Can Private Learn From Public Governance ?  

Oleh:

Benz, Matthias ; Frey, Bruno S.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 115 no. 507 (Nov. 2005), page F377-F398.
Topik: public; private; public governance
Fulltext: F377.pdf (127.48KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.20 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Corporate governance is importantly based on agency theory and relies on extrinsic incentives to align the interests of managers, employees and shareholders. This article argues that in view of recent corporate scandals, private governance can learn from public governance : (1) Goal - oriented intrinsic motivation of agents should be supported by fixed incomes and an extensive selection process of employees ; (2) Extrinsic, but non - monetary incentives (e. g. conferring orders and titles) can be used ; (3) The power of actors should be restricted by a clear division of power, appropriate rules of succession and institutionalised competition for positions in firms.

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