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Separation of ownership and control

The purpose here is to explain the survival of organizations characterized by separation of ownership and control. The separation of decision and risk-bearing functions observed in large corporations is common to other organizations, such as large professional partnerships, financial mutuals, and nonprofits. The separation of decision and risk-bearing functions survives in these organizations in part because of the benefits of specialization of management and risk bearing, but also because of an effective common approach to controlling the agency problems caused by separation of decision and risk-bearing functions. In particular, the contract structures of all of these organizations separate the ratification and monitoring of decisions from initiation and implementation of the decisions. The common apex of the decision control systems of organizations, large and small, in which decision agents do not bear a major share of the wealth effects of their decisions, is a board of directors.Hardcopy

Ketersediaan

Call NumberLocationAvailable
IM1510522PSB lt.dasar - Pascasarjana1
Penerbit Foundations of Organizational Strategy.,
Edisi -
Subjek Risk
Economic theory
Control
Corporate management
Organizational
structure
Business ownership
Management decisions
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