Management contracts in present fields of the corporate governance
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
In the article one introduced the essence, the meaning and the construction of management contract, as one of forms of the corporate supervision. Also one presented the results of the comparative analysis of the traditional model of the corporate supervision, its modern concept (new corporate governance – NCG) and management contracts. The results of this analysis, as well as the author’s empirical results confirmed the thesis about the usefulness and effectiveness of management contracts as forms of the corporate supervision. One ascertained that rules and tools included in the new concept of the model of the corporate supervision (NCG) were largely analogous with the concept of pragmatics of contracts. Included methodology of the improvement of corporate supervision, with special attention on the development of the board of directors (the man-agement), can be the grounds of further analysis and the improvement of man-agement contracts. In the article one presented the discussion about basic notions from the range of the corporate supervision, management contracts and the matter of the apprehension and the interpretation of the theory of the agency. One described widely the construction of management contract and one gave the terms of its use. Referring to the concept of NCG one characterized the essence of the inte-grated, strategic management of the board of directors along with descriptions of components of this management, i.e.: the context, the strategy, the organization and monitoring. One also emphasizes advantages of the practical usage of this model.
Authors and Affiliations
Leszek Kozioł
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