Governance and Moral Risk: New Approaches
OAlia Gabriela Duta and
Victor MihaÌ†itÌ¦aÌ† Duta
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OAlia Gabriela Duta: University of Craiova
Victor MihaÌ†itÌ¦aÌ† Duta: Court of Auditors of Romania
Finante - provocarile viitorului (Finance - Challenges of the Future), 2018, vol. 1, issue 20, 85-96
In agent theory, managers occupy a central place. The central position of managers contributed to the development of management sciences (Charreaux, 2000). Initially, agent theory emerged as a financial theory, but it quickly expanded its influence beyond the financial field (Jensen and Meckling, 1976). The theory of the agent is at the origin of new theoretical fields, for example â€œgovernanceâ€ , especially â€œenterprise governanceâ€ . As far as governance theory is concerned, it has allowed the renewal or extension of analyzes on economic systems (Charreaux, 2004/2005). In this context, it can be mentioned that â€œthe most significant contributions of the TPA are found in the fields of enterprise governance, management control and human resource managementâ€ (Charreaux, 2004/2005, p. 16). Gaudin (2002, p. 10) considers that â€œthe term governance is a way of seeing, a framework of analysis and a language to define and solve multiple problems. Moreover, governance is a clinical examination apparatus to increase performance and a mental tool for the organizational and architectural design of any economic and social entity.â€
Keywords: egovernance; good governance; moral hazard; agent theory (search for similar items in EconPapers)
JEL-codes: E32 G14 (search for similar items in EconPapers)
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