The Analysis of Agency Theory: A Research for Shuozhou Coal Economy Development

Zhu Xiangyu
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Abstract

Agency theory was presented by Jensen and Meckling in 1976. Agency theory mainly involves the contractual relationship between the provider of the enterprise resource and the user of the resource. Agency theory is developing from the researching of internal information asymmetry and incentive problems. According to agency theory, the owner of the economic resource is the principal, the manager who is responsible for the use and control of these resources is the agent. And the central task of the agency theory is to study how the client of can design the optimal contract incentive agent under the conflict of interest and information asymmetry. While if the interests of principal and agent are not exactly the same, the principal in the information disadvantage and can not entirely on the agent supervision, the agent has the motive for their own interests, and makes damage to the principal, it will result in the agent problem. This paper combs the related theory of agency theory firstly, and then combines the case to analyze the relative theories, and finally suggest recommendations as to how the issues should be addressed.
代理理论分析:朔州煤炭经济发展研究
代理理论是詹森和梅克林在1976年提出的。代理理论主要涉及企业资源的提供者和资源的使用者之间的契约关系。代理理论是从内部信息不对称和激励问题的研究中发展而来的。根据代理理论,经济资源的所有者是委托人,负责使用和控制这些资源的管理者是代理人。而代理理论的中心任务是研究在利益冲突和信息不对称的情况下,客户如何设计最优的契约激励代理人。而如果委托人和代理人的利益不完全一致,委托人在信息不利的情况下又不能完全对代理人进行监督,代理人出于自身利益的动机,而对委托人造成损害,就会造成代理人问题。本文首先对代理理论的相关理论进行梳理,然后结合案例对相关理论进行分析,最后就如何解决问题提出建议。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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