Costs of rs consist of the direction cost and the indirection cost . the direct cost refers to dividend and underwriting fee . the indirect cost is agent cost caused by rs 配股的成本包括直接成本和间接成本，直接成本指股利以及承销费用，间接成本则是资本结构变化引致的代理成本。
The results provide support to agency theories of corporate leverage , and especially evidence for the impact of financing structure on the underinvestment of firms with high growth opportunities 结果支持了负债代理成本理论，尤其为负债融资时高成长企业的投资不足影响提供了有力证据。
So , the financing activities may deviate from the objectives of the shareholders , and the agency cost is rather high , which reflect the existing drawbacks of the corporate governance 企业经营者行为偏离了股东利益目标，造成了很高的股权代理成本，反映了我国上市公司治理结构存在的缺陷。
Provided the managers " stockholding ratio is increased , the managers " on - the - job consumption and the agent costs will be reduced , and corporation governance merits will greatly be raised 只要增加管理层持股比率，就会减少管理层的在职消费，降低代理成本，大大地提高公司治理绩效。
This paper tried to analyze the agent cost affection on dividend policy , using the theories of property rights economics and information economics and the empirical approach 本文试着用产权经济学,信息经济学和数学实证的方法,从代理成本的角度分析我国上市公司代理问题对股利政策的影响。
With the increase of cash flow of controlling shareholders , agency costs of debt financing decreases , which testifies the " incentive effects " of controlling shareholders 研究结果认为，控股股东的存在加大了债权人与股东之间的信息不对称程度、提高了负债融资的代理成本，并导致企业过早投资。
If the indexes system is incomplete , the manager will take opportunism action for his benefit , so the agency cost will increase . at this time the economic consequence occur 当评价指标不全面完整时，代理人出于自身利益的考虑，就会采取机会主义行为，代理成本就会增加，这时就出现了经济后果。
