Managing Agency Problems in Early Shareholder Capitalism: An Exploration of Liverpool Shipping in the 18th Century

2012 ◽  
Author(s):  
Brian S. Silverman ◽  
Paul L. Ingram
Author(s):  
Prem Sikka

It is often claimed that the ownership structure and the close involvement of family members alleviates agency problems and gives them a long-term orientation compared to a corporation with dispersed shareholding and control. Through a case study relating to the demise of BHS, one of the biggest UK retailers, the chapter probes these claims. BHS was an epitome of shareholder capitalism. It was owned and controlled by Sir Philip Green and his family. The control enabled the Green family to extract large amounts of cash from BHS through dividends and complex intragroup transactions, with virtually no questions from board members, regulators or auditors. The flawed corporate governance of BHS inflicted considerable hardship on other stakeholders. The demise of BHS should encourage reflections on the claims (agency theory) that an alignment of the interests of shareholders and directors somehow leads to better governance and socially responsible management.


2017 ◽  
Vol 13 (4) ◽  
pp. 13-21
Author(s):  
Sh M Khapizov ◽  
M G Shekhmagomedov

The article is devoted to the study of inscriptions on the gravestones of Haji Ibrahim al-Uradi, his father, brothers and other relatives. The information revealed during the translation of these inscriptions allows one to date important events from the history of Highland Dagestan. Also we can reconsider the look at some important events from the past of Hidatl. Epitaphs are interesting in and of themselves, as historical and cultural monuments that needed to be studied and attributed. Research of epigraphy data monuments clarifies periodization medieval epitaphs mountain Dagestan using record templates and features of the Arabic script. We see the study of medieval epigraphy as one of the important tasks of contemporary Caucasian studies facing Dagestani researchers. Given the relatively weak illumination of the picture of events of that period in historical sources, comprehensive work in this direction can fill gaps in our knowledge of the medieval history of Dagestan. In addition, these epigraphs are of great importance for researchers of onomastics, linguistics, the history of culture and religion of Dagestan. The authors managed to clarify the date of death of Ibrahim-Haji al-Uradi, as well as his two sons. These data, the attraction of written sources and legends allowed the reconstruction of the events of the second half of the 18th century. For example, because of the epidemic of plague and the death of most of the population of Hidatl, this society noticeably weakened and could no longer maintain its influence on Akhvakh. The attraction of memorable records allowed us to specify the dates of the Ibrahim-Haji pilgrimage to Mecca and Medina, as well as the route through which he traveled to these cities.


ALQALAM ◽  
2016 ◽  
Vol 33 (1) ◽  
pp. 46
Author(s):  
Aswadi Lubis

The purpose of writing this article is to describe the agency problems that arise in the application of the financing with mudharabah on Islamic banking. In this article the author describes the use of the theory of financing, asymetri information, agency problems inside of financing. The conclusion of this article is that the financing is asymmetric information problems will arise, both adverse selection and moral hazard. The high risk of prospective managers (mudharib) for their moral hazard and lack of readiness of human resources in Islamic banking is among the factors that make the composition of the distribution of funds to the public more in the form of financing. The limitations that can be done to optimize this financing is among other things; owners of capital supervision (monitoring) and the customers themselves place restrictions on its actions (bonding).


Author(s):  
M. McNEIL

Erasmus Darwin was the focus and embodiment of provincial England in his day. Renowned as a physician, he spent much of his life at Lichfield. He instigated the founding of the Lichfield Botanic Society, which provided the first English translation of the works of Linnaeus, and established a botanic garden; the Lunar Society of Birmingham; the Derby Philosophical Society; and two provincial libraries. A list of Darwin's correspondents and associates reads like a "who's who" of eighteenth century science, industry, medicine and philosophy. His poetry was also well received by his contemporaries and he expounded the evolutionary principles of life. Darwin can be seen as an English equivalent of Lamarck, being a philosopher of nature and human society. His ideas have been linked to a multitude of movements, including the nosological movement in Western medicine, nineteenth century utilitarianism, Romanticism in both Britain and Germany, and associationist psychology. The relationships between various aspects of Darwin's interests and the organizational principles of his writings were examined. His poetical form and medical theory were not peripheral to his study of nature but intrinsically linked in providing his contemporaries with a panorama of nature. A richer, more integrated comprehension of Erasmus Darwin as one of the most significant and representative personalities of his era was presented.


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