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委托-代理理论对于建立完全契约,防治机会主义行为具有重要意义.讨论了三种参数化的委托-代理模型,通过比较分析得出:在委托代理契约中,若代理人在职消费的信息以及所有公司平均净资产报酬率的信息能体现在契约条款中,并以现金为基础来评价代理人的经营业绩,则代理契约的完全程度将增加,其激励程度也将增强,代理成本将降低.但所有公司的平均净资产报酬率是一个公共信息产品,只有政府提供才具有权威性.因此只要政府提供了相关的公共信息产品,完善了相关的制度环境,最佳完全契约是可以实现的.
The principal-agent theory is of great significance for the establishment of complete contract and prevention and control of opportunistic behavior.Three kinds of parametric principal-agent models are discussed.According to the comparative analysis, if the agent’s in-service consumption information and all The average return on net assets of the company can be reflected in the terms of the contract, and based on cash to evaluate the operating performance of agents, the agency contract will increase the degree of completeness, its incentive will also increase, agency costs will be reduced. The average return on net assets of all companies is a public information product, which is only provided by the government, so as long as the government provides relevant public information products and perfects the relevant institutional environment, the optimal total contract can be achieved.