the
eedtooperatewithi
adefi
edlegalstructure
高顿财经ACCA
f（3）Corporategover
a
cesystemsaredesig
edtoe
forcethisaccou
tabilityforpri
cipalResolvi
gtheage
cyproblem（1）Alig
me
tofi
terestsisaccorda
cebetwee
theobjectivesofage
tsacti
gwitha
orga
izatio
a
dtheobjectivesoftheorga
izatio
asawhole（2）Alig
me
tofi
terestsmaybeachievedbygivi
gma
agersprofitrelatedpayori
ce
tivesthatarerelatedtoprofitsorsharepriceTra
sactio
coststheoryStakeholdertheoryTra
sactio
coststheory（1）Thewaythecompa
yisorga
izeda
dgover
eddetermi
esitsco
trolovertra
sactio
s（2）Outsidetra
sactio
occurcostssuchassearchi
ga
dbargai
i
gcostsKeepi
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sactio
i
ter
allymayreducetheu
certai
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gwithoutside（3）I
termsoftra
sactio
costscompa
yco
sidertowhetheri
ter
alizetheirtra
sactio
ordealwithoutside（4）Ma
agerbehaveratio
allya
dopportu
isticallytoorga
izetheirtra
sactio
topursuetheirow
i
terests（5）Assetspecificitycertai
tya
dfreque
cyarethreevariablesco
sideredbycompa
ytodetermi
ethedegreeofmo
itori
ga
dco
trol（6）Corporategover
a
cecostsbuildupi
cludi
gi
ter
alco
trolstomo
itorma
ageme
t（7）Tra
sactio
coststheoryissimilartoage
cytheorytoe
surethatcompa
yma
agerspursueshareholder’sbesti
terestsrathertha
theirow
Stakeholdertheory
高顿财经ACCA
f（1）Stakeholdertheoryisbasedo
compa
iesbei
gsolargethattheyare
oto
lyrespo
sibletotheirshareholdersbuthaveasig
ifica
timpacto
society（2）Stakeholdersaffectorbeaffectedbycompa
iesi
cludeshareholdersemployeescustomerssupplierscreditorscommu
itygover
me
ta
de
viro
me
tetc（3）Stakeholdertheorymaybethe
ecessaryoutcomeofage
cytheoryAge
cytheoryisa
arrowformofstakeholdertheoryBothofthemhavethepurposeofalig
i
gdiverge
ti
terestsRoleRespo
sibilitiesofBoardofdirectors（1）Promotethesuccessofthecompa
y（2）Directa
dsupervisethecompa
yaffairs（3）Providee
trepre
eurialleadership（4）E
ablerisktobeassessedma
ageda
daprude
teffectiveco
trolsystem（5）Setcompa
y’sstrategicaims（6）E
sure
ecessaryfi
a
ciala
dhuma
resourcesi
placeformeeti
gobjectives（7）Reviewma
ageme
tperforma
ce（8）Setthecompa
y’svaluesa
dsta
dards（9）E
surecompa
y’sobligatio
stoitsstakeholdersaremet（10）Mo
itori
gtheCEO（11）Ma
agepote
tialco
flictsofi
terests（12）E
sureeffectivecommu
icatio
i
ter
allya
dexter
allyU
itaryboardsvstwotierboards
高顿财经ACCA
fAdva
tagesdisadva
tagesofu
itaryboards（Adva
tages）（1）Itisastructurethatpermitsmuchmorei
volveme
tAlldirectorsi
cludi
gexecutivedirectorsa
d
o
executivedirectorshavetheequallegalrespo
sibilitiesforthema
ageme
tor