ERP系统的实施与代理成本--基于中国ERP导入期的证据  

The Effect of ERP System Implementations on Agency Cost:Evidence from the Period of Introducing ERP in China

作　　者：曾建光[1] 王立彦[1,2] 徐海乐[3] 

机构地区：[1]北京大学光华管理学院 [2]北京大学国际会计与财务研究中心 [3]中央财经大学金融学院

出　　处：《南开管理评论》2012年第3期131-138,共8页Nankai Business Review

基　　金：国家自然科学基金项目(70772006);国家社会科学基金项目(08BJY157)资助

摘　　要：截止到2006年,我国企业基本完成了从认识ERP到导入ERP的过程。通过ERP系统的实施,越来越多的与企业运营相关的信息,如财务信息、物流信息等都通过ERP进行处理和优化,这样不但可以减少管理层与普通员工之间的代理成本,也可以降低股东计量、控制管理层行为的监督成本,进而进一步优化代理成本。基于此,本文研究了导入期ERP系统的实施对于我国上市公司代理成本的影响。研究结果表明,实施了ERP系统的公司,其代理成本显著降低;但是,实施了ERP系统的国有控股公司,其代理成本没有发生显著变化。From 1998 to 2006, more and more companies started to introduce ERP （Enterprise Resource Planning） in China. This pe- riod is called introducing ERP period. During this period Chinese government makes use of a lot of methods to improve the quality of ERP implementation and hope to improve the operating efficiency for state owned enterprises. Since being raised in 1976 by Jensen and Meckling, the agency problems have been widely discussed in the academic circles and the business world. Jensen and Meckling（1976） hold that the agency costs will reduce to zero when the management of an enterprise have one hundred percents stock rights. With the changes of the corporate ownership structures, when ownership and control are separated, the issues of incentive and constraint have become more and more prominent, and based on which Jensen and Meckling proposed the Convergence of Interest hypothesis. The hypothesis holds that the higher the share holding ratio of the manag- ers, the closer the relationship between their personal wealth and the company＇s operation status; if the managers spending causes the loss of the company, they will also bear part of the loss, and consequently the manager＇s behavior will becomes more and more rational （Jensen and Meckling,1976）.However, with the widespread of the informa- tion technology, the existing literature seldom study the impact of information technology on agency costs and an agency efficiency that caused by the agency problems. This paper investigates that the effect of ERP system implementations on the agency cost. Through analyzing the ERP system that has been widely accepted by the enterprises, this paper tries to find out the impact of ERP system im- plementation on the agency costs, to provide an empirical test for the investors and policy makers, especially for the improvement of the IT internal control mechanism. We find after the ERP System Imple- mentations the listed companies significantly decrease the agency cost after ERP adoption; but the state-owne

关 键 词：ERP 代理成本 国有控股公司 

分 类 号：F270.7[经济管理—企业管理]