Agency: Difference between revisions
imported>Doug Williamson (Expand. Source: HSBC AR 2015.) |
imported>Doug Williamson (Standardise page layout & link with Agent based modelling page.) |
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''Law'' | ''Law'' | ||
A formal legal relationship between at least two parties in which one, the principal, authorises the other, the agent, to represent the principal's legal interests and to perform legal acts that bind the principal. | A formal legal relationship between at least two parties in which one, the principal, authorises the other, the agent, to represent the principal's legal interests and to perform legal acts that bind the principal. | ||
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5. | 5. | ||
''Behavioural economics'' | ''Behavioural economics'' | ||
The ability of individuals to exercise a significant degree of personal control over their own economic and other circumstances, or the psychological belief of an individual that they have such abilities. | The ability of individuals to exercise a significant degree of personal control over their own economic and other circumstances, or the psychological belief of an individual that they have such abilities. | ||
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6. | 6. | ||
''Corporate treasury'' | ''Corporate treasury'' | ||
Agency is a structural corporate treasury role where the day-to-day treasury decisions are made at local level by operational management, but the execution is centralised to obtain efficiencies and economies of scale. | Agency is a structural corporate treasury role where the day-to-day treasury decisions are made at local level by operational management, but the execution is centralised to obtain efficiencies and economies of scale. | ||
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* [[Agency theory]] | * [[Agency theory]] | ||
* [[Agent]] | * [[Agent]] | ||
* [[Agent based modelling]] | |||
* [[Behavioural economics]] | * [[Behavioural economics]] | ||
* [[Correspondent banking]] | * [[Correspondent banking]] | ||
Revision as of 09:19, 11 February 2017
1.
Law
A formal legal relationship between at least two parties in which one, the principal, authorises the other, the agent, to represent the principal's legal interests and to perform legal acts that bind the principal.
2.
A similar less formal relationship which may be legally binding, but which may not, depending on the words and actions of the related parties.
3.
A business or other organisation which facilitates business or other introductions.
For example an employment agency or an estate agency.
4.
A governmental or quasi-governmental agency is an entity owned or sponsored by a government.
5.
Behavioural economics
The ability of individuals to exercise a significant degree of personal control over their own economic and other circumstances, or the psychological belief of an individual that they have such abilities.
6.
Corporate treasury
Agency is a structural corporate treasury role where the day-to-day treasury decisions are made at local level by operational management, but the execution is centralised to obtain efficiencies and economies of scale.
An agency treasury structure is associated with a relatively high degree of centralisation.
(Contrasted with an advisory treasury which is relatively decentralised).
