公共信息产品与最佳完全契约

委托-代理理论对于建立完全契约,防治机会主义行为具有重要意义.讨论了三种参数化的委托-代理模型,通过比较分析得出:在委托代理契约中,若代理人在职消费的信息以及所有公司平均净资产报酬率的信息能体现在契约条款中,并以现金为基础来评价代理人的经营业绩,则代理契约的完全程度将增加,其激励程度也将增强,代理成本将降低.但所有公司的平均净资产报酬率是一个公共信息产品,只有政府提供才具有权威性.因此只要政府提供了相关的公共信息产品,完善了相关的制度环境,最佳完全契约是可以实现的.

Information Product of Commonality and Optimal Complete Contract

Principal-agent theory takes on important meaning for constituting complete contract and preventing the action of opportunism.This paper discussed three parametered principal-agent model,By comparing and analyzing,if agency's information of consumption of incumbency and average net asset return of all corporations,and appraise agency's management outstanding achievement based on cash,then complete degree and prompting degree of the agency contract will increase,the agency cost will fall.but average net asset return of all corporations is a information product of commonality,it will possess authority only from government.So if the government offer information product of commonality and perfect correlative system surroundings,optimal complete contract can achieve.