Agent Troubleshooting Mechanisms: At the Confluence of Law and Economics

Alia Gabriela DUȚĂ and Victor DUȚĂ
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Alia Gabriela DUȚĂ: University of Craiova
Victor DUȚĂ: Romanian Court of Accounts

Finante - provocarile viitorului (Finance - Challenges of the Future), 2020, vol. 1, issue 23, 71-81

Abstract: In his work Wealth of Nations (1776), Adam Smith is the first researcher to address the issues of ownership and control. Then, after 156 years, Adolf Besle and Gardiner Means, in The Modern Corporation and Private Property (1932), develop the issue of the separation of ownership and control. After another 44 years, Jensen and Meckling (1976) draw attention to the predominance of firms with small share capital. The work of the two researchers, a 55-page article, becomes the most cited bibliographic reference. Specialists in organizational economics, management sciences, and especially finance specialists and researchers will report on this article. Immediately after publication, Jensen and Meckling (1976) laid the groundwork for Positive agency theory (PAT).

Keywords: positive agent theory; agent normative theory; solution mechanisms; agent problems (search for similar items in EconPapers)
JEL-codes: E52 E58 F33 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2021:i:23:p:71-81

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