One of the most outstanding characteristics of modern corporations is the separation of ownership and management. 现代企业的一个显著特点是所有权与经营权的分离。
The separation of ownership and management is an advantage in many cases, but may be a disadvantage in others. 所有权和管理权相分离在许多情况下是一个优点,但在其他方面就是一个缺点。
Reform in Separation of Ownership and Management and Problem of Income Distribution in Chinese Enterprises; A Research on Ownership Structure Optimization and Corporate Governance Improvement ofter the Split-share Reform 中国企业两权分离的深化改革及收益分配论股权分置改革后的股权结构优化及其公司治理的改进
Separation of ownership and management. 所有权和管理权相分离。
With the separation of ownership and management, there comes out information asymmetry and subsequently the problem of agency costs. 随着所有权与经营权的分离,产生了信息不对称问题并随之出现了代理成本问题。
The traditional principal-agent theory refers to the unit principal-agent theory, which is mainly applied to the corporate governance in the private companies with the separation of ownership and management. 传统意义上的委托代理理论是指单重委托代理理论,主要用来分析以私有产权和私有制为基础的公司制企业在经营权和所有权分离的背景下产生的公司治理问题。
The typical characteristic of modern commercial bank is the separation of ownership and management. 现代商业银行的典型特征是所有权与经营权的分离。
And the main characteristic of modern corporate is the separation of ownership and management power, appearing principal-agent relationship. 现代公司主要的特征是所有权与经营权相分离,产生了委托&代理关系。
An important feature of modern enterprise system is the separation of ownership and management. Separation of the power has led to principal-agent problems. 现代企业制度一个重要的特征是所有权与经营权的分离,两权的分离导致了委托代理问题的产生。
The emergence of corporate governance is the result of changes in enterprise system. One of the most essential characteristics of modern enterprise system is the separation of ownership and management rights. 公司治理的出现是企业制度变革的结果,现代企业制度最本质的特征之一是所有权和经营权分离,两权分离的公司制催生了公司治理。
The prominent feature of modern publicly-owned corporation is separation of ownership and management, giving rise to principal-agent relationship. 现代公司制企业最显著的特征是公司所有权与经营权相分离,由此导致了委托-代理关系的产生。
Along with the build of modern enterprise system and the further separation of ownership and management of the enterprise, As interest of owner and manager of the enterprise is inconsistent, the agency cost caused by has became one of the largest obstacle in developing the company. 随着现代企业制度在我国的建立以及公司所有权和经营权的进一步分离,由于公司所有者和高管利益不一致产生的代理成本已经成为阻碍公司健康发展的主要障碍之一。
Separation of ownership and management lead to the principal-agent theory. 现代公司制度下所有权和经营权的分离产生了委托代理理论。
The separation of ownership and management authority in the modern enterprise system will inevitably lead to information asymmetry between the owners and the managers. 现代企业制度的两权分离必然导致所有者和管理者之间的信息不对称,委托人和代理人之间的信息不对称会出现代理问题,产生代理成本。
After the separation of ownership and management, study on agency conflicts around principal-agent theory is enriching and extending gradually. 所有权与经营权分离后,围绕委托代理理论对代理冲突的研究不断进行了丰富和扩展。
After the election of the modern corporate system, due to the separation of ownership and management problems led to the production agency, which conducted the research has gradually become the focus of corporate governance theory. 现代公司制度产生后,由于所有权与经营权的分离导致了委托代理问题的产生,对此进行的研究也逐渐成为公司治理理论的重点。
To solve the problem of interests of the inconsistency between executives and shareholders which are caused by the separation of ownership and management, the enterprise seeks all sorts of incentive mechanism and constraint methods of which the most important is the incentive mechanism of executive stock options. 所有权与经营权的分离造成了经理与股东之间利益的不一致性问题,为了解决这一问题,企业寻求各种激励机制和约束方法,其中最重要的一种方法就是经理股票期权激励机制。
The separation of ownership and management in the modern enterprise results in the principal-agent problem, which is the essential cause of corporate governance issues. 现代企业中所有权与经营权的分离产生了委托-代理问题,委托&代理问题是公司治理问题产生的本质原因。
Shareholders 'contribution is a fundamental problem in the system of the company, which is the key to the separation of ownership and management rights in the company' sorganizational structure. 股东出资是公司制度中的一个基本问题,是公司组织结构中所有权和经营权分离的关键。
On the other way, the separation of ownership and management of modern enterprises, make the enterprises form two control subjects, namely owner and operator. 与此同时,现代企业所有权和经营权的分离,形成企业中客观存在的两个控制主体,即企业所有者和受托经营者,这也使得企业在逃税决策的制定过程中存在双元控制主体。
In fact, the separation of ownership and management will inevitably lead to the emergence of this phenomenon. 事实上,所有权与经营权相分离必然会导致这种现象的产生。
With the establishment of corporative enterprises, the gradual separation of ownership and management causes agency problems. 伴随着公司制企业的建立,所有权与经营权逐渐分离,代理问题由此产生。
The separation of ownership and management rights already became an important characteristic of modern enterprises, this "two rights separation" between the shareholder and the operator has formed a kind of principal-agent relationship. 所有权与经营权相分离是现代企业的一个重要特征,而这种两权分离使股东与经营者之间形成了委托&代理关系。
The operation of the modern corporate system generally pursue the principle of separation of ownership and management, directors and other senior management staffs obtain the absolute administration authority upon the internal affairs of the company. 现代公司制度的运作普遍奉行所有权与经营权分离的原则,董事和其他高级管理人员获得了对公司内部事务的排他性管理权。
The so-called corporate governance is to resolve the question which in the separation of ownership and management, the owners faced with the question of incentive and control. 所谓公司治理结构解决的是在所有权与经营权分离的情况下,所有者面临的激励和控制问题。
Hyundai mechanism, the separation of ownership and management led to the generation of principal-agent problem, which determines the need to establish an incentive mechanism so that the behavior of the operator selection and convergence of the interests of shareholders. 现代公司机制下,所有权与经营权的分离导致委托代理问题的产生,这就决定了必须建立一种激励机制,使经营者的行为选择与股东的利益趋同。
The characteristics of modern enterprises is separation of ownership and management rights. This poses a problem of agency costs. 现代企业的特征是经营权和所有权相分离,这使得企业和经营者之间产生了代理成本的问题。
The characteristic of current company governance is the separation of ownership and management That brings out agency problem. 现代公司治理结构的重要特征是所有权和经营权相分离。两权分离带来了长期困扰现代公司的委托代理问题。
The company independent personality system design of the property of the separation of ownership and management become possible. 公司独立人格制度的设计使财产所有权和经营管理权的分离成为可能。