Contracting Strategies in Entrepreneurial and Established Firms
研究了创业企业与成熟企业因所处经济环境不同（均衡vs非均衡）而需要不同的契约策略，并构建了一个包含风险、环境、治理结构等要素的模型，提出契约策略如何影响企业成败的假设。
Entrepreneurial and established firms need different contracting strategies because they operate in different environments. Established firms operate in an environment of economic equilibrium, whereas entrepreneurial firms operate in an environment of economic disequilibrium. A general contracting model is developed that takes into account risk, environmental context, governance structure, safeguards, transaction costs, and transaction justice. The model is used to develop hypotheses about how entrepreneurial and established firms’ contracting strategies differ and how contracting strategies lead to firm success or failure.