The Concept Framework and Configuration Logic of Financial-right

Abstract

Financial-right and property right are closely related but they two should belong to two different levels. Financial governance right is the right-balancing relationship between financing agents in the process of financial right segmentation from the level of corporate governance.And financial control is established on the basis of the incomplete contract theory,but financial control has several different meanings because of the importance of ,the distinction between narrow and broad senses of decision-making power,and the power implementation process etc. Financial-right configuration follows the basic principles of contribution and risk-taking and is the centralized and decentralized symmetrical arrangement of residual claim and residual control under the co-restriction of knowledge cost and agency cost.