Issue 1, 2005

Libman A. V. Theoretical Aspects of Agency Problem in Corporation

This article examines the theoretical issues of the agency costs in the corporate area. The author looks at the logic of agency theory evolution, analyses the notion and the classification of agency costs. The special attention is paid to the phenomenon of corporate relations subject combining the functions of the principal and the agent. The author presents the concept of the agency cost management and the classification of corporate governance mechanisms reducing the level of agency costs.

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