利他主义、代理成本与家族企业成长

家族管理模式的代理成本是高还是低?这是国外家族企业代理问题研究领域争论的焦点。本文分析了利他主义对家族企业代理成本的动态影响作用,本文认为:在家族企业发展的初期,利他主义有利于降低家族管理的代理成本;在家族企业发展的后期,利他主义会增加家族管理的代理成本。在此基础上,本文对学术界关于家族企业代理成本的争论进行整合,并从代理成本的维度提出了家族企业管理模式相机选择的原则。

Altruism,Agency Costs and Family Business Growth

Are the agency costs of family management high or low? This is a focus of foreign researches about family business agency issue.The paper analyzes the dynamic impact from altruism to agency costs of family business.The paper argues that: altruism will help reduce the agency costs of family management in the early stages of family business,and altruism will increase the family management agency costs in the late stages of family business.On this basis,the paper integrates the debate about agency costs of the...