| 委托人与代理人的投资效用 |
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| 引用本文： | 秦学志,吴冲锋.委托人与代理人的投资效用[J].系统工程学报,2002,17(2):150-154. |
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| 作者姓名： | 秦学志 吴冲锋 |
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| 作者单位： | 上海交通大学现代金融研究中心,上海,200030 |
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| 基金项目： | 国家自然科学基金资助项目 ( 70 0 2 5 30 3)，教育部跨世纪人才基金资助项目 |
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| 摘 要： | 在市场信息非对称的条件下，探讨了下列问题；（1）代理人的绝对风险厌恶系数与其投资效用之间的关系；（2）代理人持股比例，道德风险程度与其投资效用的关系；（3）外部投资者绝对风险厌恶系数与投资额的关系；（4）外部投资者的绝对风险厌恶系数与其投资效用的关系；代理人持股比例的变化与外部投资者投资效用的关系；在一定的条件下，得到了相应的结论。
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| 关 键 词： | 委托人 代理人 投资 投资效用 金融 |
| 文章编号： | 1000-5781(2002)02-0150-05 |
| 修稿时间： | 2000年12月11 |
Principal and agent's investment utilities |
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| QIN Xue-zhi,WU Chong-feng.Principal and agent''''s investment utilities[J].Journal of Systems Engineering,2002,17(2):150-154. |
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| Authors: | QIN Xue-zhi WU Chong-feng |
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| Abstract: | In this paper, on the condition of asymmetric information, we study the following problems,(I)The relationship between the degree of the agent's absolute risk-aversion and his investment utility,(II)the relationship between the proportion of the agent's holding shares ,the degree of agent's moral hazard and his investment utility ,(III)the relationship between the outsider investors' degrees of their absolute risk-aversion and the firm's investment amount,(IV)the relationship between the degrees of the outsider investors' absolute risk-aversion and their investment utilities,(V)the relationship between the change of the proportion of the agent's holding shares and the outsider investors' investment utilities. Under some conditions, we obtain the corresponding results. |
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| Keywords: | utility principal agent investment information asymmetry |
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