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指导英国essay：Corporate Governance and Corporate Accountability
PART I (Term 1)第一部分
1，Agency theory--Jensen and Meckling 1976 代理理论——Jensen and Meckling 1976
The firm is presented a nexus of contracts between principles and agents.该公司提出了一个原则和代理之间的合同关系。
(shareholders&managers)（股东及管理人员）
The agents will act with rational self-interest-agency cost1，代理将采取理性的自我利益代理成本
2，Stewardship theory(a traditional view)
The traditional notion of the company and its governance is based:
stewardship theory which recognises that there exist non-financial motives for managerial behaviour. These include the need for achievement, recognition, the intrinsic satisfaction of successful performance, respect for authority and the work ethic and reputation(Daily, Dalton and Cannella, 2003)
3，Shareholder or Stakeholder---Stakeholder theory
How a public company fulfils its responsibilities to investors and other stakeholders
A stakeholder in an organization is any group or individual who can affect or is affected by the achievement of the organisation's objectives(Freeman,1984)
Coursework Assignment 1:
Write an essay on key theories that are widely discussed in the academic literature on corporate governance. Critically analyse the strengths and weaknesses of each theory. In your essay, you are expected to compare and contrast these theories and state which theory, in your opinion, best explains the governance mechanisms of listed companies in the UK.
Your essay should be about 1,500 words excluding bibliography. In your essay, you are expected to refer to the articles you have been recommended on the reading list. You are also expected to present an up-to-date review of the literature by referring to a recent number of studies.
最后的结论写出，agency theory 为什么最适合英国的上市公司
1500字
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