An Empirical Research on the Status and Role of Listed Companies' CFO in Corporate Governance UNE RECHERCHE EMPIRIQUE SUR LE STATUT ET LE ROLE DU CFO DES SOCIETES COTEES DANS LA GOUVERNANCE DE LA SOCIETE

Zhang Hualun, Gao Tao
2006 Canadian Social Science   unpublished
Based on the related information disclosed in the annual report of SSE A-share, this paper makes an empirical analysis of the status and role of CFO in corporate governance. The result indicates that the status of CFO is low in corporate governance, and CFO still plays a traditional role. The result also demonstrates the main factors that determine the status and role of CFO are personal status and seniority. As a result, effective measures must be adopted to enhance the status and role of CFO
more » ... us and role of CFO from the perspective of corporate governance. Résumé: A partir des informations révélées dans le rapport annuel de l'action-A de la SSE(Shanghai Stock Exchange/Bourse des valeurs de Shanghai), l'article présent procède à une analyse empirique du statut et du rôle du CFO(Chief Financial Officer) dans la gouvernance de la société. Le résultat montre que le CFO jouit d'un statut bas dans la gouvernance de la société et joue encore un rôle traditionnel, et que les facteurs déterminant son statut et rôle sont ses statut personnel et ancienneté. A cet effet, des mesures effectives doivent être adoptées pour hausser le statut et le rôle du CFO dans la perspective de la gouvernance de la société. Mots-Clés: CFO, gouvernance de la société, sociétés cotées Modern corporate governance centers around financial governance, and its goal, to a large extent, is achieved through such kind of governance. As the person of the highest level responsible for the corporate's finance, CFO plays a very important part in the governance. Seen from the traditional financial role of CFO, he or she controls the accounting of the company and its organization as well as the cash and long term investment, thus he or she is the one who could coordinate the company's financial resources. 3 Seen from the responsibilities in the corporate governance system, CFO has undertaken the responsibilities concerning managing, law, governance, morality, management, and the responsibilities internally entrusted to the share holders and those externally to the board. 4 With the global development, CFO will function as a manager of strategic plans, resources, achievement evaluation, flow system and controlling, 5
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