Briefly describe the development course of western corporate finance.

A: The development of corporate finance has gone through three stages: financing company financing stage, internal control company financing stage and investment management stage. In the financing stage of fund-raising companies, the main function of corporate financing is to predict the amount of funds needed by the company and raise the required funds. At this stage, corporate finance comprehensively studies the influence of external factors on fund-raising activities and the financial problems involved in company merger, bankruptcy and liquidation from the outside of the company. Corporate financial internal control is an important stage of corporate financial development. The main function of this stage is to carry out effective internal control of enterprises and manage and make good use of funds; The main theoretical problem is the internal financial decision-making of enterprises. In the stage of investment management, investment management has received unprecedented attention.