Asymmetry of information as a source of dysfunctional formal institutions
Abstract
Institutions, that following own functionality contribute to the efficient market operation, or when dysfunctional limit market forces, play an important role in the economic process. Since there is no universal and proved method of establishing high-quality formal institutions, each country should control the influence of institutions on business units operating on the market, on current basis. The purpose of this study is identification of origins for dysfunctionality (with means of tools offered by new institutional economy) in formal institutions, that are implemented into the Polish legal system under the Act on supporting new investments. The research concept was carried out on the basis of literature research method, as well as theoretical and legal method.
Keywords:
agency theory, anti-abusive clause, asymmetry of information, , dysfunctional institutions, dysfunctional institutions, transactional cost theoryDetails
- Issue
- Vol. 1 No. 28 (2019)
- Section
- Research article
- Published
- 2019-06-30
- DOI:
- https://doi.org/10.19253/reme.2019.01.004
- Licencja:
-
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