【作者】 张旭蕾；

【导师】 冯建；

【作者基本信息】 西南财经大学 ， 财务管理， 2010， 博士

【摘要】 信息技术和计算机网络技术的飞速发展给人类的生产和生活带来了巨大变革。特别是随着世界经济一体化步伐的加快,市场竞争日益加剧,越来越多的企业意识到单凭自身内部资源的整合,已经难以把握快速变化的市场机遇,于是它们开始将注意力转向企业外部。而虚拟企业作为一种以提升核心能力为目标、优化整合企业外部资源的一种手段,开始成为企业适应经济全球化、网络化的现实选择。虚拟企业以其具有快速开发产品、满足个性化需求等优点,逐渐进入我们的视野,并成为管理学界重要的研究对象。经过十多年的发展,理论界和实务界对虚拟企业的相关问题进行了较多探讨。但虚拟企业毕竟是一个新事物,仍然有许多问题没有取得共识。基于目前掌握的文献,如何针对财务管理特点制定虚拟企业的财务制度,尚未进行系统的研究。本文就是力图在深入认识财务制度安排的基础上,对虚拟企业的财务问题做出系统地分析,并提出较完整和较具体的虚拟企业财务制度安排框架,以期能对虚拟企业的理论研究和实践尝试有所助益。本文的研究思路是,首先,分析虚拟企业的内涵、性质、特性、组织模式等理论问题,为本文奠定了研究基础；然后,从制度安排的涵义入手,提出财务制度安排的理论结构；在此基础之上,结合虚拟企业的特点,构建出虚拟企业财务制度安排的理论框架,为具体财务制度的设计提供理论支持；最后,对虚拟企业显性财务制度、隐性财务制度、财务治理等具体问题进行了详细的探讨。本文共分7章,各章主要内容如下：第1章,绪论。本章介绍了虚拟企业财务制度安排研究的背景、综述、意义、思路和方法。第2章,虚拟企业理论诠释。本章从虚拟企业的溯源入手,通过比较分析得出了虚拟企业的具体内涵；同时,分别从经济学、管理学、社会学的视角探讨了虚拟企业的性质。其次,得出虚拟企业的特性,这些特性也是其区分于传统企业的显著特性。最后,分析了虚拟企业的组织特征,根据核心成员的数量不同,认为虚拟企业可以分为联邦模式、.平行模式和星形模式三种组织类型,这也为虚拟企业财务组织结构的分析奠定理论基础。第3章,虚拟企业财务制度安排的理论基础和内容框架。首先,在辨析制度和制度安排的基础上,探究虚拟企业财务制度安排概念的内涵。其次,从制度经济学和现代财务理论分析财务制度安排的理论基础,这是研究财务制度安排问题的前提。再次,提出财务制度安排的理论结构主要由目标、本质、主体、对象、假设等抽象理论问题构成,并在财务制度安排理论结构一般性描述的基础上,结合虚拟企业的特点,对虚拟企业财务制度安排的理论结构进行了重构。最后,在显性财务制度、隐性财务制度、财务治理三者形成横向制度安排的基础上,针对虚拟企业的动态性,提出了面向全生命周期的纵向虚拟企业显性财务制度,从而构建出虚拟企业“立体式”的制度安排框架。第4章,虚拟企业显性财务制度安排。显性财务制度在虚拟企业财务制度框架中居于重要地位,它具有较强的财务约束力。本章首先分析了显性财务制度应该遵循的原则,再依据虚拟企业的生命周期,勾勒出虚拟企业酝酿期、组建期、运作期、解体期财务制度的基本蓝图。虚拟企业酝酿期的财务制度主要包括市场机遇价值评估制度、预计期望收益衡量制度；组建期的财务制度主要有筹资制度、投资制度；运作期的财务制度是显性财务制度的核心,主要包括风险管理制度、利益分配制度、成本控制制度、绩效评价制度；解体期的财务制度安排应从项目中止识别制度、清算制度两方面进行考虑。第5章,虚拟企业隐性财务制度安排。隐性财务制度是一种无形规范,以“软约束”力量构成财务有效运行的内在驱动力,需要自觉执行。隐性财务制度的基础是财务伦理,它是企业在财务运行过程中,整合和调节各种财务关系时,所表现出的伦理理念和伦理特征,具体表现为财务伦理化和伦理财务化两个方面；按照不同的财务活动将财务伦理划分为融资伦理、投资伦理和分配伦理。虚拟企业财务伦理更强调各成员企业之间的财务伦理的协调,本章提出可以通过提升财务伦理思辨能力、建立财务伦理的监督体系等手段培育和完善虚拟企业的财务伦理。虚拟企业是跨文化管理,而财务文化能够潜移默化形成“习惯”,作为一种非正式约束来协调企业财务管理。所以,基于跨文化管理,虚拟企业财务制度安排主要体现在要创造彼此信任的财务文化环境、建立跨文化的人员管理模式、培育财务文化三个方面。此外,为了维护虚拟企业的关系资本,虚拟企业财务制度要构造良好的沟通环境、注重关系资本的价值衡量、增加关系资本的投资、规避关系资本的风险。第6章,虚拟企业的财务治理结构与机制。财务治理是基于企业内部财权关系的基础上,形成企业财务相互影响、相互约束的制衡体系,保证规范财务活动、处理财务关系的有效实施。本章基于财权配置,得出了财务治理的一般框架,即财务治理结构和财务治理机制。财务治理结构侧重于制度安排,形成了利益关系者之间相互制衡的框架结构,是一种静态的治理方式；而财务治理机制则侧重于对治理有效激励约束等,形成协调委托代理关系的一种机制,是一种动态的治理方式。同时,针对虚拟企业的特点,分析出虚拟企业财务治理具有层次性、动态性、网络化特征。在此基础上,本章进一步探讨了星形模式和联邦模式的财务组织结构,以及共同财务决策机制、财务激励机制、财务约束机制等财务治理机制。第7章,虚拟企业财务制度安排的案例分析。本章透过案例,分析出虚拟企业财务制度安排的现状,并提出我国虚拟企业财务制度安排应注意的问题。本文的创新点主要体现在：创新一,从经济学、管理学、社会学的角度分析了虚拟企业的性质,这种多方位、多视角的分析有助于深刻理解虚拟企业的内涵,为研究虚拟企业财务制度安排奠定基础。创新二,借助新制度经济学的相关理论,系统、全面的梳理了财务制度安排的相关内容,并对企业财务制度安排的理论框架进行了一般性描述。在此基础之上,结合虚拟企业的特性,对财务制度安排基本要素的内涵进行理论拓展,进而提出虚拟企业“立体式”的财务制度安排框架。创新三,依据虚拟企业具有明显的生命周期性,将显性财务制度划分为酝酿期财务制度、组建期财务制度、运作期财务制度和解体期财务制度。这种划分有利于虚拟企业根据不同阶段的特点,制定不同的财务规范内容,从而提高制度安排的可操作性。创新四,扩展资本的内涵,并以资本泛化为基础,利用关系资本分析虚拟企业隐性财务制度安排。提出了维护虚拟企业关系资本的具体措施,有利于提升财务“软控制”的约束力,对虚拟企业财务制度安排具有现实指导意义。创新五,在财权配置的基础上,结合虚拟企业财务治理的特点,并以星形模式和联邦模式为例,说明虚拟企业财务组织的结构安排。按照所有权的安排逻辑,在界定虚拟企业内部财权关系的基础上,提出各个财务制度安排主体的权利范围,为虚拟企业财务制度的有效实施提供保证。更多还原

【Abstract】 The rapid development of information and computer network technology has brought a huge change to human’s production and life. Especially with the acceleration of world economic integration, the market competition increases day by day. More and more enterprises aware that it is difficult to grasp the rapidly changing market opportunities on their own internal resources integration. So they began turning their attention to external enterprises. Virtual enterprise, a means to effectively integrate external resources, aiming to enhance core competencies, becomes a real selection to adapt to economic globalization and the advent of network age.Virtual enterprise has advantage of rapidly exploiting product and meeting individual demand. Then virtual enterprise gradually enters our field and becomes the main research object of management scholars. After more than ten years of development, theory circle and practice circle discuss the relevant problems of virtual enterprise. But we still have not consensus on many questions. On the basis of literature that is grasped at present, how to constitute financial system of virtual enterprise have not studied yet. This paper analyses the financial questions of virtual enterprise and proposes its concrete financial institutional frame.The paper is organized as follows:Firstly, theoretical questions such as connotation, property, characteristics are analyzed. Secondly, theory structure of financial institutional arrangements is designed besed on the meaning of institutional arrangements. Then combining the characteristics of virtual enterprise, theory frame of its financial institutional arrangements is discussed. Finally, the concrete problems of virtual enterprise’s dominant financial system, recessive financial system, financial governance are offered.The paper consists of seven chapters, the prime contents and viewpoints proceed as follows:Chapter 1 is introduction. It presents the background, summarize, meaning, thinking and method of virtual enterprise’s financial institutional arrangements.Chapter 2 is annotation of virtual enterprise’s the theory. Firstly, it discusses the meaning and properties of virtual enterprise. Secondly, virtual enterprise’s characteristics which are different from traditional enterprises are educes. Finally, the organization characteristics are analyzed. On the basis of the core members’ quantity, virtual enterprise can be divided into three histological types:federation mode, star-like mode and parallel mode. This established the theoretical foundation of financial organization structure.Chapter 3 is theoretical foundation and content framework of virtual enterprise’s financial institutional arrangements. Firstly, on the basis of differentiating institution and institutional arrangements, annotation of financial institutional arrangements is studied. Secondly, theoretical foundation of financial institutional arrangements is analyzed from institutional economics and modern financial theory. This is the precondition of the whole paper. Then theoretical structure of financial institutional arrangements which constitutes with goal, essence, subject, object and hypothesis is put forward. Combining the characteristics of virtual enterprise, theoretical structure of virtual enterprise’s financial institutional arrangements is reconstructed. Finally, stereoscopic institutional arrangements framework of virtual enterprise is constructed.Chapter 4 is dominant financial system of virtual enterprise. The dominant financial system occupies the important position in the whole framework and it has stronger financial binding force. This chapter analyzes the principles which dominant financial system should be followed. Then according to the life circle of virtual enterprise, blueprint of financial system which constitutes with preparation phase, formation phase, operation phase and dissolution phase is sketched. Financial system of preparation phase mainly includes value evaluation system of market opportunity and expected income measure system. Financial system of formation phase includes financing system and investment system. Financial system of operation phase is the core of dominant financial system and it includes risk management system, interest distribution system, cost control system and performance appraisal system. Financial system of dissolution phase includes project termination system and liquidation system.Chapter 5 is recessive financial system of virtual enterprise. Recessive financial system is one of invisible norm and should be carried out consciously. Financial ethics is the foundation of the recessive financial system. It exhibits ethics ideas and ethics characteristics while combining and regulating various financial relations. According to different financial activities, financial ethics includes financing ethics, investment ethics and distribution ethics. Financial ethics of virtual enterprise emphasizes the coordination of the financial ethics. This paper considers that financial ethics of virtual enterprise is fostered by advancing distinguishing ability of financial ethics, establishing the supervision system of financial ethics etc. Virtual enterprise’s management is cross-cultural management. Financial culture can be formed custom that correspond financial management as informal restriction. Based on cross-cultural management, virtual enterprise should create financial cultural environment, set up cross-cultural personnel management mode and foster financial culture. In addition, in order to maintenance the relational capital of virtual enterprise, financial system should construct communication environment, pay attention to value relational capital, invest relational capital and avoid risk.Chapter 6 is financial governance structure and mechanism of virtual enterprise. Based on financial power relationship, financial governance forms balancing system which influences and constraint financing to standardize financial activities and treat with financial relationship. Based on financial rights allocation, the framework of financial governance includes financial governance structure and financial governance mechanism. Financial governance structure which is one of static governance manner emphasizes particularly on institutional arrangements; financial governance mechanism which is one of dynamic governance manner emphasizes particularly on the mode of incentive and restrain. Meanwhile, according to the characteristics of virtual enterprise, characteristics of financial governance are analysed. On this basis, this chapter has further probed into financial structure of federation mode and star-like mode and financial governance mechanism such as financial decision mechanism, financial incentive mechanism and financial constraint mechanism.Chapter 7 is case studies of virtual enterprise’s financial institutional arrangements. By analyzing the cases, this chapter summarizes the current situation of virtual enterprise’s financial institutional arrangements and puts forward the items that we should pay attention to.Innovations of this paper:(1) The properties of virtual enterprise are analyzed in terms of economics, management and sociology. This analysis of such multi-direction and multi-angle can comprehend the meaning of virtual enterprise and establish the foundation for studying virtual enterprise’s financial institutional arrangements.(2) By virtue of the relevant theories of institutional economics, relevant contents and theory framework of financial institutional arrangements are studied. Then combining the characteristics of virtual enterprise, stereoscopic institutional arrangements framework of virtual enterprise is constructed.(3) According to the life circle of virtual enterprise, dominant financial system includes financial system of preparation phase, formation phase, operation phase and dissolution phase. This kind of division is favorable to constitute financial content and improve the effectiveness of system.(4) Connotation of capital is extended. Based on capital generalization, recessive financial system of virtual enterprise is analyzed by relational capital. The paper puts forward the concrete measure to maintain relational capital, and this can promote the engagement.(5) Based on financial rights allocation, financial governance of virtual enterprise is analyzed. And financial structure of federation mode and star-like mode are designed.更多还原