信息不对称条件下企业集团税后利润的优化

研究了信息不对称条件下一个既有内部关联交易又有外部交易的企业集团 ,如何通过转移价格、运输费用分配率等因素 ,减少信息不对称子公司的道德风险 ,实现企业集团整体税后利润最大化的问题·根据委托代理理论 ,从最大化企业集团期望税后利润的角度出发 ,考虑了信息不对称子公司的个体理性约束和激励相容约束 ,以转移价格和运输费用分配率为决策变量 ,建立了企业集团税后利润优化模型 ,并应用进化规划算法对模型作了仿真计算·结果表明 ,企业集团可以通过转移价格、运输费用分配率等变量的适当选择来优化自己的税后利润

Optimizing Group's Profit-After-Tax Under Asymmetric Information Condition

An approach to decrease moral hazard of subsidiary company with asymmetric information was examined to optimize the group's profit after tax through determining the transfer price and transportation cost allocation rate in the coudition that there are both affiliated trade and external trade in a group. According to the principal agent theory, the individual rationality constraint and the incentive compatibility constraint of subsidiary company with asymmetric information were considered using the transfer price and transportation cost allocation rate as decision variables to establish the profit optimizing model. The evolutionary programming algorithm was used to do the simulation. The results show that a group can optimize its profit after tax through adjusting the transfer price and transportation cost allocation rate.