So this paper mainly researches the allocation of control right how to influence the governance efficiency.

最后得出结论，不同的行业中控制权配置因素对效率的影响不同。

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After painful reflection, people discover that the inefficient allocation of the control right level of companies destroy the micro-foundation of the efficient function of the whole market.

人们经过痛苦地反思后发现，上市公司控制权层面的无效率配置摧毁了整个市场赖以有效率运行的微观基础。

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The research on the allocation of financial control right which is the core of the financial governance problems, has the important theoretic value and practical meaning.

财务治理权作为财务治理的核心，对其配置问题的研究具有重要的理论价值与现实意义。

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