Corporate Design for Regulability: A Principal-Agent-Supervisor Model

Christoph Engel

Journal of Institutional and Theoretical Economics (JITE), 2006, vol. 162, issue 1, 104-124

Abstract: Corporate actors differ from individuals in that it may be possible to observe the formation of the corporate will from outside, and to influence its formation. This feature can be exploited by regulators. One technique is inducing corporate actors to hire an interface actor, representing the regulatory cause in the interior of the firm. Vice versa, firms may induce the regulator to give an interface actor access to the regulatory arena. This interface actor has the task of representing the commercial cause in regulatory decision-making. The paper uses a principal-agent-supervisor model to analyze the setting.

JEL-codes: C72 D23 D73 K22 K23 K32 L51 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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Working Paper: Corporate Design for Regulability. A Principal-Agent-Supervisor Model (2005)
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