“激励相容”理论在金融监管中的运用

由于在金融监管中监管者与被监管者存在着一种委托代理关系,委托代理理论中的"激励相容"概念才被用以概括金融监管的发展方向。激励不相容的监管不仅没有起到金融危机的防范作用,还给监管当局带来了自身的危机。中国金融业目前所存在的效率缺失问题日益凸显,如何调整我国金融监管中的激励不相容问题显得格外重要和迫切。要达到这个目的,就必须通过增强监管行为的透明度以及形成一套最优的监管制度安排来消除激励不相容的主要因素。

Corporate Behavior Theory on Stakeholder Harmonious Corporate Governance

Corporate governance is the focus of all stakeholders in the balance of contradictions and conflicts in the view of corporatc behavior theory, harmonious governance may be the development direction of future corporate governance. The article explains the framework of harmonious governance based on the theory of corporate behavior, and holds that shareholder value and stakeholder value is as important as, combination of incentive-compatible and mutually compatible, interaction between market governance and relationship governance, is a major innovation path of harmonious corporate governance by stakeholders.