Home  Journals  Finance and Credit  10(586) - 2014 March

Internal corporate agency conflicts and their classification

Available online: 10 March 2014

Subject Heading: Financial management

JEL Classification: 

Pages: 25-30

The article points out that the issue of agency and inherently related agency conflicts, despite the many references dealing with issues explain why and how to prevent conflicts of agents and principals from a position of financial management has not lost its relevance. The authors explain by prevalence of joint-stock form of ownership and transfer of function of management peculiar to it in hands of hired managers. The paper investigates types of the external and internal agency relations and gives classification of the intra corporate agency conflicts depending on participating subjects, places of emergence, the directions of a perspective, a method of their decision and existence of agency expenses.

Keywords: agency relations, intra corporate agency conflicts, financial control, agency expenses

References:

1. Ang D.S., Koul R.A, Lin D.V. Agentskie izderzhki i struktura sobstvennosti [Agency expenses and property structure]. Finansy – Finance, 2000, no. 55.
2. Brighem Ju., Jerhard M. Finansovyj menedzhment [Financial management]. St.Petersburg, Piter Pabl., 2005.
3. Dolgopiatova T.G. Jempiricheskij analiz korporativnogo kontrolja v rossijskih kompanijah: kogda krupnye akcionery othodjat ot ispolnitel'nogo upravlenija? [The empirical analysis of corporate control in the Russian companies: when do major shareholders depart from executive management?]. Rossijskij zhurnal menedzhmenta – Russian magazine of management, 2007, no. 3.
4. Kovalev V.V., Libman A.V. Upravlenie agentskimi izderzhkami v korporacii: Vvedenie v problem [Management of agency expenses in corporation: Introduction in problem]. Vestnik Sankt-Peterburgskogo universiteta. Serija: Jekonomika – Messenger of the St. Petersburg University. Series: Economy, 2001, Release 4.

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