主管：中国科学院
主办：中国优选法统筹法与经济数学研究会
　　　中国科学院科技战略咨询研究院
中国管理科学

中国管理科学 ›› 1999, Vol. ›› Issue (3): 1-10.

• 论文 •    下一篇

风险规避与企业的产生和发展

陈赤军, 叶焕庭   

  1. 清华大学经济管理学院 北京 100084
  • 收稿日期:1999-04-02 出版日期:1999-09-28 发布日期:2012-03-06

Risk Aversion and the Firm’s Forming and Developing

Chen Chijun, Ye Huanting   

  1. School of Economics and Management, Tsinghua University, Bejing 100084
  • Received:1999-04-02 Online:1999-09-28 Published:2012-03-06

PDF (PC)

1479

被引次数

16

摘要： 本文沿阿尔钦的风险规避(risk aversion)思想继续深入,认为企业的产生和发展是根源于所有参与人的风险规避动机,修正了新古典经济学的关于企业、企业家和资本家的风险中性和风险偏好假设,使理性经济人假设保持一致,并证明风险规避动机促使企业产生和发展,最后还以企业产生的历史、今天的发展和企业的存在形式作为分析验证的佐证。其中关于风险的证明在金融经济学、资产定价模型理论中具有广泛的应用。

关键词: 企业, 财富所有者, 人力资本所有者, 风险, 风险规避, 风险转移与分担

Abstract: Based on the idea of risk aversion from Alchain’s we think that the firm’s forming and developing is originated from the motivation to averse the risk of all the players furthermore. We corrected the risk neutral or risk loving assumptions of the firm, entrepreneur and capitalist to obtain consistency with the assumption of economic (or rational) person, and proved that the motivation of risk aversion induced the firm’s forming and developing.Then we analyzed the history of the firm’s forming, development of present days and organizational types as the evidences. The risk propositions or theory in the paper also have wide application in study of financial economics and assets pricing theory.

Key words: firm, owner of the property, owner of the human capital, risk, risk aversion, risk shift and share