Of Improvement on Stakeholder-Based Corporate Financial Analysis in the Emerging New Context

摘要

The ultimate goal of a corporation's financial analysis is for stakeholders to measure its financial performance, that is, to evaluate its status quo and predict its future development in financial terms. Traditionally, corporate performance has been measured mostly from four perspectives, which are debt-paying ability, operation efficiency, profitability, and development capacity. These four aspects might reflect, to a certain extent, a firm's financial status, operational achievement, capital efficiency or future development, and thus presumably might suffice to meet stakeholders' demands for accounting information. However, with China's increasing emphasis on such concepts as environmental protection, livelihood issues, stable and harmonious development etc, the term 'stakeholder' is now used more often in a broader and richer sense and stakeholders tend to concern themselves with their corporations in a more comprehensive way. Therefore, it may be assumed that the traditional financial analysis system has failed to adapt to the emerging new context and should be improved at a proper time with a view to the fact that more and more stakeholders are now expecting an all-round evaluation of the corporations.