{"title":"On Principal-agent Theory","authors":"Dai Zhong-liang","doi":"10.4135/9781608712434.n1258","DOIUrl":"https://doi.org/10.4135/9781608712434.n1258","url":null,"abstract":"The principal-agent theory is a vital part of the enterprise theory, and principal-agent problem is also a hit in the reform of state-owned enterprises. The core of the theory is to reduce the agency cost caused by two factors:asymmetric information and interests conflict between principals and agents. For reducing agency cost,there are two different approaches: Empirical agent theory and Principal-agent theory. Both theories have their different characteristics and effects.","PeriodicalId":311959,"journal":{"name":"Commercial Research","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125993243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}