公司治理是所有权和经营权分离的必然产物。
Corporate governance is derived from the separation of ownership and operations of a corporation.
大型商业组织在实际的生产运作过程中，将公司的所有权和经营权分离开是很有必要的。
In large businesses separation of ownershipand management is a practical necessity.
公司治理是研究现代企业制度下由于所有权和经营权分离及信息不对称而产生的代理问题的科学。
The corporate governance is a science concerning proxy problem under modern enterprise system, which is caused by the separation of ownership and operation, as well as the information dissymmetry.
分离公司的所有权和经营权所带来的优势是显而易见的。
The separation of ownership and managementhas clear advantages.
然而，如果经理人和所有人目标不一致的时候，所有权和经营权的分离也会给公司带来问题。
But it also brings problems if the managers’ and owners’ objectivesdiffer.
现代企业所有权和经营权的分离带来了代理关系，而代理关系的存在又必然产生代理成本。
In modern company agency relationships exist because of the separation of the ownership and the management, and that agency relationships must bring agency cost.
企业经营权和所有权的分离，导致委托-代理问题的出现。
The separation of enterprise's management and ownership, led to the agency problem.
所有权和经营权的分离使得经营者与股东存在着潜在的利益冲突，而这冲突在公司资本结构的设置上也会有所反映。
As the separation of ownership and operating rights, Stockholders and manager exists potential interest conflict which may be reflected on capital structure.
股权激励是现代企业在所有权和经营权相分离的情况下，解决委托代理成本问题的一种激励措施。
Stock ownership incentive is an incentive measure on resolving the problem of agency cost in case of the "Separation of Ownership and Control"of modern corporations.
由于公司的所有权与经营权相分离，高管和股东之间存在着利益冲突。
As the separation of the company's ownership and management, there is a conflict of interest in the top managers and the shareholders.
由于公司的所有权与经营权相分离，高管和股东之间存在着利益冲突。
As the separation of the company's ownership and management, there is a conflict of interest in the top managers and the shareholders.
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