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Article: Principal-agent Theory Based Risk Allocation Model for Virtual Enterprise
Title | Principal-agent Theory Based Risk Allocation Model for Virtual Enterprise |
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Authors | |
Keywords | Virtual Enterprise Risk Allocation Principal-Agent Theory Risk Aversion Common Agency |
Issue Date | 2010 |
Publisher | Scientific Research Publishing, Inc. The Journal's web site is located at http://www.scirp.org/journal/jssm/ |
Citation | Journal of Service Science and Management, 2010, v. 3 n. 2, p. 241-249 How to Cite? |
Abstract | In this paper, we consider a risk analysis model for Virtual Enterprise (VE) by exploring the state of the art of the principal-agent theory. In particular, we deal with the problem of allocating the cost of risk between two parties in a VE, namely, the owner and the partner(s). We first consider the case of a single partner of VE with symmetric information or asymmetric information and then the case of multiple partners. We also build a model for the optimal contract of the risk allocation based on the principal-agent theory and analyze it through specific example. At last we consider the case of multiple principal with potentially many partners based on common agency. |
Persistent Identifier | http://hdl.handle.net/10722/224725 |
ISSN |
DC Field | Value | Language |
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dc.contributor.author | Huang, M | - |
dc.contributor.author | Chen, K | - |
dc.contributor.author | Ching, WK | - |
dc.contributor.author | Siu, KTK | - |
dc.date.accessioned | 2016-04-13T06:13:58Z | - |
dc.date.available | 2016-04-13T06:13:58Z | - |
dc.date.issued | 2010 | - |
dc.identifier.citation | Journal of Service Science and Management, 2010, v. 3 n. 2, p. 241-249 | - |
dc.identifier.issn | 1940-9893 | - |
dc.identifier.uri | http://hdl.handle.net/10722/224725 | - |
dc.description.abstract | In this paper, we consider a risk analysis model for Virtual Enterprise (VE) by exploring the state of the art of the principal-agent theory. In particular, we deal with the problem of allocating the cost of risk between two parties in a VE, namely, the owner and the partner(s). We first consider the case of a single partner of VE with symmetric information or asymmetric information and then the case of multiple partners. We also build a model for the optimal contract of the risk allocation based on the principal-agent theory and analyze it through specific example. At last we consider the case of multiple principal with potentially many partners based on common agency. | - |
dc.language | eng | - |
dc.publisher | Scientific Research Publishing, Inc. The Journal's web site is located at http://www.scirp.org/journal/jssm/ | - |
dc.relation.ispartof | Journal of Service Science and Management | - |
dc.rights | This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. | - |
dc.subject | Virtual Enterprise | - |
dc.subject | Risk Allocation | - |
dc.subject | Principal-Agent Theory | - |
dc.subject | Risk Aversion | - |
dc.subject | Common Agency | - |
dc.title | Principal-agent Theory Based Risk Allocation Model for Virtual Enterprise | - |
dc.type | Article | - |
dc.identifier.email | Chen, K: guikechen@sina.com.cn | - |
dc.identifier.email | Ching, WK: wching@HKUCC.hku.hk | - |
dc.identifier.email | Siu, KTK: tksiu@graduate.hku.hk | - |
dc.identifier.authority | Ching, WK=rp00679 | - |
dc.description.nature | published_or_final_version | - |
dc.identifier.doi | 10.4236/jssm.2010.32029 | - |
dc.identifier.hkuros | 180487 | - |
dc.identifier.volume | 3 | - |
dc.identifier.issue | 2 | - |
dc.identifier.spage | 241 | - |
dc.identifier.epage | 249 | - |
dc.publisher.place | United States | - |
dc.identifier.issnl | 1940-9893 | - |