To Introduce The Accountability System Into Enterprises By Comparing It With The Incentive And Restraint Mechanism

One of the main traits of modern enterprise system is the separation of ownership and managing rights, which brings on the principal-agent relationship between the owner and the operator. Because of the existing of interests inconsistency, information asymmetry, imperfection of contract and inequality of duty hazard between the two, the emergency of the"agency problem"is inevasible. The essential reason of the appearance of the incentive and restraint theory is to reduce the losing brought by the agency problem and to minimize the agency cost. But, at present, the main problem in the incentive and restraint mechanism in our enterprises is the restraint being weakened caused by paying more attention to the incentive mechanism but less attention to the restraint mechanism. The operators only enjoy the power, without taking the corresponding responsibility, so there is a large number of"irresponsible behaviors"which harm to the interests of enterprises and the owners.The"accountability system"offers a new way of thinking to solve the problem of the operators'power restraint. Because of the accountability system has already been put into practice in the administrative areas and has achieved certain results, so we try to introduce it into enterprises by comparing it with the incentive and restraint mechanism. As a supplement of the incentive and restraint mechanism, it can effectively supervise and regulate the exercise of power, and reduce the irresponsible behaviors of the operator.All of our analysis and the corresponding conclusions in this paper are based on the following theories: (1) the principal-agent theory, all of the problems are discussed in the framework of this theory; (2) the incentive and restraint theory, is one of the main theoretical basis of our actual incentive and restraint mechanism; (3)the summary of administrative accountability system, including the origin, meaning and constituent elements of it, which are the basis of our defining the meaning and the elements of the enterprise...