@article{ART000896181},
author={Hun Joon PARK and Sang-Joon Kim},
title={Institutionalization of Trust Building Procedure among Corporate Stakeholders},
journal={Journal of Regulation Studies},
issn={1738-7132},
year={2003},
volume={12},
number={2},
pages={137-184}
TY - JOUR
AU - Hun Joon PARK
AU - Sang-Joon Kim
TI - Institutionalization of Trust Building Procedure among Corporate Stakeholders
JO - Journal of Regulation Studies
PY - 2003
VL - 12
IS - 2
PB - 한국규제학회
SP - 137
EP - 184
SN - 1738-7132
AB - This study explores the most desirable corporate governance in order to search for institution to maximize the trust among all stakeholders through the mathematical model and the system dynamics model based on the agency theory. The simulation discovers what factors are critical to solve the agent problem, by which we show the practical and theoretical implications for the development of institution. For solving the agent problem, it is important for managers to let their voluntary will be positive beyond the authoritative view. Legal approach has imperfect remedies because it gives the agent incentives on opportunistic behaviors which are thrived by external attribution for partnership. For making voluntary decisions through building trust among stakeholders, therefore, our results show that the institutionalization of procedure is necessary for building trust via legal, procedural systems which let the members to argue or negotiate their embedded interests, and which make them to communicate in and out of corporate governance.
KW - Corporate Governance;Trust;Institutionalization;Procedure;Agency Theory;System Dynamics
DO -
UR -
ER -
Hun Joon PARK and Sang-Joon Kim. (2003). Institutionalization of Trust Building Procedure among Corporate Stakeholders. Journal of Regulation Studies, 12(2), 137-184.
Hun Joon PARK and Sang-Joon Kim. 2003, "Institutionalization of Trust Building Procedure among Corporate Stakeholders", Journal of Regulation Studies, vol.12, no.2 pp.137-184.
Hun Joon PARK, Sang-Joon Kim "Institutionalization of Trust Building Procedure among Corporate Stakeholders" Journal of Regulation Studies 12.2 pp.137-184 (2003) : 137.
Hun Joon PARK, Sang-Joon Kim. Institutionalization of Trust Building Procedure among Corporate Stakeholders. 2003; 12(2), 137-184.
Hun Joon PARK and Sang-Joon Kim. "Institutionalization of Trust Building Procedure among Corporate Stakeholders" Journal of Regulation Studies 12, no.2 (2003) : 137-184.
Hun Joon PARK; Sang-Joon Kim. Institutionalization of Trust Building Procedure among Corporate Stakeholders. Journal of Regulation Studies, 12(2), 137-184.
Hun Joon PARK; Sang-Joon Kim. Institutionalization of Trust Building Procedure among Corporate Stakeholders. Journal of Regulation Studies. 2003; 12(2) 137-184.
Hun Joon PARK, Sang-Joon Kim. Institutionalization of Trust Building Procedure among Corporate Stakeholders. 2003; 12(2), 137-184.
Hun Joon PARK and Sang-Joon Kim. "Institutionalization of Trust Building Procedure among Corporate Stakeholders" Journal of Regulation Studies 12, no.2 (2003) : 137-184.
