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A Model of Corporate Governance As a System

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dc.creator Heinrich, Ralph P.
dc.date 1999
dc.date.accessioned 2013-10-16T06:56:44Z
dc.date.available 2013-10-16T06:56:44Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17791
dc.identifier ppn:271663987
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17791
dc.description This paper provides a rationale for the coexistence of different systems of corporate governance based on the multitude of agency problems typically to be governed within a given firm. Because there are complementarity and substitution relationships between governance instruments, specific combinations of instruments which reinforce each other in minimizing agency costs fit together better than alternative combinations. We derive comparative static results showing how various governance instruments can be combined to form a coherent system of corporate governance and how changes in exogenous parameters can lead to simultaneous, systemic changes in the instruments used.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 931
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject D23
dc.subject G30
dc.subject ddc:330
dc.subject Corporate governance
dc.subject Complementarity
dc.subject Agency problem
dc.subject Corporate Governance
dc.subject Führungsorganisation
dc.subject Agency Theory
dc.title A Model of Corporate Governance As a System
dc.type doc-type:workingPaper


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