Property Rights Optimization,Accounting Function and Surplus Corporate Governance

Positive transaction cost in our real world leads to incomplete contracts and needs property rights protection.The core of protecting property rights is to define property rights correctly.Accounting has the function of deciding and defending property rights in microcosmic level.However,definition property rights in macrocosmic level should base on accounting.The essence of property rights protection is preserving Property Rights District Order.Therefore,the way of how to preserve Property Rights District Order is property rights optimization,whose object is symmetrical allocation of surplus control rights and residual claim rights under the balance among responsibility,right and obligation.Corporate property rights optimization can be realized by means of corporate governance,which is good to property rights improvement if betterment.Last but not least,residual property rights and surplus corporate governance is a concentrated district of corporate property rights optimization.