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agency cost under the restriction of free cash flow代理成本的限制下自由现金流
Journal of Service Science and Management, 2011, 4, 79-85 79
doi:10.4236/jssm.2011.41011 Published Online March 2011 (http://www.SciRP.org/journal/jssm)
Agency Cost under the Restriction of Free
Cash Flow
Junhong Chu
Department of Finance Zhuhai Campus, Jinan University, Zhuhai, China.
Email: jhchu@126.com
Received November 12th, 2010; revised December 22nd, 2010, accepted December 24th, 2010.
ABSTRACT
Agency cost theory is an important branch of capital structural theory. Free cash flow has signific
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