Study On Bi-directional Incentive-constraint Mechanism Between Owner And Manager

Owner and manager are two interest subjects of an enterprise, in theory andin enterprise setting up the incentive-constraint mechanism to manager have beenpaid close attention to, and a large number of facts prove that owner and managerhave attempt and behavior of breaking one's word with each other, the relation ofboth sides is inter-dynamic. So new view that bi-directional incentive-constraintmechanism between owner and manager should be set up in enterprise is proposedin this dissertation.The principal-agent theory is used here to analyze cooperation andcompetition between owner and manager, point out that they are simultaneouslythe both sides of the bi-direction principal-agent relation, on this basis the studyframe for bi-directional incentive-constraint mechanism between owner andmanager is set up;Analysis methods, such as system analysis, game theory, etc.,are used here to divide the cooperation course between manager and owner intotwo stages: setting up contract stage and setting up credit stage, to propose the twonew concepts: Contract expected utility and credit expected utility, to set up aseries of mathematics models, negotiation models while signing a contract, toanalyze the course during which both sides set up the contract;Negotiationstrength model is set up to analyze the growth and route of one's negotiationstrength;Credit behavior decision model is used to discuss the game route thateach side's keeping its credit or breaking its credit, breaking one's credit andsupervising;Both sides'credit circulation setting up model is used to explainthe inter-dynamic course of their respective credit behavior decision and creditconstruction.On the basis of systematic analysis on bi-directional incentive-constraintmechanism between owner and manager, direct investigation data is used toanalyze the difficult points in the cooperation course between enterprise ownerand manager of our country;Using domestic and international enterprisegovernance experience for reference, a bi-directional incentive-constraint schemebetween owner and manager --Manager's contract expectation backfill mechanismis set up, which fits our enterprises and illustrates the design idea and workingroutine in setting up bi-directional incentive-constraint mechanism between ownerand manager in enterprises of our country;The external environment conditionof the mechanism is analyzed to prove that the game rule of " manager " and "owner "should be perfected, behaviors of both sides should be regularization.