9.The main reason for the principal-agent relationship between shareholders and managers is the separation of ownership and management.()10.In a corporation,shareholders have unlimited liability for the assets and a residual claim to the firm value.()...
AgentGameEquilibriumThe problem that principal can effectively supervise the agent has not been solved. Based on principal-agent relationship, mathematical game model is constructed and backward induction method in game theory is used to obtain the equilibrium between the principal and agent. Discussion ...
Agency theory is concerned with problems that arise where one party (the agent) is expected to act in the interests of another party (the principal), but the agent’s own interests may conflict with the principal’s interests, and the principal cannot fully monitor and discipline the agent. ...
Principal-agent problems occur when the interests of the principal and agent are not aligned. As a result, agency costs are incurred. To identify a potential principal-agent problem, consider the following example: You hire the services of a roofer to fix your leaking roof. The hourly wage th...
Agency Theory History, Problems & Examples from Chapter 2/ Lesson 2 25K Discover principal agent theory. Learn the definitions of agency theory, agent, and principal. Explore principal-agent problems, solutions, and examples. Related to this Que...
就是代理问题的意思。什么是代理问题呢？股东如果自己经营企业，就不存在这个问题。但如果是请别人来经营，那么他请的总经理就是代理人，是代理这个股东来经营企业的。由于企业不是该总经理的，因此他的利益与股东的利益不可能完全一致，甚至为了个人利益有可能使股东利益造成损失。这就是所谓的代理问题。...
This paper explores agency problems associated with mutual and joint stock organizational forms. It examines whether the independent mode of distribution acts as a governance factor that reduces principal-agent and principal-principal costs. By analyzing a 1990-1997 panel of life insurance companies this...
The principal may be obligated as if it had expressly granted the authority to agent. 被代理人可能要承担他原本未明确授权给代理人之责任。 They signed an agency agreement. 他们签订了一项代理协议。 10.The third party and the agent shall be held jointly liable. ...
Agency problems are normally identified and defined as when (a) the principal cannot verify that the agent has behaved appropriately. That is, the desires or goals of the principal and agent conflict, and (b) the problem of risk sharing that arises when the principal and agent have different...
Agency theory assumes that the interests of a principal and an agent do not always align. This is referred to as theprincipal-agent problem.1 Financial planners andportfolio managersare agents on behalf of their principals and are given responsibility for the principals' assets. ...