The stockholders agreed to let their company keep back a part of its profits for reserve funds.

东们同意让公司扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果持比率大于32.88％，这时增加持比率会增加公司的代成本，导致对外部东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

股东们同意让公司扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果持股比率大于32.88％，这时增加持股比率会增加公司的代成本，导致对外部股东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

们同意让扣留一部分利润作为积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理层持比率大于32.88％，这时增管理层持比率会增的代理成本，导致管理层对外部的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

东们同意让公司扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理比率大于32.88％，这时增加管理比率会增加公司的代理成本，导致管理对外部东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

股东们同意让公司扣留一部分利公积。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理层持股比率大于32.88％，这时增加管理层持股比率会增加公司的代理成本，导致管理层对外部股东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

股东们同意让公司扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理层持股比率大32.88％，增加管理层持股比率会增加公司的代理成本，导致管理层对外部股东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

东们同意让扣留一部分利润作为积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理层率大于32.88％，这时增加管理层率会增加的代理成本，导致管理层对外部东的利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

股东们同意让公司扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管层股比率大于32.88％，这时增加管层股比率会增加公司成本，导致管层对外部股东利益侵占。

The stockholders agreed to let their company keep back a part of its profits for reserve funds.

东们同意让公扣留一部分利润作为公积金。

But if the managers" stockholding ratio is more than or equal to 32.88%, the increasement of the managers" stockholding may raise the agent costs and entrench upon external stockholders.

而如果管理比率大于32.88％，这时增加管理比率会增加公的代理成本，导致管理对外部东的利益侵占。