Oxford University Press (1992)

Authors
Robert Edward Freeman
University of Virginia
Abstract
Agency theory involves what is known as the principal-agent problem, a topic widely discussed in economics, management, and business ethics today. It is a characteristic of nearly all modern business firms that the principals (the owners and shareholders) are not the same people as the agents (the managers who run the firms for the principals). This creates situations in which the goals of the principals may not be the same as the agents--the principals will want growth in profits and stock price, while agents may want growth in salaries and positions in the hierarchy. The fourth volume in the Ruffin Series in Business, this book explores the ethical consequences of agency theory through contributions by ethicists, economists, and management theorists.
Keywords Business ethics  Executives Professional ethics  Corporate culture  Agency (Law
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Call number HF5387.E825 1992
ISBN(s) 0195067983   0195067983   9780195067989
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