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:, 21 P L,, 11, 4 8,,32 3 90 %, 38 %(,2002),, ( F E,2002),,,,, : [1 ][],, 1 [M]1 :,20011 [2 ][] 1 [M]1 :, 19991 [3 ] F, E 1 [M]1 :,20031 [4 ], 1 [M]1 :,20021 [5 ][]AI 1 [M]1 :,20011 [6 ][] 1? [M]1 :,20011 [7 ][]S, F 1EVA [M]1 :, 20021 [8 ][] 1 [M]1 :,20021 [9 ][], 1 [M]1 :,20021 [10 ][], 1 [M]1 :,19981 [11 ][]1 [M]1 :, 20001 [12 ]1 [M]1 :,20021 [13 ],, 1 [M]1 :,19981 [14 ] 1 :[M]1 :, 143
2004 10 20001 [15 ] 1 [M]1 :, 19951 [16 ]1 [M]1 :,19991 [17 ] 1 [M]1 :,20001 [18 ],1 [J ]1,1998, (3) 1 [19 ],1 [J ]1,2001, (3) 1 [20 ]1 [J ]1,2002, (4) 1 [21 ]1 :[J ]1,1996, (6) 1 [22 ], 1 [J ]1, 2003, (1) 1 [23 ],1 [J ]1, 2003, (1) 1 Orientation of Corporate Value and Evolution Trend LI Xin2he ( Department of Accountancy, Nanjing University, Nanjing 210093, China) Abstract :From history and reality, there exist two modes for the orientation of corporate value : share2holder value orientation, which is based on the capital power theory and the theory of integrating the share2holder interests with social interests ; and the value orientation of people with related interest, which is based on shared owner2 ship theory, intrust responsibility theory and the theory of corporate responsibility for the society. Historically, the mode of the orientation of corporate value is experiencing the evolution from share2holder value orientation to the value orientation of people with related interest. In the background of globalization, these two orientations of corporate value are blending, with orientation of corporate value as the main stream. Key words :corporate value ; share2holder value orientation ; the value orientation of people with related interest ; globalization 144