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Ethics and Agency Theory

1992 Business & Economics
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Release : 1992
Genre : Business & Economics
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Book Synopsis Ethics and Agency Theory by : Norman E. Bowie

Download or read book Ethics and Agency Theory written by Norman E. Bowie. This book was released on 1992. Available in PDF, EPUB and Kindle. Book excerpt: Agency theory involves what is known as the principal-agent problem, a topic widely discussed in economics, management, and business ethics today. It is a characteristic of nearly all modern business firms that the principals (the owners and shareholders) are not the same people as the agents (the managers who run the firms for the principals). This creates situations in which the goals of the principals may not be the same as the agents--the principals will want growth in profits and stock price, while agents may want growth in salaries and positions in the hierarchy. The fourth volume in the Ruffin Series in Business, this book explores the ethical consequences of agency theory through contributions by ethicists, economists, and management theorists.

Agency Theory, Information, and Incentives

2012-12-06 Business & Economics
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Release : 2012-12-06
Genre : Business & Economics
Kind : eBook
Book Rating : 605/5 ( reviews)

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Book Synopsis Agency Theory, Information, and Incentives by : Günter Bamberg

Download or read book Agency Theory, Information, and Incentives written by Günter Bamberg. This book was released on 2012-12-06. Available in PDF, EPUB and Kindle. Book excerpt: Agency Theory is a new branch of economics which focusses on the roles of information and of incentives when individuals cooperate with respect to the utilisation of resources. Basic approaches are coming from microeco nomic theory as well as from risk analysis. Among the broad variety of ap plications are: the many designs of contractual arrangements, organiza tions, and institutions as well as the manifold aspects of the separation of ownership and control so fundamental for business finance. After some twenty years of intensive research in the field of information economics it might be timely to present the most basic issues, questions, models, and applications. This volume Agency Theory, Information, and Incentives offers introductory surveys as well as results of individual rese arch that seem to shape that field of information economics appropriately. Some 30 authors were invited to present their subjects in such a way that students could easily become acquainted with the main ideas of informa tion economics. So the aim of Agency Theory, Information, and Incentives is to introduce students at an intermediate level and to accompany their work in classes on microeconomics, information economics, organization, management theory, and business finance. The topics selected form the eight sections of the book: 1. Agency Theory and Risk Sharing 2. Information and Incentives 3. Capital Markets and Moral Hazard 4. Financial Contracting and Dividends 5. External Accounting and Auditing 6. Coordination in Groups 7. Property Rights and Fairness 8. Agency Costs.

Agency and the Foundations of Ethics

2013-02-28 Philosophy
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Release : 2013-02-28
Genre : Philosophy
Kind : eBook
Book Rating : 078/5 ( reviews)

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Book Synopsis Agency and the Foundations of Ethics by : Paul Katsafanas

Download or read book Agency and the Foundations of Ethics written by Paul Katsafanas. This book was released on 2013-02-28. Available in PDF, EPUB and Kindle. Book excerpt: Paul Katsafanas explores how we can justify normative claims such as 'murder is wrong'. He defends an original account of constitutivism—the view that we do so by showing that agents become committed to them in virtue of acting—and resolves philosophical puzzles about the metaphysics, epistemology, and practical grip of normative claims.

Ethics and Agency Theory

1989 Executives
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Release : 1989
Genre : Executives
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Book Synopsis Ethics and Agency Theory by : Sung-Kuon Chi

Download or read book Ethics and Agency Theory written by Sung-Kuon Chi. This book was released on 1989. Available in PDF, EPUB and Kindle. Book excerpt:

Ethics and Agency Theory

2003
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Release : 2003
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Book Synopsis Ethics and Agency Theory by : Douglas E. Stevens

Download or read book Ethics and Agency Theory written by Douglas E. Stevens. This book was released on 2003. Available in PDF, EPUB and Kindle. Book excerpt: We study the implications of introducing ethics into the traditional principal-agent model. In our model, the principal specifies a standard for effort at the time of contracting and the agent suffers a utility loss if he chooses not to provide the standard after agreeing to the contract. The magnitude of the loss depends upon the agent's ethical sensitivity. We demonstrate the emergence of an optimal flat salary contract. We then examine the interplay between ethical sensitivity and firm productivity in determining the optimal salary contact, and contrast it with the traditional incentive solution. Our results are intuitive and help explain a variety of contracting behavior that is inconsistent with traditional agency predictions.

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