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Funkcja kontrolna rady nadzorczej a redukcja kosztów agencji

100%
Bohdanowicz L.
Zarządzanie i Finanse
|
2012
|
vol. 4
|
issue 1
53-68
EN
The main aim of the paper was the presentation of the results on the influence of supervisory boards on agency costs reduction in Polish listed companies. The research examines agency theory and helps to evaluate two-tier board model. The sample consisted of 520 observations on 266 non-financial companies listed on the Warsaw Stock Exchange. I had conducted panel data analysis and supported the hypotheses that board structure i.e. percentage of supervisory (non-executive) board members in comparison to management (executive) board members positively affects agency costs reduction measured as selling, general and administrative expense ratio and board size negatively affects agency costs reduction.
2

HOW DOES CORRUPTION IN CENTRAL AND EASTERN EUROPE HURT ECONOMIC GROWTH? GRANGER TEST OF CAUSALITY

88%
Grochová L., Otáhal T.
Ekonomický časopis (Journal of Economics)
|
2013
|
vol. 61
|
issue 6
563 – 577
EN
The paper explains theoretical framework of how corruption hurts economic growth and reveals its application difficulties. Comparing views on corruption in terms of the problem of agency and the problem of rent-seeking we argue that corruption in general is the problem of legal setting and its enforcement and, if badly established, it does not promote economic growth. To verify the theoretical argument we present empirical Granger causality test to demonstrate that corruption precedes economic growth in Central and Eastern Europe. This means that legal setting and its enforcement rather allow for rent-seeking than promote economic growth. As a consequence we emphasize the necessity to focus on institutional framework to fight corruption and support economic growth.
3

W jakich teoriach będziemy szukali odpowiedzi na pojawiające się problem ekonomiczne? Teorie firmy w nowej ekonomii instytucjonalnej

75%
Matuszak M.
Roczniki Naukowe Wyższej Szkoły Bankowej w Toruniu
|
2010
|
issue 9
33-46
EN
The article presents basic assumptions and new theories of the firm connected with New Institutional Economics (NIE). NIE is regarded as a stream of research which enlarges and enriches the neoclassical economics. NIE, focuses on the phenomena ignored by the traditional economics. The research field of NIE is very diversified but the adhesive which integrates all its streams is the idea that the main determinants of the development are institutions. The following part of the article contains a brief presentation of the notion, the significance and the types of institutions. It is stated that the market and its mechanisms depend on the characteristics of institutions which define its naturę. Next the article presents briefly new theories of the firm related to NIE — the moral hazard or agency- theoretic approach, transaction cost economics approach and „capabilities" approach. The last part of the article examines the importance of institutions for creating the competitive advantage of a firm and of economies.
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