References
[1]. Arrow K. J.: Uncertainty and the Welfare Economics of Medical Care. The American Economic Review 5(53), 941–73 (1963).
[2]. Jensen, M. C., & Meckling, W. H.: Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3(4), 305–360 (1976).
[3]. Holmstrom, B., & Milgrom, P.: Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design. The Journal of Law, Economics, & Organization, 7(special issue), 24–52 (1991).
[4]. Banerjee, A., & Duflo, E.: Reputation Effects and the Limits of Contracting: A Study of the Indian Software Industry. Quarterly Journal of Economics 115(3), 989–1017 (2000).
[5]. Laffont, J., & Tirole, J.: A Theory of Incentives in Procurement and Regulation. MIT Press (1993).
[6]. Finkelstein, A., & Poterba, J. M.: Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market. Journal of Political Economy 112(1), 183–208 (2004).
[7]. Rosenmüller, J.: Review of Game Theory, by D. Fudenberg & J. Tirole. Journal of Economics 58(3), 308–309 (1993).
[8]. Sun, Y., & Yiwen, S.: An empirical study on equity incentives and corporate performance based on the theory of delegated agency: the mediating effect of equity concentration. Journal of Hulunbuir College 27(04), 42-46 (2019).
[9]. Zhang, Y.: Research on equity incentives and delegated agency relationship of manufacturing listed companies: an empirical analysis based on the effect of equity incentives on stock price volatility. China Price (327), 66-68 (2016).
[10]. Liu, A., & Xinyu, L.: Managerial equity incentives, internal capital markets, and corporate diversification: an analytical framework based on the dual delegated agency model. Science and Technology Progress and Policy 33(17), 85-92 (2016).
[11]. Wu, B., Yaho, D., Xiaomei, W., & et al.: Missed opportunities and regrets?―A case study of termination of Guangfeng Technology's equity incentive from the perspective of delegated agency theory. Journal of Management Accounting Research (28), 56-66 (2023).
Cite this article
Zhou,X. (2023). Principal-agent Relationship and Agency Problem. Advances in Economics, Management and Political Sciences,34,74-82.
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References
[1]. Arrow K. J.: Uncertainty and the Welfare Economics of Medical Care. The American Economic Review 5(53), 941–73 (1963).
[2]. Jensen, M. C., & Meckling, W. H.: Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3(4), 305–360 (1976).
[3]. Holmstrom, B., & Milgrom, P.: Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design. The Journal of Law, Economics, & Organization, 7(special issue), 24–52 (1991).
[4]. Banerjee, A., & Duflo, E.: Reputation Effects and the Limits of Contracting: A Study of the Indian Software Industry. Quarterly Journal of Economics 115(3), 989–1017 (2000).
[5]. Laffont, J., & Tirole, J.: A Theory of Incentives in Procurement and Regulation. MIT Press (1993).
[6]. Finkelstein, A., & Poterba, J. M.: Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market. Journal of Political Economy 112(1), 183–208 (2004).
[7]. Rosenmüller, J.: Review of Game Theory, by D. Fudenberg & J. Tirole. Journal of Economics 58(3), 308–309 (1993).
[8]. Sun, Y., & Yiwen, S.: An empirical study on equity incentives and corporate performance based on the theory of delegated agency: the mediating effect of equity concentration. Journal of Hulunbuir College 27(04), 42-46 (2019).
[9]. Zhang, Y.: Research on equity incentives and delegated agency relationship of manufacturing listed companies: an empirical analysis based on the effect of equity incentives on stock price volatility. China Price (327), 66-68 (2016).
[10]. Liu, A., & Xinyu, L.: Managerial equity incentives, internal capital markets, and corporate diversification: an analytical framework based on the dual delegated agency model. Science and Technology Progress and Policy 33(17), 85-92 (2016).
[11]. Wu, B., Yaho, D., Xiaomei, W., & et al.: Missed opportunities and regrets?―A case study of termination of Guangfeng Technology's equity incentive from the perspective of delegated agency theory. Journal of Management Accounting Research (28), 56-66 (2023).