代理人以代理权为委托人行事同时委托人受此约束是委托人和代理人关系的本质。
The authority of the agent to act for and bind the principal is the very essence of the principal and agent relationship.
本文从信息博弈角度出发，分析信息在企业内流动与企业委托人与代理人的激励关系。
This article proceed from information game, to analyse the information flow in enterprise and the incentive relation between trustor and agent.
道德风险是在委托代理关系中产生的，其原因在于委托人和代理人努力目标不一致，信息不对等。
Moral risk is produced in principal and agent relationship, which results from the discordance of purpose and unequal information between principal and agent.
托管制的出现，较好地处理了“两权分离”后作为委托人的企业主同作为代理人的经理人之间的契约关系。
The trusteeship system has well handled the contract relationship between client and agent, which represents the relation of proprietor and manager after separating.
而不同的公共部门存在着不同的权力分配关系，在不同的权力结构下，委托人与代理人可能出现的道德风险问题也会有所不同。
For different distribution relation of power in different public sector there are various problems of moral risk of trustor and agent in various power structure.
现代公司的委托代理关系主要涉及委托人和代理人。
The principal-agent relationship of modern companies mainly deals with the clients and the agents.
棘轮效应是委托代理关系中委托人与代理人追求目标发生冲突时产生的一种现象。
The ratchet effect is a phenomenon induced in conflict between entruster and agent who pursue different objectives in the entrustment-agency relation.
委托代理关系中，由于信息不对称、委托人与代理人目标函数不一致等原因产生代理问题。
In principal-agent relations, principal-agent problems occur because of information asymmetry and discrepancies between the objective functions of the principal and the agent.
代理协议作为约束委托人和代理人双方权利义务关系的载体，必然存在相应的风险。
There must exist relevant risk in agency agreement as a carrier which restrains right and duty of both consigner and agent.
对委托人而言，代理人的监督成本很高，激励是委托—代理关系是否有效的关键因素。
For the client, supervision cost of the agents is high, and incentive pay is the key factor for the validity of commission-agency relationship.
在社会中，许多基本的权力动力学可以归纳为一个人——委托人——需要另一个人——代理人——为其做事之间的关系。
Many of the basic power dynamics in society boil down to the relationship between one person-a principal-who needs another-an agent-to do something for him.
双方之间实质上是掌握信息较多的代理人通过合同或其他经济关系与掌握信息较少的委托人之间的博弈关系。
In essence, the relationship between them is to play a game by contract or other economic restrain like agent and client.
现代公司表现为所有者与经营者分析的委托—代理关系，委托人既要恰当地激励代理人，又要对代理人的行为进行监管。
One feature of modern enterprises is the separated relationship between principals and agencies, which requires that principals should give proper incentives and supervisions to agencies.
代理问题就是在委托代理关系中，由于代理人的行为而给委托人造成的风险和损害。
On one hand, it will make the economic activities of an enterprise more efficient, on the other hand, it may result in some agent problems which result risk to the principals.
代理问题就是在委托代理关系中，由于代理人的行为而给委托人造成的风险和损害。
On one hand, it will make the economic activities of an enterprise more efficient, on the other hand, it may result in some agent problems which result risk to the principals.
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