Agency Theory and its Challenges in Public Management مقاله

خلاصه ماشینی:

The main goal of this theory is the survival of organizations; in other words, by controlling the performance and behavior of the agent, this theory prevents them from abusing the delegated power and, by ensuring the correctness of the agents' performance, provides the possibility for continued activity and investment by shareholders and clients (1304; 1994; Abrahamson) The basis of agency theory is the arrangement and conclusion of contracts between clients and agents (822; 1995; Parks). In total, it can be said that the assumptions of agency theory are formed based on the following three goals; in other words, agency theory attempts to remove the obstacles in the relationship between the agent and the client through the following methods (Hesterly, Barney; 1996): 1- Creating convergence in cases where the interests of clients and agents diverge. Likewise, with this contract, instead of controlling and monitoring the behavior and performance of the agent, clients and shareholders will focus on the results of his actions; this method of control leads to an increase in the authority and freedom of action for the agent and increases his capacity for risk-taking. Among Islamic contracts, Mudarabah is a type of result-based agency contract in which the client provides the necessary capital to the agent, and after performing the activities mentioned in the contract, the agent will share the profits or losses with the client.