Institutional aspects of intraeconomic relations

Alla Leonidivna Partsyrna


Abstract


The article summarizes approaches to understanding the nature of intraeconomic relations. It is emphasized that the usage of the neoclassic economic theory does not allow to solve the problem of congruence of economic interests of intrafirm relation participants. The author has investigated possibilities of using the methodology of the institutional approach in intrafirm relations. On the basis of analysis of foreign and national experience it is proposed to apply a concept of the institutional theory, namely agency theory. It allows to consider intrafirm relations not in the framework of production specialization which focuses on separate elements rather as a phenomenon that covers institutional, economic, social, cultural aspects of organizations and individuals. The author has investigated the main problems arising as a result of asymmetry in information provision namely moral hazard, adverse selection and hold up problems as well as the ways of their solution. 


Keywords


agency theory; information asymmetry; moral hazard; adverse selection; hold up problem

Full Text:

PDF

References


Karichkovskyi, V. D. (2003). Intrafirm economic relations at agricultural enterprises in post reform period [Vnutrishnyogospodarski ekonomichni vidnosyny v silskogospodarskykh pidpryemstvakh u poreformenyi period]. Kyiv.

Vasina, K. S. (2006). Improvement of transfer pricing in the system of an enterprise’s internal economic mechanism [Vdoskonalennia transfertnoho tsinoutvorennia v systemi vnutrishnyoho mekhanizmu pidpryiemstva]. Кyiv.

Mukhametgaliev, I. N. (2004). Organization of intraeconomic relations at agricultural organizations based on budgeting [Organizatsia ekonomicheskikh otnosheniy v selskokhozyastvennykh organizatsiyakh na osnove biudzhetirivania]. Kazan.

Yagfarov, О. М. (2003). Organization of intraeconomic relations at agricultural enterprises [Organizatsia vnutrikhozyastvennykh otnosheniy na selskokhozyastvennykh predpriyatiyakh]. Moskow.

Borodin, N. N. (1974). Economic interests and intraeconomic settling [Ekonomicheskie interesy i vnutrikhozyastvenniy raschet]. Perm.

Lukianov, V. N. (2004). The development of intraeconomic relations at agricultural enterprises (based on materials of the Republic of Bashkortostan). Ufa.

Pustoviit, R. F. (2005). Institutional specifics of investigating principal-agent intrafirm relations [Institutsionalna spetsifika doslidzhen vnitrishnyofirmovykh vidnosyn “pryntsypal-ahent”]. Scientific works of DonNTU. Series: Economic, 89-2, 14-21.

Yokhna, М. А. (2002). Transaction costs: substance, significance, problems of measurement and planning [Transaktsiini vytraty; sutnist, znachennia, problemy vymiriuvannia ta planuvannia. Bulletin of Technological University of Podillia. Economic Sciences, 5 (2), 31-36.

Bulieiev, I. P. (2004). The Essence of transaction costs in the market economy [Sushchnost transaktsionnykh zatrat v rynochnoi ekonomike]. Library.donntu.edu.ua. Retrieved March 25, 2013, from http://library.donntu.edu.ua/fem/vip70/70_15.pdf.

Kozachenko, G. V., Makukhin, G. A. (2004). General indicators of evaluation of an enterprise’s transaction costs [Zagalni pokaznyky otsinky transaktsiinykh vytrat pidpryiemstva]. Regional Perspectives, 3-5 (40-42), 7-9.

Zamaziy, О. V. (2009). Accounting interpretation of transaction costs under conditions of information asymmetry [Oblikova interpretatsia transaktsiinykh vytrat v umovakh asymetrii informatsii]. Bulletin of Khmelnitsk National University, 1(6), 152-156.

Yokhna, М. А. (2007). Concepts of institutional economic theory in managing the development of socio-economic systems [Konseptsii instytutsionalnoi ekonomichnoi teorii v upravlinni rozvutkom sotsialno-ekonomichnykh system]. Khmelnitsk: KhNU.

Mitnick, B. (2013, March 25). Origin of the Theory of Agency: An Account by Оne of the Theory’s Originators. SSRN.com. Retrieved March 25, 2013, from http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1020378

Picot, A., Reichwald, R. & Wigand, R. (2008). Information, Organization and Management. Berlin Heidelberg: Springer Verlag.

Chapman C., Hopwood A. & Shields, M. (2007). Handbooks of Management Accounting Research. Kidlington: Elsevier Science.

Voronova, Ye. Yu. (2012). Institutional aspects of management accounting. Moskva.

Groves, T. (1973). Incentives in teams. Econometric, 41, 617-631.

Chow, C.W., Cooper, J.C. & Waller, W.S. (1988). Participative budgeting: effects of a truth inducing pay scheme and information asymmetry on slack and performance. The Accounting Review, 63, 111-122.

Waller, W.S. (1988). Slack in participative budgeting: the joint effects of a truth-inducing pay scheme and risk preferences. Accounting, Organizations and Society, 13, 87–98.


Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM

Refbacks

  • There are currently no refbacks.




Copyright (c)



 

Articles are distributed under Creative Commons Attribution  International 4.0 (CC-BY-NC 4.0) 


Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa


© West Ukrainian National University

© «Ekonomichnyy analiz», 2007-2023