Oliver Hart. Firms, Contracts and Financial Structure. Oxford University Press,1995.

Project: National Science and Technology CouncilNational Science and Technology Council Academic Grants

Project Details


The aim of the project is to translate the book into Chinese version in which is entitled “Firms, Contracts, and Financial Structure,”written by Oliver Hart, and published by Oxford University Press in 1995. In the book, Hart provides a framework for thinking about firms and other kinds of economics institutions. He points out that firms arise in situations in which people write incomplete contracts. Therefore, allocation of power or control is important in the whole process. In the first part of the book, he uses the methodology of incomplete contracts which he pioneered to investigate the boundaries of the firm. In the second part of the book, he unifies theory of the ownership and financial structure of the firm. Incomplete contracting ideas are applied to understand firms’financial decisions, such as the nature of equity and debt, bankruptcy procedure, and the allocation of voting rights across a company’s shares, etc. The project is planning to fulfill the following requirements: 1) to collect and study the literature related to the issues appeared in the book; 2) to finish an introduction of the Chinese version for the book; 3) to provide the completion of the Chinese version of the book originally written in English.

Project IDs

Project ID:PE10012-0014
External Project ID:NSC100-2410-H182-027
Effective start/end date01/08/1131/07/12


  • Image content editing
  • Scene composition classification
  • Kansei engineering


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