现代企业所有权与管理权的分离，造就了职业的管理者阶层和管理者市场。
When the management right separates from the proprietorship right, the professional manager and manager market come into being.
所有权与管理权分离经常会引起所有者与管理者之间的激励冲突，从而引起所有者的代理成本。
The separation of ownership and control in publicly held firms often creates incentive conflicts between stockholders and management, which causes agency costs for the firms' stockholders.
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