The Epistemic Fault Line in Corporate Governance
揭示了公司治理理论中一条将实证与规范概念分开的认知断层线，并提出了一个不可能性定理，证明当代理论忽视了规范概念，从而为改进现有模型和设计更复杂的认知模型铺平道路。
An epistemic fault line separating positive from normative concepts underlies theories of corporate governance. I analyze this fault line in order to show the importance of clarifying normative assumptions in governance models. I formulate an impossibility theorem for corporate governance that demonstrates how contemporary theories neglect normative concepts. Applying the theorem clears the way both for the better use of existing models and for the design of more epistemologically sophisticated models.