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《Commercial Research》 2004-19
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On Principal-agent Theory

DAI Zhong-liang(School of Economics, Sichuan University,Chengdu 610064,China)  
The principal-agent theory is a vital part of the enterprise theory, and principal-agent problem is also a hit in the reform of state-owned enterprises. The core of the theory is to reduce the agency cost caused by two factors:asymmetric information and interests conflict between principals and agents. For reducing agency cost,there are two different approaches: Empirical agent theory and Principal-agent theory. Both theories have their different characteristics and effects.
【CateGory Index】: F270
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