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，以股东产权的权力组织为企业最高权力机构是制度性缺陷。
As a result, that meeting of stockholder is the highest right organ forms a defect of company system.
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.
在终极产权的框架下，通过对2005年中国上市公司样本的研究，文章检验了公司大股东的激励效应与壁垒效应。
Under the frame of property, the paper examines incentive effect and entrenchment effect of big shareholder by researching Chinese listed company sample in 2005.
在终极产权的框架下，通过对2005年中国上市公司样本的研究，文章检验了公司大股东的激励效应与壁垒效应。
Under the frame of property, the paper examines incentive effect and entrenchment effect of big shareholder by researching Chinese listed company sample in 2005.
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