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现代企业制度所具有的经营权与所有权“两权分离”的特征促进了经济与社会的发展,使职业经理人员和投资者各得其所,为社会化大生产提供了源源不断的人力资源和财力资源,造就了一批优秀企业家。但正是在两权分离的情况下,委托人与代理人追求目标的不一致性及委托代理过程中非对称信息的存在,导致现代企业制度的组织缺陷——代理问题浮出水面。为了保证最大限度地降低公司治理的“代理成本”,实现企业价值和股东财富的最大化,提高单个公司和整个经济运作的质量及其
The characteristics of the “separation of powers and rights” between the management right and the ownership of the modern enterprise system have promoted the development of economy and society, provided professional managers and investors with their own resources and provided a steady stream of human and financial resources for socialized mass production. Created a number of outstanding entrepreneurs. However, under the circumstance that the two rights are separated, the inconsistency between the client and the agent in pursuing the goal and the existence of asymmetric information in the principal-agent process lead to the organizational defect of the modern enterprise system-the agency problem emerges. In order to ensure that the “agency costs” of corporate governance are minimized, the maximization of corporate value and shareholders' wealth is achieved, the quality of individual companies and the economy as a whole is enhanced, and