The present work establishes the main structural characteristics of Cooperatives first grade under the postulates of The Agency Theory. Based in our analysis we conclude a series of structural shortcomings related with agency problems. Moreover, possible solutions to these are proposed.

Illegal armed agents try to replace the state both in the monopoly of violence and in the protection of civilian population. We pretend to show that this objective is achieved if armed agents build alliances with groups from the civilian population. How to build this type of alliances? We...

A partir de las teorías del neoinstitucionalismo y de la regulación y usando los modelos de agencia, de incentivos y de contratos, este artículo analiza los problemas de la institucionalidad actual de la industria eléctica colombiana. Se concibe la regulación como un juego de grupos de...

In this paper we study the hypothesis of “divergent expectations” with a signaling game. Such hypothesis points out that, in emerging economies, local investors tend to be front-runners in a currency crisis. Our analysis shows that changes in the informational structure available to the...