The concentrated equity could bring on another agent problem - the large stockholders expropriate the interests of minority stockholders.
股权集中在少数大股东手中导致新一类代理问题产生：大股东侵害小股东利益。
参考来源 - 第一大股东关联交易对我国上市公司业绩影响的实证研究·2,447,543篇论文数据，部分数据来源于NoteExpress
Relatively concentrated equity structure is a quint essential character of modern stock system.
股权相对集中是现代股份制度的典型特征。
Private equity companies have much less of a principal-agent problem than do Citicorp, Bears Sterns and other publicly traded companies because private equity companies have a concentrated ownership.
比起花旗集团和贝尔斯登，私人实体企业与委托代理问题无多少关联，这是因为其拥有集中的所有制。
While company have a relative concentrated stock equity structure, company can exert best governance mechanism, so company could have higher governance efficiency.
在股权结构为相对集中型时，公司的制衡和监控机制发挥得最好，因而公司治理的效率较高。
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