机构股东产权契约对公司治理具有重要影响。
Thus the property rights contract of institutional shareholder is of great importance to the corporate governance.
因而企业事实上是一个以财务契约为核心的各利益相关者缔结的产权契约联结体。
Thus a firm is in fact a nexus of property rights contracts stakeholders signed with financial contract as its core, which aims at sustainable development.
机构股东的产权契约具有节约交易费用的代理优势，但代理链过长会增加交易费用。
The property right contract of institutional shareholder enjoys the advantage of the agency of trade expenses, yet the long chain of agency will increase the cost in the trade.
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