Game Theoretic Models of Enterprises Financing

In order to examine the relationship between an original shareholder and a possible investor in the enterprises financing, two game theoretic models are used in this paper. Theories and methods of optimization are introduced to analyze the models. The results show that either the original shareholder´s shares percentage or the possible investor´s investment has a reasonable upper bound, an enterprise may obtain more investment if the original shareholder reduces his percentage of shares properly, and the original shareholder tends to play a cooperative game, while the possible investor tends to play a noncooperative game if the total earnings are distributed between the two players according to the percentages of shares. The two models discover the two players´ relationship effectively, and the results are helpful to real problems.