NBA球队的产权制度特征

Characteristics of property rights of NBA teams

NBA联盟取得巨大成功的一个重要的原因就是球队拥有高效率的产权制度安排。分析认为NBA球队产权制度安排的主要特征是:球队股权集中,大股东控制明显;球队股权相对稳定,其产权的转让受到一些限制;球队大多采用委托代理的形式进行管理,代理成本较低;球队的所有权与控制权分离。

The reason of NBA＇s great success is the NBA teams＂ high efficient property rights arrangement. The characteristics of the property rights of NBA teams were concluded as the following：shares were concentrated in the hands of certain big share holders;team owners were changed infrequently,the property rights of the NBA teams were limited to be transmitted in some extent;principal-agent was used to manage most NBA teams with lower transaction cost;team ownership was separated from control right.