期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2012
卷号：12
期号：1
语种：English
出版社：Ovidius University Press
摘要：This article wants to design a liaison between the world economic crisis and agency theory,trying to determine if the current crisis is a consequence of the common corporate governance practices. More specifically,it indicates that these practices lead to excessive risk taking,like subprime mortgage securities,because they have no penalty for the manager,or don’t damage his wealth in the case of collapse. Simultaneously,golden parachutes and other exit packages incite termination of the employment agreement since they reward failure,and provide little incentive for the executives to perform properly.
