经理人败德行为治理困境的根源 ,在于经理人的“道德曲线”扩张乏力 ,从而阻碍了经理人道德水平的进一步提高。当前经理人“道德曲线”的扩张动力 ,不在于技术手段的创新 ,而在于以正确、完整的经理人人性假设为前提的经理人治理机制的创新。对经理人的人性假设进行反省 ,是经理人治理困境超越的新起点。 The root of the dilemma of manager losing his moral behavior lies in the weak expansion of the manager’s “moral curve”, which hinders the further improvement of manager’s moral standard. The current manager’s “moral curve” is not driven by the expansion of technological means but by the innovation of the manager’s governance mechanism based on the assumption of a correct and complete human nature of the manager. Reflecting on the manager’s humanity hypothesis is a new starting point beyond which the manager’s governance dilemma can be overcome.