principal to principal transaction
2.An agent may not act in an agency transaction for a party whose interests are adverse to those of his principal.
3.The third party has a reasonable time in which to decide whether he will hold the principal or the agent responsible in the transaction.
4.The paper is based on the theories and methods relative to organizational transformation, transaction cost and principal agent. And the paper studies fully, systematically and deeply the implemental methods and policies of business reengineering according to the streamline of business culture rebuilding, organization reconstructing, process reengineering, resource conformity and management integration.
5.In reviewing the theoretical development of related literatures, our emphases are on the reasons why the same theoretical framework, be it called the transaction cost economics, principal-agent theory, or NIE (Neo-institutional Economics), is used to arrive at divergent perspectives on the political control of regulatory agency, which as a result underlines the difficulties inherent in understanding the nature of political governance.
