Managerial Dilemmas

Managerial Dilemmas PDF Author: Gary J. Miller
Publisher: Cambridge University Press
ISBN: 9780521457699
Category : Business & Economics
Languages : en
Pages : 276

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Book Description
Managerial Dilemmas extends the use of analytical techniques from organisational economics to the spheres of organisational culture and leadership in politics and business.

Managerial Dilemmas

Managerial Dilemmas PDF Author: Gary J. Miller
Publisher: Cambridge University Press
ISBN: 9780521457699
Category : Business & Economics
Languages : en
Pages : 276

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Book Description
Managerial Dilemmas extends the use of analytical techniques from organisational economics to the spheres of organisational culture and leadership in politics and business.

Handbook of New Institutional Economics

Handbook of New Institutional Economics PDF Author: Claude Ménard
Publisher: Springer Science & Business Media
ISBN: 354069305X
Category : Business & Economics
Languages : en
Pages : 875

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Book Description
New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.

Solutions to the Principal-agent Problem in the Firm

Solutions to the Principal-agent Problem in the Firm PDF Author: Catherine V. Brown
Publisher:
ISBN:
Category : Compensation management
Languages : en
Pages : 124

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Book Description
Does increasing or restructuring executive compensation improve firm performance? Is there an optimal composition for the firm's supervisory board of directors? How effective are management incentives and regulation of management in alleviating firm agency problems? While previous work examines the relationships of executive compensation and board composition to firm performance in isolation, I explore the effects of the agency alleviating mechanisms in a simultaneous equations framework. I find evidence that the variables are jointly determined. If these findings indicate the approximate nature of the system, then results estimating these relationships in isolation are potentially spurious, and corporate governance recommendations based upon them may be ineffectual.

Exercising Agency

Exercising Agency PDF Author: Mark Mullaly
Publisher: Routledge
ISBN: 1317138090
Category : Business & Economics
Languages : en
Pages : 182

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Book Description
Exercising Agency is a book about decision making. In particular, it looks in detail at how a very important type of organizational decision gets made: whether or not to initiate a project. Making strategic decisions of this kind can never be a wholly rational and scientific process. And Exercising Agency lifts the lid on many of the important behavioural factors that inform project decisions: power and politics, personality, the ’rules’ of an organization. Mark Mullaly draws on his research to provide practical guidance for decision makers; project shapers, approving executives and those responsible for how initiation decisions are made. By explaining the influence, value and risks associated with the elements that inform the way we make strategic decisions he will help you identify how individuals and organizations can best support the process to ensure project initiation decisions are effective and most closely underpin the priorities of the organization. If you are involved in framing or making decisions about the future of your organization; the projects that you do or don’t decide to initiate, then read this book. It won’t make the decisions any easier but it will help you improve the quality of the decisions you make and over time, the effectiveness of your organizational decision making.

A Complete Solution to a Class of Principal-agent Problems with an Application to the Control of a Self-managed Firm

A Complete Solution to a Class of Principal-agent Problems with an Application to the Control of a Self-managed Firm PDF Author: Roger Guesnerie
Publisher:
ISBN:
Category :
Languages : en
Pages : 80

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Book Description


Agency Theory, Information, and Incentives

Agency Theory, Information, and Incentives PDF Author: Günter Bamberg
Publisher: Springer Science & Business Media
ISBN: 3642750605
Category : Business & Economics
Languages : en
Pages : 538

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Book Description
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.

The Noblest Triumph

The Noblest Triumph PDF Author: Tom Bethell
Publisher: Palgrave Macmillan
ISBN: 9780312223373
Category : Political Science
Languages : en
Pages : 384

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Book Description
In The Noblest Triumph, Tom Bethell looks at the history of property rights and shows that the key role played by the institution of private property has been misunderstood by Western elites for more than a century. Beginning with the ancient Greeks and arriving at the present day, Bethell looks at basic ideas about property found in the writings of Plato, Adam Smith, Blackstone, Bentham, Marx, Mill, and others. He shows that the institution of property is inextricably tied to traditional conceptions of justice and liberty, and he argues that prosperity and civilization can only arise where private property is securely held by the people. The Noblest Triumph is an indispensable book for anyone interested in this fundamental aspect of civilization and the progress of humankind through the ages.

Foundations of Insurance Economics

Foundations of Insurance Economics PDF Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748

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Book Description
Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.

The Theory of Incentives

The Theory of Incentives PDF Author: Jean-Jacques Laffont
Publisher: Princeton University Press
ISBN: 1400829453
Category : Business & Economics
Languages : en
Pages : 436

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Book Description
Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics research: What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents. This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information problems: adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.

The Economics of Contracts

The Economics of Contracts PDF Author: Bernard Salanié
Publisher: MIT Press
ISBN: 0262195259
Category : Business & Economics
Languages : en
Pages : 257

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Book Description
A concise introduction to the theory of contracts, emphasizing basic tools that allow the reader to understand the main theoretical models; revised and updated throughout for this edition.