Agency conflicts

• Номер работы:
  389251
• Раздел:
  Все работы   →   Курсовые работы - простые   →   Английский язык
• Год подготовки:
  31.03.2016
• Объем работы:
  30 стр.
• Содержание:
  CONTENTS
  
  INTRODACTION 3
  PART I. Agency conflicts and risk management 5
  1.1. Conflicts and its classification 5
  1.2. The definition of «agency problem» and it`s their consequences 8
  1.3. Factors that contribute to agency conflict 11
  PART II. Agency Conflicts Around the World 16
  2.1. AC – the world experience and models 16
  2.2. Agency Problem in Russia 19
  2.2. Ways and forms of conflict resolution 24
  CONCLUSION 27
  REFERENCES 29
  
• Выдержка из работы:
  INTRODACTION
  A key element of corporate governance is the relationship between investors, shareholders and senior managers. In this connection, it can be argued that corporate governance - a complex system of agency relationship between the owners (principals) and managers (agents) acting in the interests of the company and in their interests. Theory of agency is studying the situation in which one person (the principal) authorizes another person (the agent) to perform some tasks in the interest of the principal, and the solution of these problems is not always within the interests of the agent. Principal can achieve this result by using moral persuasion or social and material incentives agent [1, 13].
  Previous studies have evaluated how compensation influences management behavior (Agrawal and Mandelker). However, it is difficult to determine the true influence of incentive compensation due to the often high degree of information asymmetry between managers and shareholders. Because managers have private and often superior information about the expected value of future projects (Bizjak, Brickley, and Coles) and their Rutgers University Journal Of Financial And Strategic Decisions associated risks, it is difficult to observe management’s true effort. ..........
  PART I. Agency conflicts and risk management
  1.1. Conflicts and its classification
  Conflicts are an integral part of social and economic life, so it causes the attention of scientists in studing the nature and matter of conflicts. Conflict is always associated with the subjective awareness of people contradictions of their interests as members of certain groups. Western experts recognized conflicts as the most important factors of social and economic development. English scientist M. Spencer believed that the conflict is «an inevitable phenomenon in the history of human society and stimulate social development». German sociologist R. Dahrendorf haracterise the conflict put political factors: the struggle for power, prestige, and authority. The conflict, according to him - is the result of social inequality. The basis of social conflicts, according to Marxism, is a struggle for ownership. American sociologist L. Coser defines a conflict as an ideological phenomenon that reflects the aspirations and feelings of social groups or individuals in the fight for the objective goals: power, change of status, income redistribution, reassessment of values and more. Modern management theorists and practitioners are increasingly inclined to the view that some conflicts are not only possible but also desirable. Role conflicts and their regulation in modern society is so great that at the end of XX century. released a special area of expertise – conflictology.
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