Property Rights, Agency Costs, and Firm Performance - Theoretical Analysis and Empirical Testing

Author: Li Shouxi
Publisher:
Publish Date: 2006-12-01
Features: This book is divided into three parts. The first part primarily reviews the research by foreign scholars on the relationship between property rights, agency costs, and corporate performance. The second part mainly summarizes and analyzes the research by domestic scholars on the relationship between property rights, agency costs, and corporate performance. The third part, based on the theoretical framework constructed in the preceding two parts, conducts an empirical test using data from the National Industrial Survey conducted by China's National Bureau of Statistics. It compares the differences in agency costs among enterprises with different property rights and their relationship with corporate performance. The research conclusions of this book hold certain theoretical and practical significance for advancing China's market reforms in property rights diversification and promoting competition among different forms of enterprise organization.