Naturally the principle-agent relationship exists in SOEs, which is determined by the properties of SOEs, not by the effect of division of labor and large-scale economy.

• 国有企业中天然存在着委托代理关系，这种委托代理关系的存在主要是由国有企业自身的属性决定的，不完全是出于分工效果和规模效果。