一、第四类代理成本的概念及其存在的基础第四类代理成本是所有者与受托的监督者之间利益冲突与博弈中企业总价值的减少。从数量上看,第四类代理成本为所有者聘请专职监督机构和监督人员的费用与所有者不聘请专职监督机构和监督人员、自己直接从事监督所耗费用之间的差额。在性质上,第四类代理成本属 First, the concept of the fourth type of agency costs and the basis for their existence The fourth type of agency costs is the conflict of interest between the owner and the entrusted supervisor and the reduction of the total value of enterprises in the game. In terms of quantity, the fourth type of agency cost is the difference between the cost of engaging the full-time supervisory authority and the supervisory staff by the owner and the cost incurred by the owner of not hiring the full-time supervisory authority and the supervisory staff and directly supervising the supervisor. In the nature of the fourth type of agency costs