【正文】 nt is reasonable, whether the technology is advanced, production and marketing is smooth, the enterprise can quickly be reflected in financial indicators. About financial management originated in the late 15th and early 16th century. The Western capitalist society is in the embryonic period, the Mediterranean coast, many mercial cities in the shares of business anizations from the public, shares of the shareholders merchants, kings, 大連交通大學(xué)信息工程 學(xué)院 2021 屆本科生畢業(yè)設(shè)計（論文）外文翻譯 6 ministers and members of the shares the objective of economic development for panies a reasonable forecast capital requirements, effectively raising capital. However, when the business is not large capital requirements, financing channels and relatively simple means of financing, corporate financing is only attached to the business management and financial management have not formed an independent career, this situation continued until 19 turn of the 20th century. The late 1970s, the deepening financial management into a new period of development, and toward the international, precision, puterized, workoriented development. The late 1970s and early 1980s, the Western world generally face a protracted inflation. Lead to largescale funds used continuous rapid rise in inflation, financing costs as interest rates rise, devaluation of securities, corporate financing more difficult, the pany inflated profits, capital loss seriously. Serious inflation to the financial management of a series of unprecedented problems, so this period of financial management, the main task is to deal with inflation. Inflation, financial management became a hot issue. Since the late 1980s, foreign trade financing, foreign exchange risk management, international transfer pricing issues, international investment analysis, performance evaluation and other multinational financial, financial management, to bee a hot research, and resulting in a new branch of finance International financial management. International Financial Management branch of modern finance. In the late 1980s, Latin America, Africa and Southeast Asia into a heavy debt crisis in developing countries, former Soviet Union and Eastern European countries political instability, economic verge of collapse, the . experienced a trade deficit and budget deficit, trade protectionism once prevailed. This series of events led to the international financial market turmoil, the investment and financing environment, enterprises are facing a high degree of uncertainty. Therefore, the enterprises in their financial decisionmaking in the increasing emphasis on financial risk assessment and avoidance, the result, utility theory, linear programming, game theory, probability distributions, simulation techniques and other quantitative methods in financial management in the application of increasing. Financial risks and financial forecasting, quantitative decisionmaking has been attached. With mathematical methods, applied statistics, optimization theory and puter and other advanced methods and tools in the application of financial management, corporate finance management theory took place in a revolution. Financial analysis to the precise direction of rapid development. The birth of 80 years of financial management information system. Since the mid1990s, puter technology, electronic munication technology and work technology is developing rapidly. Financial management of a great revolution the work of financial management, has quietly e. 大連交通大學(xué)信息工程 學(xué)院 2021 屆本科生畢業(yè)設(shè)計（論文）外文翻譯 7 Financial management system, main elements: science of modern financial management. Pine consulting according to the actual situation and the market needs to take financial management, information management and other methods, focusing on corporate economic forecasts, estimates, balance, and get management bined with business needs. the market development. All the objectives, methodology to be achieved through the market, the market is a place where survival of the fittest, to understand the market development is extremely important. accounting information. Corporate accounting data and information is the reproduction of corporate history, after finishing these data and information, calculation, analysis, with considerable reference value. credit system. Requirements of specific operations and implementation of socioeconomic operation in the lawabiding, strict practices and rules to establish an honest, reliable reputation, never allow the slightest ambiguity, because the level of business integrity for enterprise development and decline withtremendous impact. The basic theory of financial management: structure theory (Capital Structure) Capital structure theory is to study the structure of corporate financing and the relationship with the pany39。s market value theory. In 1958 Modigliani and Miller39。s study concluded that: in perfect and efficient financial markets, the enterprise value and capital structure and dividend policy has nothing to do MM theory. Miller was due to the MM theory Nobel Prize in Economics in 1990, 1985 won the Nobel Prize in Economics. Portfolio Theory and Capital Asset Pricing Model (CAPM) Modern portfolio theory is the theory of optimal portfolio. 1952, Markowitz (Harry Markowitz) proposed the theory, his research concluded that: as long as changes in ine between the different assets are not pletely correlated, we can invest in ways to reduce portfolio risk. Markowitz in 1990, this was the Nobel Prize in Economics. Capital asset pricing model is to study the relationship between risk and return theory. Sharp and others study concluded that: the risk of individual assets return riskfree rate of return on market portfolio yield and the risk of risk , in 1990, Sharp received the Nobel Memorial Prize. pricing theory (Option Pricing