Agency theory was propounded by economist Michael C. Jensen and legal scholar William H. Meckling. The theory is based on the assumption that conflicts of interest exist between principals (such as shareholders) and agents (such as company executives) due to differing goals and information asymmetry.
The individual differences theory was propounded by Francis Galton, a British psychologist and statistician. He believed that differences observed among individuals in various traits and abilities were due to both hereditary and environmental factors.
The theory of multiple intelligence was propounded by Howard Gardner in 1983. Gardner proposed that intelligence is not a single, fixed trait, but rather a combination of different types of intelligences, such as linguistic, logical-mathematical, musical, and spatial intelligence, among others.
Agency theory helps to align the interests of principals (shareholders) and agents (managers) by providing incentives for the agent to act in the best interest of the principal. Through mechanisms such as performance-based compensation and monitoring, agency theory aims to reduce agency conflicts and ensure that managers make decisions that maximize shareholder value. Additionally, agency theory provides a framework for understanding the relationships and responsibilities between principals and agents in a business setting.
Some weaknesses of Merton's strain theory include its focus on lower-class crime and its assumption that all individuals strive for the same cultural goals. It also overlooks the role of individual choice and agency in criminal behavior and fails to adequately explain why only some individuals under strain turn to crime.
Agency theory was first articulated by economists Michael C. Jensen and William H. Meckling in the 1970s. They proposed that conflicts of interest between principals (owners) and agents (managers) could potentially lead to agency problems within organizations.
kautiliya propounded saptang theory
darvin
kautilya
aryabhatta
Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.
explain theory of absolute cost advantage as propounded by Adam smith
Isaac newton
thorndike
It is the empirical theory of Causality as propounded by hume.
The Innovation Theory of Profit has been propounded by: F.H. Knights Keynes F.B. Hawley Kent Joesph Schumpeter.
Elton Mayo
TAUSSIG