The basic question of Agency Theory.

——代理理论的基本问题。

The third question is, Is agency theory empirically valid?

第三个问题是，是代理理论实证有效的？

Agency theory took this issue seriously, but gave us wrong answers.

代理理论正视了这一问题，却给出了错误的解决方案。

The theoretical bases are manpower capital theory and agency theory.

股权激励机制的理论基础是人力资本产权理论与代理理论。

The first asks the deceptively simple question, What is agency theory?

第一问的看似简单的问题，什么是代理理论？