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- W2482979030 abstract "Abstract This chapter looks at the diversity of both the industry and its clients and the resulting variety of potential costs in the case of misconduct. Drawing on insights from principal-agent theory in economics and political science, it examines the relations between PMCs and their clients and regulators, arguing that states use a variety of methods to try to make PMCs their ‘agents’, including employment, national regulation, and the promotion of soft norms. It suggests PMCs in turn respond by trying to maximize their own power through a variety of strategies, including playing off different principals against each other — for example by encouraging national executives to use PMCs to escape parliamentary, judicial, and electoral accountability — and in extreme cases asserting their own principality. These contending strategies intersect with industry consolidation, market incentives, and the shadow of litigation to produce a transnational hybrid state-market regulatory model, raising difficult questions about private regulatory power and its role in determining and providing public goods." @default.
- W2482979030 created "2016-08-23" @default.
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- W2482979030 date "2007-07-12" @default.
- W2482979030 modified "2023-09-23" @default.
- W2482979030 title "Make or buy? Principal-agent theory and the regulation of private military companies" @default.
- W2482979030 doi "https://doi.org/10.1093/acprof:oso/9780199228485.003.0012" @default.
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