【摘要】 从 2 0世纪 6 0年代末 70年代初开始 ,企业理论的重要分支———委托代理理论取得了快速发展。它以不同于新古典的视角深入到企业内部 ,探讨在信息不对称情况下企业内委托人和代理人之间的激励合约的特点。经济学家通过这个框架很好地分析了信息不对称给委托人和代理人之间的资源配置带来的影响 ,而这正是以往理论无法回答的问题。当然 ,该分析方法的“一阶化”处理技术仍然有缺陷 ,同时解释面太窄也使该方法受到批评更多还原

【Abstract】 Deputation theory, an important branch of business enterprise theory, has obtained a rapid development since late 1960s and early 1970s. It takes a different perspective from the neoclassicals into the internal of business firms to explore the incentives and contractual features that exist between the directors and trustees with asymmetric information. Economists did a good job in analyzing the impact of the information asymmetry on the resource allocation between business directors and their trustees, which cried for an answer in the past. Of course, the "first order" treatment of the analysis is by no means without flaw and its narrow adaptiveness is also being criticized.更多还原