Efficient monitoring and control in intangibles-driven economies: is full independence always required?

Biondi, Yuri ; Giannoccolo, Pierpaolo ; Reberioux, Antoine (2009) Efficient monitoring and control in intangibles-driven economies: is full independence always required? Bologna: Dipartimento di Scienze economiche DSE, p. 18. DOI 10.6092/unibo/amsacta/4582. In: Quaderni - Working Paper DSE (664). ISSN 2282-6483.
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Abstract

The current crisis puts at issue the self-regulated market system of monitoring and control. Claims for restoring the proper functioning of market economies in general, and financial markets in particular, call for either establishing new sets of rules or creating new supervising authorities. Both claims rely on the received mantra of full independence that applies whenever control is concerned. However, our analysis pays attention to a neglected aspect of monitoring and control, which requires the capability to discovering and understanding flaws in and dangers from the inner congeries of the business affair under examination. Arguably, this businessspecific expertise and independence trade off. To overcome this problem, an optimal share of non-independent controllers may be chosen from or appointed by stakeholding constituencies of the business affair. They can provide proficient monitoring and control without colluding, in principle, with executive managers of the activity to be controlled.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Biondi, Yuri
Giannoccolo, Pierpaolo
Reberioux, Antoine
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ISSN
2282-6483
DOI
Deposit date
12 Feb 2016 12:39
Last modified
12 Feb 2016 12:39
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