Warning: session_start(): open(/tmp/sess_4b043e5ccda7abe1ea30f503fc8e30a0, O_RDWR) failed: Read-only file system (30) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 802

Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 802

Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 802

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 675

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 676

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 677

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 678

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/classes/core/engine_class_inc.php on line 679

Warning: Cannot modify header information - headers already sent by (output started at /srv/www/htdocs/cshe/classes/core/engine_class_inc.php:802) in /srv/www/htdocs/cshe/templates/page/default_page_tpl.php on line 1
African Higher Education Research Online - Agency Theory and the Design of Efficient Governance Mechanisms

   

Comments

Comment on the Resource   Post a comment on this item

Statistics

This resource has been visited 240 times

This resource has been downloaded 10 times

Agency Theory and the Design of Efficient Governance Mechanisms

Sakhri, Mohamed

Abstract:

The purpose of this paper is to analyze the mechanisms by which corporate boards may fail to provide the monitoring and ratification of managerial decision in public and private corporations.

The paper creates a framework for thinking about the problem of designing efficient governance mechanisms that is based on the theory of agency. Mechanisms by which boards can fail to provide efficient governance of the firm via monitoring and ratification of managerial decisions are analyzed, and the framework is used to supply structural and behavioural interventions designed to make boards better agents for the shareholders. As with any such theory, the framework can also be used by managers to either strengthen or weaken their boards’ powers of monitoring, ratification and sanctioning of managerial decisions. It can also be used by shareholder groups to design effective contractual structures that bind boards to their mandate, and by boards themselves to understand the ways in which top managers and shareholders can bind them to their mandate and ways in which they could function more efficiently.

Full text available as: PDF

 


Document Title: Agency Theory and the Design of Efficient Governance Mechanisms
Project Title: Agency Theory
Institution: Paris Graduate School of Management
City and Country: Hassi Messaoud, Algeria


Date:2010
Document Type:Research Report (Peer Reviewed)


File Size:147 KB
Date Added:09 September 2010


Sakhri, Mohamed (2010). Agency Theory and the Design of Efficient Governance Mechanisms.

Warning: Unknown(): open(/tmp/sess_4b043e5ccda7abe1ea30f503fc8e30a0, O_RDWR) failed: Read-only file system (30) in Unknown on line 0

Warning: Unknown(): Failed to write session data (files). Please verify that the current setting of session.save_path is correct (/tmp) in Unknown on line 0