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：2
语种：English
出版社：Ovidius University Press
摘要：Agency theory was first developed by Jensen and Meckling. This theory has made substantial additions in financial theory because the corporation is not approached from unique perspective,that the shareholders and maximise their wealth,but try to offer solutions to harmonize the interests of stakeholders. In his business,company management must consider conflicts arising from bringing together a multitude of interests. If not recognized and properly regulated,these conflicts can jeopardize the effectiveness and may lead to reduced market value of the firm. Agency theory integrates the complexity of decision making within the firm,arguing the composition of the financial structure of the firm to maximize its value. Considering these circumstances,our paper examines application of the agency theory in Romania.
关键词：Corporate governance;conflicts of interest;stakeholders
