一、监督缘何必要?——一个学理层面的解说 按照制度经济学的通常理解,现代公司企业的产生和发展是对市场价格机制取代的结果。为降低交易成本(主要是发现市场价格机制的成本),市场中的理性投资者选择了公司这种使得交易成本最小化的经济联合形式。但是另一方面,公司企业的出现在降低交易成本的同时又必然会带来公司内部组织成本的增加——因此,公司企 I. Why Supervision Is Necessary? - A Theoretical Interpretation According to the usual understanding of institutional economics, the emergence and development of modern corporate enterprises are the result of the substitution of market price mechanisms. In order to reduce transaction costs (mainly by finding the cost of market price mechanisms), rational investors in the market have chosen the company as an economic union that minimizes transaction costs. However, on the other hand, the emergence of corporate enterprises reduces the transaction costs and at the same time inevitably brings about an increase in the internal organizational costs - therefore, corporate enterprises