NDLI: Principal-Agency Theory in Illegal Markets: Cooperation and Conflict Among Chinese Loansharks

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Principal-Agency Theory in Illegal Markets: Cooperation and Conflict Among Chinese Loansharks

Content Provider	Springer Nature Link
Author	Soudijn, Melvin R. J. Zhang, Sheldon X.
Copyright Year	2015
Abstract	There are management and organizational problems common to both legal and illegal businesses, such as moving one party to act in the interest of another rather than his own. In principal-agency theory, the party that wants someone else to do a job on his behalf is called the “principal” and the other party is called the “agent”. Principal-agency theory tries to find solutions to real and potential conflicts that arise from such transactional arrangements. We believe principal-agency theory has great potentials for understanding the operation and interpersonal relationships of criminal enterprises, in addition to the structural arrangements (e.g., a disorganized crime market) and the social network perspectives. Using a case study of Chinese loan sharking and cannabis cultivation in the Netherlands, we seek to make a theoretical contribution to existing literature on organized crime by focusing on how different individuals within a criminal enterprise negotiate the most efficient transactional arrangement in a principal-agent relationship amidst the uncertainties of an illicit market environment. We specifically look at four phases of the criminal enterprise studied: the selection of agents by the principal, attempts to bind these agents to the principal, potential conflicts and finally the solution of any problems. Incidentally, our study also gives insight in the less well-researched topic of loansharking.
Starting Page	231
Ending Page	247
Page Count	17
File Format	PDF
ISSN	18710131
Journal	Asian Journal of Criminology
Volume Number	11
Issue Number	3
e-ISSN	1871014X
Language	English
Publisher	Springer Netherlands
Publisher Date	2015-12-23
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Loansharking Principal-agency theory Chinese organized crime Criminology & Criminal Justice Social Sciences Political Science Law
Content Type	Text
Resource Type	Article
Subject	Law

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