agency costs 中文意思是什麼

agency costs 解釋
代理費
  • agency : n. 1. 動作，作用；行為；動力，力量；媒介。2. 經辦，代理，代辦；代銷處。3. 機構；（黨、政）機關，廳，局。4. 〈美國〉印第安人事務局（＝ Indian agency ）。
  • costs : 訟費
  1. Accounting choice is determined to influence one or more of the firm ' s contractual arrangements. such contractual arrangements include executive compensation agreements and debt covenants, the primary function of which is to alleviate agency costs by better aligning the incentives of the parties. however, depending on the structure of these contracts, ex post accounting choices may be made to increase compensation or to avoid covenant violation

    事實上，企業賴以生存的利益相關者不僅僅包括經理人員和股東，債權人、員工、供應商、消費者、政府等，也與企業的利益緊密相關;顯然，科斯企業理論及其以後的發展，對企業的認識存在著一定的局限性， 「公司是由持有該公司普通股的個人和機構擁有」的傳統觀點過于狹隘。
  2. The slight drop in profit contributed from the logistics operation for 2006 is mainly attributable to the costs incurred in the setting up of 17 freight forwarding offices in europe and australia, as well as the loss of businesses resulting from the termination of the previous agency operations in these countries

    二零零六年的物流業務盈利則較二零零五年輕微下跌，主要原因是部門于年度內在歐洲及澳洲共設立了17個新的貨運營運點所需成本，以及結束此等國家原有的理業務時招致的生意損失所致。
  3. The general lack of confidence in private enterprises causes the authorization and the empowering acts to have high agency costs

    社會普遍信任度的不足使民營企業的授權、放權存在著極高的代理成本。
  4. The employer pays the costs fo travel directly to the travel agency

    如僱主直接將旅遊費用支付給旅行社。
  5. Because the managers cannot own 100 % power of asking for surplus ( that is to say, sharing the firm ’ s profits and undertaking limited duty according to the proportion ), they are to run for extra consumer allowance instead of going all out to make full use of the firm ’ s resources like complete owners, so it leads to the agency costs of financing by equity

    因為管理者不能擁有100 %的剩餘索取權（即按比例地分享企業利潤和承擔有限責任） ，他們就會追求額外的消費津貼，而對企業資源的利用不會像完全所有者那樣竭盡全力，從而產生股權融資的代理成本。
  6. Jensen ， m and w meckling. 1976 theory of the firm ： managerial behavior ， agency costs and ownership structure. journal of financial economics ， 3

    伯格洛夫. 1995 .轉軌中的公司治理結構:及其政策含義.見:青木昌彥和錢穎一.轉軌經濟中的公司治理結構? ?內部人控制和銀行的作用[ m ] .北京：經濟出版社， 73 - 112
  7. Analyze the effect of the entrepreneurs " marginal productivity, leisure preference and the difficulty to monitor entrepreneurs on the agency costs. 5. given the entrepreneurs different preference, we analyze the effect of the material incentives and the spiritual incentives

    利用委託代理理論對激勵監督機制問題進行研究，在對稱信息和非對稱信息條件下研究了企業的最優激勵合同與最優監督水平，分析了企業家的邊際生產率、閑暇偏好、努力成本和企業所有者對企業家的監督難度對代理成本的影響。
  8. The enterprises of aerospace industry are wholly state - owned, they have not only the common characteristics of soe for instance the agency risk and the principal risk, but some particular, for example particular capital structure and because of the income from nation according with the costs of the present products, in order to get more dollars from nation finance ministry, the aerospace enterprises try their best to increase the costs and expenses of their products

    航天系統的組織結構是以研究院為母公司，以研究所、工廠為子公司的科研生產聯合體。它們屬于國有企業，具有國有企業一般特點，又具有自身的特殊性，例如特殊資本結構；以成本為基礎的合同誘使成本最大化成為企業經營目標；經營成果核算具有較大彈性以及軍品采購過程缺乏明確的成本費用目標等等。
  9. In this part, the definition and the basic theory of financial lease and the tax policies of foreign financial lease are concisely discussed. first, the theory of tax difference, the theory of debt substitutability, the theory of agency costs and the bankrupt costs as well as the documents reviewed, are made as the theory basis of the paper. secondly, some inspirations have been drawn by reviewing the tax policies of financial lease of the west, from which the paper received some instructive proposes for chinese financial lease

    這部分對融資租賃的定義，融資租賃基礎理論及國外融資租賃稅收政策三個方面做了簡要評述，其中， （ 1 ）稅率差別理論、債務替代理論、代理成本和破產成本理論及對文獻的回顧為本論文研究奠定了理論基礎； （ 2 ）在對歐美西方經濟發達國家融資租賃稅收政策的簡要評述中得到的啟示，為本論文研究我國融資租賃相關的稅收政策的建議提供了必要的借鑒。
  10. This paper takes sinopec as an example for empirical study in respect of various issues after implementation of sars including corporate earnings, governance, management agency costs and stock market reaction

    本文以中國石化為研究對象，對實施股票增值權計劃后的公司財務績效、治理機制與管理層代理成本、股票市場反應等作了實證檢驗。
  11. Agency costs arise whenever economic agents enter into contracts in a world of incomplete information and thus costly information collection

    代理損失產生於當經濟代理人在無法獲得全面信息履行合同時所產生的信息收集損耗。
  12. On the basis of deeply comprehending, the thesis considers the internal cause of cb financing is to decrease many types of financing costs in the status of asymmetric information. so, creatively and systematacially, we divide them into agency costs, under - pricing and financial distress costs and risk uncertainty costs. by using two models and existing evidences, the thesis then discusses the relative advantages and appropriate firm ' s characteristics of cb financing

    基於對可轉換債券融資原因的深入理解，本文認為公司應用可轉換債券融資的內因在於減輕信息不對稱狀態下的多種融資成本，創造性和系統性的將之分為代理成本、價值低估及財務危機成本和風險不確定性成本三大方面，應用兩個模型的論述，輔以已有的實證結果，詳細論述了可回購可轉換債券融資的相對優勢和適用公司特徵。
  13. This paper researches the correlation of stock - right structure and agency costs by means of canonical correlation analysis. the result shows that from the point of view of stock - right structure, the degree of stock - right concentration and degree of stock - right restriction are the main factor of influencing agency costs

    本文運用典型相關分析的方法對股權結構與代理成本各指標之間的關系進行了實證研究，實證研究表明從股權結構角度考慮，股權集中度與股權權衡度是影響代理成本的主要因素。
  14. Jensen, michael c., agency costs of free cash flow, corporate finance, and takeover, american economic review, may 1978

    汪平著， 《財務估價論? ?現金流量與企業價值研究》 ，上海財經大學出版社， 2000年第1版。
  15. The first category of market imperfections stems from the presence of agency costs and the absence of complete markets ( otherwise, one could solve the agency problem through state - contingent contracts )

    上市公司的首次發行（ ipo ） 、股票定價、配股和特別處理（ st ）等事件都體現出會計政策選擇的特別作用。
  16. It can change the structure of the enterprises. many enterprises have practiced mbo recently. the goal of mbo in china enterprises is to play active roles of mbo in such aspects as clearing state - owned enterprise property right, decreasing agency costs and as the same time mbo is a way for state - owned capital secede

    我國引入mbo與我國國有企業的改革密不可分，通過mbo可以改善公司產權結構，明晰產權，減少國有企業較高的代理成本，同時它也是一種較好的國有資產的退出方式。
  17. Reward contract and agency costs on comparative performance information

    基於相對業績比較的報酬契約與代理成本分析
  18. With the separation of ownership and management, there comes agency relationship. there are agency costs because of the different benefits and the asymmetric information between the owner and the manager

    在現代公司制企業中，由於所有權和經營權發生分離，從而在公司股東和經理層之間產生了「信息不對稱」這一客觀事實。
  19. With the separation of ownership and management, there comes agency relationship. there are agency costs because of the different benefit and the asymmetric information between the owner and the manager

    隨著所有權與經營權的分離，產生了委託?代理關系，由於所有者與經營者利益的不一致、信息的不對稱，導致了代理成本的產生。
  20. Though it can reduce the above - mentioned agency costs to finance by debts, another type of agency costs is to come up. as the managers have the power to own the surplus, they will have the incentive to pursue the investment projects with high risks and high gains. they can acquire the profits of the projects when it succeeds and leave risks to the creditors

    舉債融資雖然能減輕管理者的上述代理成本，但它本身又會產生另一種形式的代理成本，即管理者作為剩餘權益所有者，他就有動機從事高風險、高回報的投資項目，因為他可以獲得項目成功后的利潤，而把風險留給債權人。
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