Organizational economics: the agency and transaction cost theories

Vaszkun, Balázs György ORCID: https://orcid.org/0000-0002-2085-6549 (2024) Organizational economics: the agency and transaction cost theories. In: International Management and Organisation: Insights from the Institute of Strategy and Management at Corvinus University of Budapest. Corvinus University of Budapest, Budapest, pp. 41-46. . ISBN 978-963-503-955-5

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Abstract

The section on agency and transaction cost theories focus on the governance of firms and the potential conflicts between owners (principals) and managers (agents). Agency theory addresses information asymmetry, where managers may pursue self-interested goals rather than those of shareholders. Transaction cost theory explains how firms internalise transactions to reduce costs associated with market inefficiencies. Both theories are crucial for understanding corporate governance and managerial behaviour in global contexts (Vaszkun, 2024d)

Item Type:

Book Section

Divisions:

Institute of Strategy and Management

Subjects:

Business organisation

ID Code:

10612

Deposited By:

Ádám Hoffmann

Deposited On:

28 Nov 2024 15:11