Paper Introduction: the era of knowledge economy, objectively requires corporate financial officers must establish a new financial management concepts. Corporate finance executives only establish a 'people-oriented' thinking, the financial activities of the 'personification' to establish financial responsibility and rights of combining operational mechanism, strengthen the people's incentives and constraints in order to fully mobilize the people's enthusiasm, initiative and creativity This is a smooth and effective implementation of enterprise financial activities to achieve the fundamental guarantee of financial management objectives. The author believes that the current should be mainly from the following aspects, financial management mechanism innovation. Development of effective prevention, succeed against all kinds of risks and crises, financial management is an important need to continue to study problem solving.
Keywords: knowledge economy, financial management, innovation, research
The 20th century was from an independent financial management to improve the period. Financing management from the early 20th century, to World War II asset management (internal control of financial management); from the mid-1960s, investment management, financial management and then to inflation in the 1970s, and in the 1980s the international operations of the financial management of late, this Five leap of change, known as the fifth wave of development of financial management. Modern enterprise management activities, through effective forms of division and separation of powers, forming a system of specialized management. In this mode, some focus on logistics or human resources management, while others focused primarily on management in the form of cash flow. In short, the development of financial management theory and practice, is the result of an integrated financial management environmental effects, in the 21st century financial management is confronted with more complex social environment, will have a profound impact on an unprecedented study of Financial Management Theory.
First, the arrival of the challenges of the knowledge economy era of knowledge economy era Financial Management, objectively requires corporate financial officers must establish a new financial management concepts. Human wealth management concepts. Human development is the ultimate goal of human beings, who are the main driving force of development and ultimately experience who is developing, so the development of human self-referred to the centrality of economic and social development. Accordingly it can be seen, attention to human development and management concept is the basic trend of modern management development, the objective requirement of the knowledge economy. Each corporate financial activities were initiated by the people, operations and management, and its effectiveness also depends largely on how people's knowledge and wisdom as well as the efforts. Corporate finance executives only establish a 'people-oriented' thinking, the financial activities of the 'personification' to establish financial responsibility and rights of combining operational mechanism, strengthen the people's incentives and constraints in order to fully mobilize the people's enthusiasm, initiative and creativity This is a smooth and effective implementation of enterprise financial activities to achieve the fundamental guarantee of financial management objectives.
(A) quality setting and financial officers of most of the existing financial institutions seriously hamper the information, knowledge of financial With the advent of the knowledge economy, all economic activities must be fast, accurate and comprehensive information-oriented, digital technology information superhighway will enable enterprises transaction, decision-making information instantaneously, 'media space', 'Internet entity' to make room for economic activity is reduced, which determines the era of knowledge economy, corporate financial managers have a very strong professional knowledge and ability, a keen scientific information capabilities and the ability to finance the deal with acceptance. On the institutional settings, corporate finance sector should be less layers of management and middle-management staff, emphasize structure, sensitive, efficient and fast characteristics. This is the era of knowledge economy on the financial personnel, requires financial institutions far away, a serious impediment to the information, knowledge of financial management process.
(B) the existing financial management and the contents were not suited to the era of knowledge economy investment decisions need to factor in the economic growth of the traditional industrial economy is mainly dependent on plant, machinery, capital and other tangible assets, and in the era of knowledge economy, the structure of corporate assets Intangible assets proportion of patents, trademarks, goodwill, computer software, personnel quality, product innovation, knowledge-based will be greatly improved. The theoretical system of the existing financial management, and tangible assets related to the management of content more detailed perfect management involves less intangible assets.
(Iii) financial risk are important issues in financial management in the financial management of modern enterprises, it has been generally aware of the risk of financing and operating a financial risk, when investment returns and risks. However, knowledge-based economy will bring greater decision-making risk, inventory risk, development risk, currency risk, investment risk is consciousness, often not consciously to measure and prevent these risks. So how conscious awareness and effective prevention, against a variety of risks and crises, to enable enterprises to better development, is an important issue of the current financial management need to be studied and solved.
Second, the knowledge economy era of financial management needs innovation mankind is entering the era of knowledge economy. Free papers reference network. Knowledge-based economy in the traditional physical capital as the main content of the configuration structure changed into a knowledge-based capital allocation structure. In order to meet the requirements of the knowledge economy, financial management theory must be in a whole new way of thinking, develop a new theoretical vision, showing the traditional financial management and completely new features. The author believes that the current should be mainly from the following aspects, financial management mechanism innovation.
In the industrial economy, enterprise financial management is primarily based on material movement material capital movement, which mainly include physical capital raising, investment, recovery and distribution, as well as the daily management of physical assets. In the era of knowledge economy, knowledge capital will occupy a dominant position in the capital structure of the enterprise, thus it will become the main target of corporate financial management, and correspondingly, the content of financial management will also larger changes.
Intangible assets will become the focus of investment decisions. In the new capital structure, the proportion of intangible assets in the knowledge-based patents, trademarks, goodwill, computer software, personnel quality, product innovation will be greatly enhanced. According to statistics, the proportion of intangible assets in 1995 many US firms have been as high as 50% -60%. This indicates that the intangible assets in total assets as well as the proportion of the role can not be ignored, it will increasingly become a deciding The main assets and the market value of the future. Therefore, in the era of knowledge economy, intangible assets will become the most important, the most important investment. Which requires companies to adjust investment decisions old index, the establishment of investment in intangible assets to reflect their status and the results of the decision-making index system.
Risk management will become an important part of corporate financial management. Free papers reference network. In the knowledge economy, due to the impact of these and other factors, will allow businesses face greater risks: (1) dissemination of information processing and feedback speed will be greatly accelerated. If a disclosure of the enterprise's internal and external information is insufficient, untimely or enterprise management authorities from various internal and external information can not be timely and effective manner to select and use, will further increase the corporate decision-making risk. (2) the accumulation of knowledge, updating speed will be greatly accelerated.
If a company and its employees can not adjust their knowledge with the knowledge of structural changes in society and its structure accordingly, will be in a passive position, it can not adapt to changes in the development environment, which will further increase the risks. (3) product life cycle will continue to shorten. Like electronics, computers and other high-tech industries, a shorter life expectancy of their products, it will not only increase the inventory risk, but also increase the product design, development risks. (4) 'media space' unlimited scalability, and the rise and 'electronic money' appear 'online bank' so that the international capital flows accelerated capital decisions can be completed in an instant, making the shape of a qualitative change in the currency, These are likely to further exacerbate the currency risk. Free papers reference network. (5) Intangible assets invested speed changes, unlike traditional investments, as can be clearly divided into the period and phase, so that further increase the risk of investment. So, how to pursue continuous innovation and development of effective prevention, against a variety of risks and crises succeed, financial management is an important need to continue to study problem solving. Owner of human capital will become participants in the distribution of profits after tax. In the knowledge economy, human capital will become the most important resource for companies and the whole social and economic development, is to determine the distribution of social wealth is the most important factor, the modern worker is a knowledge-based workers, they become employees, actual It is to bring the human capital. Brought from surplus value can speak, physical capital appreciation from capital, human capital is more than physical capital appreciation. In China, a socialist country, workers have become masters of the means of production, the right to participate in enterprise management, the right to participate in after-tax profit distribution.
Capital Value Index reflects the knowledge will be an important part of enterprise financial evaluation system. Intellectual capital is reflected in the difference between the market value and book value. With the advent of the knowledge economy era, whether it is relevant stakeholders enterprise management authorities, or corporate investors, creditors, customers and so on, must be an indicator of great interest and importance to the value of intellectual capital. Otherwise, they will have some valuable company may underestimate the value, but also likely to see some of the prosperity of the company in a potential crisis, leading to wrong decisions, resulting in unnecessary losses.
Third, knowledge of Financial Management Innovation Significance financial management innovation is an enterprise financial management in the realization of a progressive accumulation due to influence and change the relevant factors to achieve a qualitative leap mutation. Inheritance and innovation alternating process of evolution, is to generate new business formation process of financial management. In fact, corporate financial management innovation is a more effective and the introduction of new financial management or business methods have not yet been adopted. Respond to the knowledge economy era, comprehensive innovation theory and practice of financial management is of great practical significance.
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