产权优化、会计功能与剩余公司治理曹　越1

©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(1.,410079;2.,410205):,,,,,,:;;;;:F271:A:100325230(2010)0420044205(),(),,,[1][2],(incomplete):;;[3],[4](P160),,,():2010205217:(08BJY012);(09BJY019):(1981),,,,;(1966),,,,44©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.[5],,,,,,,,,,,,,[6],,()()20063948,,,,[7](P54),,,:;,;,,():,,,,,,,,,,,,,,,,,,;,,,,;,,,,,,,,,54©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),,,,,,,,;,,,,,():,,,,[8](P13),,,:[9](P92),,,[10],:;[11](P189199),,,();,,?,(),;;[12](P78):,;[13](P66),,,?;?;?,,:,;,[14],,,,,,,,:(1)();(2),,[15](P110),,,,,;,,,;,,,(),,64©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),(),,,,[16](P159),,[17](),,,[18](P26),,();,,,,:,,,,,,,,,,,,,,(),,,,,,,,,,,,,,,,,,,,,(),,,,,,,,74©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(),:,,,;,,,;,;,;,:,.[J].,2007,(12):8384.,,,,,:.[M].:,2005,P1819.,(absoluteproperty)()()(claims),,;(relativeproperty)()():(),().:[M].:,2006,P98160.,:,.[J].,2009,(2):2834.:[1]Cheung,S.TheContractualNatureoftheFirm[J].JournalofLawandEconomics,1983,26(1):121.[2].:[J].,1996,(6):6971.[3]Tirole,J.IncompleteContracts:WhereDoWeStand?[J].Economitrica,1999,67(4):741781.[4].[M].:,2006.[5],,.[J].,2005,(8):134135.[6],.[J].,2004,(5):9294.[7].:[M].:,2004.[8].[M].:,2001.[9]Posner,R.A.TheEconomicAnalysisofLaw[M].BostonandToronto:Little,Brown,1972.[10]Simon,J.,McMillan,J.,Woodruff,C.M.PropertyRights,FinanceandEntrepreneurship[Z].CESifoWorkingPaper,1999.[11].[M].:,2007.[12],.[M].:,1997.[13](),.[M].:,2002.[14].[M].:,2005.[15].[M].:,1998.[16]()Y..[M].:,1997.[17]Alchian,A.A.,Demsetz,H.ThePropertyRightParadigm[J].TheJournalofEconomicHistory,1973,33(1):1627.[18].:[M].:,2001.(:)84©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(1.SchoolofEducation,ColumbiaUniversity,NewYork1002726902,USA;2.SchoolofEconomics,PekingUniversity,Beijing100871,China)Abstract:Basedontheexperimentaldata,thispapergivesapositiveanalysisonthepossibilityofpublicgoodsbeingprovidedbyprivatevoluntarycontribution.Throughthestatisticalanalysisoftheexperimentaldata,itelaboratestheseveraltraditionaltypicalfacts,suchastheexistenceofvoluntarycontributionofpublicgoods,thedeclinetrendofcontributioninrepeatedgames,thepositiveeffectofMPCR(marginalpercapitareturnofpublicinvestment)andcommunication,etc.Besides,newfindingsaredisplayed,e.g.lowerinitialcontributionthantraditionalresults,bettereffectoforalagreementsandhugeheterogeneityingroupbehaviorandsoforth.Theconclusionisthatthegoalofpublicgoodsbeingprovidedbyvoluntarycontributioncanbeachievedbysystemdesignandarrangement.Keywords:PrivateVoluntaryProvisionofPublicGoods;ExperimentalEconomics;MarginalCapitaReturnTheImpactofEconomicRiskTheoryontheAssetsEvaluationSupervisionYUBingwen33(SchoolofBusinessAdministration,ZhongnanUniversityofEconomicsandLaw,Wuhan430073,China)Abstract:Thispaperattemptstodefinetheriskofassetevaluationfromtheperspectiveofbehavioraleconomics,whichisduetothelimitedrationalityandno2effectivemarket,soleadtothatappraisersbehavioroccursdeviationofvalueunderstandingandthestakeholdershavedifferentopinionsofinconsistency.Comparedwiththeclassicalrisktheory,anewtheoryofbehaviorriskisemphasisonchargereferencepointforthedatum,andcombinationofassetvalueandriskprobability.Accordingtothis,theappraiserschoosetheirownjudgmentofactivities.Therefore,supervisionofassetsevaluationshouldbedifferentfromthepast,thatiscomprehensiveandbalanceddistributionofsupervision,nowwhichhavetofocusonevaluationofthechargingstandardandappraiser’sbehaviortendencies.Keywords:RiskTheory;AssetsEvaluation;SupervisionTruncationofPropertyRightsandInterestCommonCompensationBasedontheTheoreticalAnalysisoftheBoundaryofMarketandGovernmentZHANGFeng38(SchoolofArtandScience,ShanghaiMaritimeUniversity,Shanghai201306,China)Abstract:Propertyrightsarecomposedofrightsandinterest,thetruncationofrightsleadstothelostofinterest.Inaperfectcompetitivemarket,Whentheinterestlosthappened,thereexitsaautomaticmechanismthatcanleadstothebalanceofinterest,butastothecaseofmarketfailureandgovernmentfailure,itisofimportanceofpowerofoutsidetocompensatethosepeoplewhoseinterestislost.Therefore,ononehand,itisofgreatvaluetobetterthecompetitionofmarket,andrealizeajustconditioninthemarket.Ontheotherhand,wherethemarketcantwork,thereneedthegovern2mentasamediaofcompensation,becauseitcanreducethecostofcompensate,andpromotetheim2plementationofinterestcompensation.Keywords:TruncationofPropertyRights;CompletenessofPropertyRights;CommonCompensationPropertyRightsOptimization,AccountingFunctionandSurplusCorporateGovernanceCAOYue1WUZhongxin1,244(1.SchoolofAccounting,HunanUniversity,Changsha410079,China;2