BUSINESS论文代写 代理相关理论

本公司丑闻表明公司治理中利益相关者理论的重要性。与代理理论、利益相关者理论被认为是更大范围的组织和更适合大公司更强大的和有啤酒市场。也就是说,代理理论是基于自身利益,公司需要使用他们的日常管理。

交易成本理论也对代理理论的一个补充。1937年科斯提出了交易成本理论。它说不确定环境和边界的合理性,扭曲市场操作。它会导致交易成本并解释公司现有组织(科斯,1937)。他认为,当经济学家忽视人性的真理,认为市场成功运作。实际上,人类影响营销操作。他们关注组织和忽略的成本操作(科斯,1937)。

威廉姆森认为,交易成本是系统操作的经济成本,所有交易成本发生在订立合同的过程(威廉姆森,Masten,1995)。2008年,塑料生产公司Polyteak想抓住机会2008年奥运会在中国的合同项目在中国湖南。不幸的是,因为当地的法律只允许公司有自己的品牌产品承包工程,Polyteak创立自己的品牌,但它会增加生产成本(迈耶,雌酮,2014)。这个例子表明,交易成本是出现在交易的过程,因此需要找到一个很好的方式来协调和平衡其效益和成本。根据不同的事务字符,它需要不同的治理结构来管理这一贸易减少交易的交易成本理论(宾,1995)。

哈特(1995)批评了交易成本理论。交易成本理论专注于内部交易成本,减少股东股权的代理成本。但它有可能增加的债务代理成本。例如,债务融资会引起股东和债权人之间的利益冲突。这一理论注重内部交易成本而忽略外部交易成本(哈特,1995)。

代理理论是为解决代理问题和增加公司的价值,防止减少公司价值(Pulman 2011)。交易成本理论和代理理论的区别在于,代理理论失去边界合理性和机会主义,导致了代理成本。同时,它缺乏理性边界,所以导致完整的合同不是逻辑性和没有说服力(威廉姆森,Masten 1995)。契约理论包括代理理论、不完全契约理论和交易成本理论,这些理论是相互补充和重要解释公司治理(巴恩斯、总值和雷纳1986)。交易成本理论认为,在公司的内部交易成本。为了提高公司的性能,需要选择一个好的组织结构,降低企业内部的交易成本。每个部门的公司持有自己的决策权和责任为自己的利润或损失,但也有监督机制。它可以降低企业的交易成本(Pulman,2011)。所以在这种方式,代理理论和交易成本理论有相同的对象的降低企业成本,增加企业的价值。交易成本理论是代理理论的补充。

BUSINESS论文代写 代理相关理论

This company scandal showed the importance of stakeholder theory in corporate governance. Compared to agent theory, stakeholder theory has considered a larger range of groups and is more suitable for big companies which are more powerful and have lager markets. That is to say, the agency theory is based on the self-interest, the companies need to use both of them in the daily management.
Transaction cost theory is also a complement for agency theory. Coase put forward the transaction cost theory in 1937. It says that indetermination of environment and boundary rationality, which distort market operation. It causes the transaction cost and explains firm organization existing (Coase, 1937). He thinks that when economists   ignore the truth of humanity and think market operates successfully. Actually, humanity affects marketing operation. They pay attention to organization and ignore the cost of operation (Coase, 1937).
 
Williamson think that transaction cost is the cost of the economy of system operation, all transaction cost take place in the process of making a contract (Williamson, and Masten, 1995). In 2008, the plastic production company Polyteak wanted to catch opportunities of 2008 Olympic Games in China to contract projects in Hunan province in China. Unfortunately, because the local law only allows firms which have their own brand products to contracted projects there, Polyteak founded own brand, but it increases cost of production (Meyer, and Estrin, 2014). This example shows that the transaction cost is appeared in the transaction process, so it need to find a good way to coordinate and balance its benefit and cost. According to different transaction characters, it needs different governance structure to manage this trade to reduce the transaction cost in transaction theory(Pym, 1995).
 
Hart (1995) criticizes the transaction cost theory. Transaction cost theory focus on internal transaction cost, which decreases the agency cost of shareholders equity. But it`s possible to increase agency cost of debt. For example, debt financing causes the conflict of interest between shareholders and creditor. This theory pays attention to internal transaction cost and ignores external transaction cost (HART, 1995).
 
Agency theory is for solving the agency problems and increasing value of firms, preventing from decreasing company value (Pulman 2011). The difference between transaction cost theory and agency theory is that agency theory loses boundary rationality and opportunism, which leads to agency cost. Meanwhile, it lacks boundary rationality, so it causes complete contract is not logicality and unconvincing (Williamson, and Masten 1995). Contract theory includes agency theory, incomplete contract theory and transaction cost theory, these theories are complement each other and important to explain the corporate governance (Barnes, Gross, and Rayner 1986). Transaction cost theory says that transaction cost in the firm`s internal. In order to improve firm performance, it need to choose a good organization structure and reduce firms internal transaction cost. Each department of firms hold their own decision-making authority and sole responsibility for their own profit or losses, but it also have the supervision mechanism. It can reduce the firms` transaction cost (Pulman, 2011). So in this way, agency theory and transaction cost theory have the same object of reducing cost of firms and increase value of firms. Transaction cost theory is the complement for agency theory.