者的一种财务制度性的安排与运作；企业与利益相关者之间以及利益相关者相互之间的财务关系具有合作性与冲突性，化解利益相关者财务冲突的重要机制是财务性的制度建设，包括正式制度建设与非正式制度建设，信息和信任是协调利益相关者财务冲突的重要机制，因此应当高度关注财务的正式和非正式制度的研究。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。