The authority of the agent to act for and bind the principal is the very essence of the principal and agent relationship.

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。

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Corporation governance composed of governing structure and governance mechanism is a series of system arrangement, which is based on principal agent relationship and "insider control".

公司治理是基于企业内部有关委托代理关系及“内部人控制”等问题而产生的一系列制度安排，它由治理结构和治理机制两部分组成。

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And the main characteristic of modern corporate is the separation of ownership and management power, appearing principal-agent relationship.

现代公司主要的特征是所有权与经营权相分离，产生了委托———代理关系。

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