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Monitoring and Consulting by an Imperfect Supervisor

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  • Peter Nippel

Abstract

A supervisory board might be seen as an advantageous element of corporate governance. Whether supervision of management is actually beneficial is analyzed under the assumption that the supervisor is not immune to misjudgment as a monitor or may not be a good consultant. The benefits of having such an imperfect supervisor outweigh the costs only if the quality of supervision is not too low. But if the supervisor's monitoring is simply an element of a bonus scheme, no negative efficiency effect needs to be considered, no matter how good the monitoring is. In this respect a robust supervision design exists.

Suggested Citation

  • Peter Nippel, 1999. "Monitoring and Consulting by an Imperfect Supervisor," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(1), pages 136-136, March.
  • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(199903)155:1_136:macbai_2.0.tx_2-j
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    Cited by:

    1. D. Paul Newman & Kirill E. Novoselov, 2009. "Delegation to Encourage Communication of Problems," Journal of Accounting Research, Wiley Blackwell, vol. 47(4), pages 911-942, September.
    2. Neunzig, Alexander R., 2002. "Effiziente Fixlohnverträge für arbeitsfreudige Arbeitnehmer mit Berichtspflichten," CSLE Discussion Paper Series 2002-05, Saarland University, CSLE - Center for the Study of Law and Economics.
    3. Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre (Ed.), 2000. "Jahresbericht 1999," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 522, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.

    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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