agency problem Quick reference
A Dictionary of Economics (5 ed.)
...agency problem The difficulties encountered when a principal delegates a task to an agent. The agency problem arises when the principal and the agent have different objectives and there is asymmetric information and an incomplete contract . The asymmetric information prevents the principal from perfectly monitoring the agent, and the incomplete contract makes it impossible to determine what will occur in all possible contingencies. The principal cannot therefore ensure that the agent always chooses the action the principal would wish to see chosen. Agency...
agency problem Reference library
The Handbook of International Financial Terms
... problem . According to principal-agent theory or analysis the two sides of a financing arrangement can be characterized as principals, those that supply money and capital, and agents, those that carry out the actions intended to meet the expectations of principals. In the context of money and capital markets, principals would comprise banks, investing institutions, and individual shareholders. The managers of the organizations into which the funds flow would be regarded as agents. The central idea behind this analysis, first formalized by Jensen and ...
agency problem
18 Theories of Text, Editorial Theory, and Textual Criticism Reference library
Marcus Walsh
The Oxford Companion to the Book
...an electronic future, will need more than ever to create central and transparent roles for agency, responsibility, and critical intelligence. Bibliography J. H. Bentley , Humanists and Holy Writ (1983) R. Bentley , ed., Q. Horatius Flaccus (1711) — Proposals for Printing a New Edition of the Greek Testament (1721) F. Bowers , ‘Some Principles for Scholarly Editions of Nineteenth-Century American Authors’, SB 17 (1964), 223–8 — ‘Multiple Authority: New Problems and Concepts of Copy-Text’, Library , 5/27 (1972), 81–115 E. Capell , Prolusions; or,...
Empire Reference library
An Oxford Companion to the Romantic Age
...against the French lagged well behind. In the late eighteenth century imperial concerns were untidily divided among a number of governmental agencies as the machinery of government belatedly and inadequately began to catch up with changed imperial realities. Indian affairs largely fell to the Board of Control, commercial matters to the Committee of the Privy Council for Trade and Plantations, while other colonial problems came under the Home Office or, as imperial expansion and warfare became more closely intertwined, under the War Office. It was symptomatic...
Esther Reference library
Carol Meyers and Carol Meyers
The Oxford Bible Commentary
... 1982 ). Others writing with a feminist perspective (e.g. LaCocque 1990 ; White 1989 ; 1992 ) are respectful of such tactics of indirection, which serve as models for the powerless, whether individuals or communities, who struggle to establish and maintain a semblance of agency in their lives. For those who view her positively, Esther becomes a sage in her own right: she dominates the action, surpassing Mordecai and subordinating the king to her will ( Hallo 1983 : 24–5 ). The characterization of Esther in post-biblical Jewish tradition, such as the...
Local Government Quick reference
R. W. Hoyle
The Oxford Companion to Local and Family History (2 ed.)
...Certainly JPs, particularly at times of social stress, were careful to inform central government of local problems. But the financial independence of local from central government allowed many of the formative developments in local government to arise out of local initiatives sanctioned by private Acts of Parliament. These were then adopted elsewhere by private Act before being incorporated in general Acts. Local government, in the modern form of agencies largely funded by central government and undertaking delegated tasks, is of fairly recent origin. Local...
Introduction to the Pauline Corpus Reference library
Terence L. Donaldson
The Oxford Bible Commentary
...because of the power of sin already at work in them: ‘If I do what I do not want, it is no longer I that do it but sin that dwells within me’ ( Rom 7:20 ). The problem posed by sin, then, is only secondarily one of guilt; more fundamentally, the problem is bondage. What is needed is not forgiveness per se ; until the power of sin is nullified, forgiveness does not get at the root of the problem. What is needed, rather, is liberation. 12. Christ's accomplishment, then, is to be seen more fundamentally in terms of a confrontation with sin, breaking its power...
The Reinterpretation of Islam Reference library
Āsaf A. A. Fyzee
Islam in Transition: Muslim Perspectives (2 ed.)
...the belief in one God and His Messengers; but it cannot and ought not to lay down how it can enforce such obedience. By “enforce” is meant ( a ) order the doing of a thing and ( b ) punish its disobedience. How can a matter of faith be a matter of enforcement by an outside agency? A teacher may teach me; he can inspire me by his example; he can fire my enthusiasm. But how can he make me believe? Thus there is a clear difference between a rule of law which can be enforced by the state, and a rule of conscience which is entirely a man's own affair. Today in...
Bio-ethics Reference library
Islam in Transition: Muslim Perspectives (2 ed.)
...manufactured. The Seminar also recommends that countries should be fully vigilant in monitoring such products and complying with the relevant recommendations and decisions of the American Food and Medicine Association, the World Health Organisation, and the International Food Agency. The Seminar recommends that institutions be established to protect and educate the consumer in Muslim countries. Cloning With the grace and blessings of God, the 9th Fiqh-Medical Seminar was successfully convened at Casablanca, Morocco, during 8–11 Safar 1418, corresponding...
2 Corinthians Reference library
Margaret MacDonald and Margaret MacDonald
The Oxford Bible Commentary
...hypothesis. For an alternative reconstruction based upon the five-(or six- )letter hypothesis see Betz 1992 : 1149–52. ) 2. When Paul wrote 1 Corinthians, he responded to problems involving community division and behaviour, problems he felt were incompatible with membership in Christ's body. By the time of the composition of 2 Corinthians (or various letter fragments), community problems extended to include the nature of the apostle's relationship with the Corinthians. Indeed, some wonder whether the harsh, critical—even sardonic—tone of 1 Corinthians may...
Political Theory of Islam Reference library
Mawdūdī Abū-L-‘Alā’
Islam in Transition: Muslim Perspectives (2 ed.)
...to effect such legislation or change in Divine laws is unanimous; 1 and 3. An Islamic state must, in all respects, be founded upon the law laid down by God through His Prophet. The government which runs such a state will be entitled to obedience in its capacity as a political agency set up to enforce the laws of God and only in so far as it acts in that capacity. If it disregards the law revealed by God, its commands will not be binding on the believers. The Islamic State: its Nature and Characteristics The preceding discussion makes it quite clear that Islam...
Law Reference library
An Oxford Companion to the Romantic Age
...turn against the bloody and saturnalian rituals of Tyburn executions and the archaic process of Westminster Hall. Both criminal law and civil procedure were the subject of prolonged parliamentary scrutiny. Rather than continuing to rely on the common law courts as devolved agencies of propaganda, deterrence, and administration, and tolerating the development of new law by their judges, early-nineteenth-century ministers found themselves more frequently resorting to law as an instrument of central government. This took the form of parliamentary legislation...
Ruth Reference library
Grace I. Emmerson and Grace I. Emmerson
The Oxford Bible Commentary
...( Campbell 1975 ), and twice significant events are attributed to chance ( 2:3; 3:18 ). Throughout it is a story of faithfulness ( ḥesed ) human and divine. Each of the blessings invoked is fulfilled ultimately through human agency. 2. The questions of date and purpose are interrelated. Uncertainty as to the one compounds the problems concerning the other. Arguments can be adduced for both a pre-exilic and a post-exilic date. In neither case are they conclusive and the matter remains unresolved. From a general consensus on linguistic grounds that it belongs...
Visions of Kingdoms: From Pompey to the First Jewish Revolt Reference library
Amy-Jill Levine
Oxford History of the Biblical World
...flourished: for some Jews, the savior would be a human warrior; for others, an angel; for others, the age to come would be inaugurated not by a savior figure but directly by divine command. Apparently, many Jews did not expect a messiah at all. Still others may have seen divine agency manifested by charismatic prophets, reformers, and teachers. One such figure was John the Baptist. A popular figure in the early part of the first century ce , John the Baptist was one of a number of Jewish reformers who attracted disciples and crowds, and consequently...
Isaiah Reference library
R. Coggins and R. Coggins
The Oxford Bible Commentary
...he was an unwitting instrument of the divine purpose, which, in a way left unspecified, would be recognized in Cyrus's achievements. The poem ends with a strong assertion of YHWH's uniqueness as creator. The poet evidently saw no problem in describing YHWH as the creator of woe; indeed it is implicit in the way that divine agency has been put forward as the reason for the people's misfortunes. ( 45:8 ) Christian liturgical use of this verse, especially in the season of Advent, has given it an eschatological dimension. In its Isaianic context, however, it is a...
Joshua Reference library
Gordon McConville and Gordon McConville
The Oxford Bible Commentary
...commanded by YHWH, presents the greatest moral difficulty in the book for modern readers. 3. In its own context, the ḥērem has an intelligible theology, involving YHWH's sovereignty over all nations, his ownership of the land, his right to grant it to whomever he wishes, his agency in the military victory, his judgement on the sin of the victims, and the need to remove from Israel any risk of religious contamination. (There is further comment along these lines in josh 5:13–6:27 ). This theology is idealized in our accounts, however. The actual Israelite...
The Twentieth Century Quick reference
Brian M. Short
The Oxford Companion to Local and Family History (2 ed.)
...Through the National Digital Archive of Datasets at The National Archives, from 2003 it became possible to access a great deal of potentially useful information for the local and family historian. The UK Data Archive at Essex University also takes in the records of government agencies and is an extremely useful site. The themes of the local and family historian working on the 20th century are innumerable. Urban and suburban growth and change can be plotted and analysed with materials unique to the 20th century. Work on rural land use, landownership, and...
Mark Reference library
C. M. Tuckett and C. M. Tuckett
The Oxford Bible Commentary
...of the three synoptic gospels to be written. Although it is disputed by some, the most widely held solution today to the Synoptic Problem, the problem of the relationship between the three synoptic gospels, is that Mark's gospel was written first and was then used as a source by Matthew and Luke. That theory will not be discussed in detail here but will be assumed in what follows. (On this, see discussions on the Synoptic Problem in ch. 61 , below and e.g. Tuckett 1992 .) B. Author. 1. About the author of the gospel we probably know very little. Ancient...
Numbers Reference library
Terence E. Fretheim and Terence E. Fretheim
The Oxford Bible Commentary
...of case for which this ordeal would be applied. The husband is freed from any responsibility for a false accusation (the need to express this is striking, and it opens the way to frivolous expressions of jealousy). If the woman is guilty, she bears the consequences (by divine agency). One might claim that the ritual could not accurately determine the truth; but, as in the sacrificial system, it is God, before whom the woman is brought, who knows the truth of the situation and is believed to act in the ritual and to effect the proper result. Yet, one wonders...
