道德风险及其防范与控制

按照新制度经济学的观点,道德风险源于人的自利本性.企业经理的道德风险是指,经济代理人在对他行为的后果不必承担全部责任的情况下,因追求其自身效用最大化而作出损害委托人利益的行为.要减少经理的道德风险行为,必须增加所有者和经理的利益趋同性和降低二者之间的信息不对称程度,要求所有者通过有效的激励手段促使所有者和经理的利益趋同,使经理自觉减少道德风险行为;同时要求所有者通过有效的监督机制将所有者与经理之间的信息对称化,迫使经理被动地减少道德风险行为.

On Moral Hazard and Its Prevention and Control

In the view of neo-systematic economics,moral hazard originated from man's selfish nature.Moral hazard of enterprise managers refer to a business conduct of economic agents to seek for their maximum personal benefits at the expense of the interests of their clients without facing up to the consequence of their conduct.To lesson such moral hazard requires the convergence of the mutual interests of all the parties involved and the diminution of the asymmetrical information shared by both the enterprisers and managers.