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112––––23WTOHRM——435647IBMIBM1950-6018%61-7020%71-7815%1978-866%198075199320870IBM5970IBM1070IBM61170IBMIBM1270IBMIBM5060IBM71370IBMHRM141978IBM8151978IBM161978IBM9171978IBM181978IBMIBM50COMPAQDELLSUN10191978IBMHRMCEO9020112122HRM/TeamWorking/1223HPWSTQM24132590123456789102614271.001.00/0.910.93R&D0.900.871.321.000.831.02281529moralhazard301631Domino30$332R&D1980173334…...——-18351980361970Heinz193738120392CEO402141EatonWhite1982ShapiroStiglitz1984422243CQm442345462447Gary.Becher48BeckerStigler,andLazear2549HayGroup%1993-1994754250168HayGroupBackerGibbsandHolmstrom265152HRM——2753-