One of the basic features of the modern enterprise system is the separation of ownership and operation, which gives birth to the problem of principle and agent.

现代企业制度的基本特征之一就是所有权与经营权分离，从而产生了委托代理问题。

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We find that the combination of identity and incentive pay provides a good idea of solving the principle-agent problem in the public and firms in China.

我们发现身份认同与薪酬激励的结合为解决中国公共部门与企业的委托代理问题均提供了很好的研究思路。

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So according to the principle of incentive compatibility, the owner of the physical capital had better design an efficient incentive plan to solve the principle-agent problem.

因此，物质资本所有者只能遵循激励兼容原则，设计有效的激励方案，最大程度地解决委托代理问题。

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