第三章是关于企业产权结构的论述。
Chapter three is about the structure of the property right of enterprise.
MBO有利于进一步完善企业产权结构，激励经营者。
MBO helps to perfect the property right structure of enterprises further and encourage the managers.
MBO有利于我国企业产权结构的调整，建立现代企业制度。
MBO is favorable to the adjustment of enterprise's property right structure of our country. It sets up modern enterprise system.
在不发达地区乡镇企业产权结构中，乡镇办企业占到相当大的比重。
As to the property structure of town and township enterprises in the undeveloped regions, town-and township-run enterprises hold a fair proportion.
企业所有制结构及股权结构要由日趋完善的市场来产生，这样才能改善我国企业产权结构与经营机制。
Ownership and shareholder structure of firms should emerge in the ever-improving market, so as to improve the property right structure and operating mechanism of Chinese companies.
这里将人力资本作为企业的一种制度要素进行分析，并探讨它对于企业产权结构、法人治理结构和企业文化方面的影响。
Here analyse the human capital as a system essential and probe its effect on the structure of property right? The structure of legal person management and Business culture.
认为企业的产权结构是企业最基础和最核心的制度。
The structure of property rights is the most foundational and core system in corporation.
MBO对降低代理成本、调整企业结构、解决产权不清问题有着重要的意义。
MBO will be helpful in decreasing agent cost, adjusting the structure of company, and solving the problem of property rights.
企业契约对产权分析具有重要意义，是公司治理结构赖以产生的条件，剩余控制权与剩余索取权的配置是公司治理结构的决定性因素。
Enterprise contract is of great significance to the analysis of property right and the condition for the emerging of enterprise property right structure.
造成我去国国企产权结构单一化的原因在于社会资本向企业资本转化的机制缺位。
The cause of single structure of our state-owned enterprises lies in the lack of transitional mechanism from social capital to enterprise capital.
民营资本，尤其是私营资本和企业，其资本功能组织形态缺乏结构性，资本产权组织形态未能社会化。
That the organized formation of capital property isn 't socialized cause its organized formation of capital function lack of structure.
而要解决这些问题就迫切需要建立产权多元化的现代企业制度和法人治理结构。
Then thought must solve these problems on urgent to need to establish the property right multiplication the modern enterprise system and the legal person governs the structure.
股权结构不合理导致我国上市公司治理结构存在问题，而MBO正是完善公司治理的有效手段，在我国可以充分发挥明晰产权、降低代理成本、实现企业家价值的作用。
The ownership of a share construction caused the listed company many problems, and MBO is the valid means to these problems, and also having great functions in China.
我国历史上长期存在产业结构、地区结构、企业结构、产权结构不合理的矛盾。
There exists historical long-standing contradiction of the unreasonable structure on industry, region, corporation and property right in our country.
此外，在不同的产权结构与企业规模条件下，决定财务约束程度的企业因素有所不同。
In addition, we also find that with the ownership structure and firm size, different enterprise-specific factors shape financial constraints.
第一部分理论研究部分，从产权经济学的角度对企业股权结构进行了理论阐述。
The first section, theoretic research, expatiates upon corporate ownership structure based on the economics of property rights.
内容提要产权结构对企业财务行为具有十分重要的影响。
Property structure has a strong impact on the corporation's finance conductions.
只有在产权基础上明晰所有权结构及其影响，才能对企业理财目标作出理性的选择。
Only clear in meaning ownership structure and its influence in producing power foundation, then can manage finance a target to make a choice of reasonableness to the business enterprise.
产权制度影响企业效率，合理的产权制度安排是建立有效的经济组织和形成有效的公司治理结构的关键。
The property rights affect the efficacy of enterprise. The suitable property rights system is the key to establish an effective governance structure.
分享型的产权制度和治理结构能使所有者和经营者关注企业成长。
Efficient enterprise institutions should advantage the enterprise growth because owners and managers can be effectively encouraged to…
产权结构多元化使企业产生了多个利益相关者，为保护多个利益相关者更应注重董事会的建设。
Multi-owning of property right give birth to multi-benefit related owners, which lead to necessity for intensifying board of directors in order to protect benefit related owners.
产权结构多元化使企业产生了多个利益相关者，为保护多个利益相关者更应注重董事会的建设。
Multi-owning of property right give birth to multi-benefit related owners, which lead to necessity for intensifying board of directors in order to protect benefit related owners.
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