一、经营者激励约束机制的理论基础和实践问题自从罗纳德·科斯发表《企业的性质》一文,经济学便越来越关注委托代理关系。代理理论所要探讨的是,如何在委托人与代理人之间进行利益分配及风险配置,如何使代理人尽心尽力地工作。企业所有者与经营者之间的关系就是一种典型的委托代理关系,代理理论的研究对于如何建立有效的经营者激励约束机制具有重要的 First, the theoretical basis of incentive and restraint mechanisms and practical issues Ronald Coase published “the nature of the enterprise,” economics will pay more and more attention to the principal-agent relationship. The theory of agency is to discuss how to distribute the agent and the risk between the principal and the agent and how to make the agent do its best to work. The relationship between business owners and managers is a typical relationship of principal-agent, and the research of agency theory is important for establishing effective manager incentive and restraint mechanisms