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寻租经济学认为:“公共领域里全部资源的价值就是租。”由于经济人的有限理性和信息的不对称,在政府的规制中有许多权利不可能被完全界定,没有界定的权利就把一部分有价值的资源留在公共领域里。经济人出于自利的动机追求自身利益的最大化,就会去从事一些非生产性活动,以期把公共领域里有价值的资源据为己有,这些非生产性活动就是“寻租”。本文研究的是在股权双轨制的条件下上市公司的寻租行为。
Rent-seeking economics holds that: “The value of all resources in the public domain is rent.” Because of the bounded rationality of the economic man and the asymmetric information, there are many rights that can not be fully defined in the government’s regulation. Undifferentiated rights give Some valuable resources remain in the public domain. In pursuit of the maximization of their own interests for the motives of self-interest, the economists will engage in some non-productive activities in the hope of owning valuable resources in the public sphere as “rent-seeking.” This paper studies the rent-seeking behavior of listed companies under the dual ownership system.