The agency problem between management boards members and the Treasury in Polish State Owned Companies
Journal Title: Zarządzanie i Finanse - Year 2015, Vol 13, Issue 1
Abstract
The article concerns the agency problem between management boards members and the Treasury in Polish State Owned Companies. The agency prob- lem in this kind of companies has its own specificities that result from the fact that the Treasury is their sole or major shareholder. The purpose of the article is to identify these specificities. The research is multidisciplinary, comprising an anal- ysis of legal regulations and a survey carried out among members of manage- ment and supervisory boards of state-owned companies and among officials of the Ministry of Treasury supervising these companies. The regulation analysis’s purpose, which results are presented in Chapter 1, was to indicate, how the regu- lation affects the agency problem between management boards members and the Treasury. The survey results, analyzed in Chapter 2, were to identify the prob- lems of functioning of management boards and indicate the determinants of ma- nagement boards members’ actions. Both regulation analysis and the survey re- garded the problem of management boards members remuneration that also determines the agency problem.
Authors and Affiliations
Igor Postuła
Keywords
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- EP ID EP137930
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