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| Residual Control Rights，Residual Claim Rights and Corporate Performance |
| QUAN Xiao-feng JIANG Jun-feng |
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Abstract By comparing different forms of contracts we analyzed the conditions on which residual control rights come into existence and the transformation relations between particular control rights and residual control rights. Under the framework of classical marginal analysis，we examined the marginal output of capital in the production function and that of residual control rights which indicates human capital. Gains from residual control rights were separated from corporation performance. Then, by introducing insurance mechanisms raised by Knight，we studied the characteristics of a correspondence to residual control rights，namely，residual claim rights，during the transfer in the corporation. The pricing of residual control rights for a corporation was further examined in the end. The main conclusions are as follows：（1）Residual control rights come into existence only when incomplete information and the pursuit of profit appear simultaneously;（2）Residual control rights depend on definin
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Received: 28 April 2009
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Corresponding Authors:
QUAN Xiao-feng
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2009, Vol. 1 
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