With the analysis under the incomplete contract theory and principal-agent theory, there is no such an optimum governance structure for open-end fund either contract style or corporate style. 从不完全契约理论和委托代理框架的视角分析开放式基金治理结构,可以得出不存在最优的治理结构的结论。
Open-end fund is the fund shares are not fixed, fund shares may be carried out in the time and place of the fund contract to purchase or redemption. 开放式基金是指基金份额不固定,可以在基金合同约定的时间和场所进行申购或者赎回的一种基金运作方式。