Choosing all 1075 listed companies of share A which pay out dividends in cash as sample units, the paper tests how manager pay off(MBO) affects payout in cash. Regression analysis shows MBO could increase agency costs...Choosing all 1075 listed companies of share A which pay out dividends in cash as sample units, the paper tests how manager pay off(MBO) affects payout in cash. Regression analysis shows MBO could increase agency costs of listed companies. The authors further consider that the problems of “absence of owners” sharpen the conflict between managers and stockholder agency.The analysis also shows the positive regression relationship between MBO and payout for the companies with high percentage of state owned shares. So MBO is an effective way to solve the conflict of stockholder agency.展开更多
In the prest text,the perception of "techonlogy potency" is raised,by which the hechanism of technological transfer is analyzed before the two models of technological introduction are identified.It is pointe...In the prest text,the perception of "techonlogy potency" is raised,by which the hechanism of technological transfer is analyzed before the two models of technological introduction are identified.It is pointed out that the developing countries of weak enterprises in introducing technologies,should follow the model of "new techrology for narrrwing gep".This will improve the efficiency of the introduced technology and will be of help in intro ducing effective technologies by the developing countries or weak interprises.展开更多
文摘Choosing all 1075 listed companies of share A which pay out dividends in cash as sample units, the paper tests how manager pay off(MBO) affects payout in cash. Regression analysis shows MBO could increase agency costs of listed companies. The authors further consider that the problems of “absence of owners” sharpen the conflict between managers and stockholder agency.The analysis also shows the positive regression relationship between MBO and payout for the companies with high percentage of state owned shares. So MBO is an effective way to solve the conflict of stockholder agency.
文摘In the prest text,the perception of "techonlogy potency" is raised,by which the hechanism of technological transfer is analyzed before the two models of technological introduction are identified.It is pointed out that the developing countries of weak enterprises in introducing technologies,should follow the model of "new techrology for narrrwing gep".This will improve the efficiency of the introduced technology and will be of help in intro ducing effective technologies by the developing countries or weak interprises.
