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| A Study on Incentive Mechanism of Managers Considering Collusion |
| YAN Sen，WU Wenqing |
| 1. Ningbo Institute of Technology, Ningbo， Zhejiang, China;
2. Tianjin University, Tianjin, China |
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Abstract The paper puts forward the principalagent models with and without collusion based on the principalagent theory. It also analyzes incentive mechanism according to the model results. Finally, it discusses measures that should be taken in response to speculative behaviors of the managers based on the analysis of the model.
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Received: 05 September 2012
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2013, Vol. 10 
