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Günümüz Vekalet Savaşlarının Vekalet Kuramı Çerçevesinde İncelenmesi

Year 2023, Issue: 78, 173 - 187, 25.10.2023
https://doi.org/10.51290/dpusbe.1314891

Abstract

Bir tarafın kendi amaçlarına ulaşmak için üçüncü bir tarafı kullandığı vekalet yüzyıllardır bilinmektedir, ancak vekalet savaşının kavramsallaştırma çalışmaları nispeten yenidir. Bu nedenle, bu çalışmada vekalet savaşı vekâlet teorisi açısından incelenerek değerlendirilmektedir. Vekalet teorisine göre, şirket sahibi, yetkisini başka bir kişiye (temsilciye) kendi adına karar vermesi için devreder. Taraflar arasında bilgi asimetrisi veya temsil edilen ile vekilin hedeflerinde farklılaşma varsa veya farklı risk paylaşım algıları varsa vekalet sorunu ortaya çıkar. Bu çalışmada, vekalet savaşında da benzer sorunların yaygın olduğunu ortaya konmaktadır. Yani, vekil ile vekili kullanan unsurun uyuşmayan amaçları/istekleri ve ilave olarak iki taraf arasında bilgi asimetrisi ve farklı risk algısı varsa, vekili kullanan unsur, vekil üzerindeki kontrolünü kaybedebilir veya vekili kullanan unsur, vekil ile olan ilişkisini kendi yararına kullanabilir, aynı şekilde vekil, vekili kullanan unsurdan farklı bir hareket tarzını tercih edebilir. Ayrıca vekâlet teorisinde ortaya konan ahlaki tehlike ve ters seçim problemlerine yönelik çözüm önerilerinin, vekâlet savaşı problemlerin çözümünde de kullanılabileceği ortaya konmaktadır. Söz konusu iki sorunu engellemek veya çözmek için vekalet savaşının tarafları arasında sonuç odaklı sözleşmeler üzerinde durulması ve güçlü bir bilgi altyapısının tesis edilmesi faydalı olacaktır.

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Thanks

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References

  • Adams, J. (1996). Principals and agents, colonialists and company men: The decay of colonial control in the Dutch East Indies. American Sociological Review, 61(1), 12-28.
  • Alca, D. (2020). Kim: Yeni savaşlarda asıl vekil sorunu. Savunma Bilimleri Dergisi/The Journal of Defense Sciences, 19/(1/37), 25-48.
  • Bergen, M., Dutta, S. & Walker, O.C.Jr. (1992). Agency relationships in marketing: A review of the implications and applications of agency and related theories. Journal of Marketing, 56(3), 1-24.
  • Berle, A. & Means, G. (1932). The modern corporation and private property. New York: Macmillan.
  • Brown, S. (2016). Purposes and pitfalls of war by proxy: A systemic analysis. Small Wars and Insurgencies, 27(2), 243-257.
  • Burkart, M., Gromb, D., & Panunzi, F. (1997). Large shareholders, monitoring, and the value of the firm. Quarterly Journal of Economics, 112(3), 693-728.
  • Clausewitz, Carl von, (1989). On War. M. Howard & P. Paret (Ed.) Princeton: Princeton University Press.
  • Core, E., Holthausen, R. & Larcker, D. (1999). Corporate governance, chief executive compensation, and firm performance. Journal of Financial Economics, 51(3), 371-406.
  • Dees, J.G. (1992). Principals, agents and ethics. N.E. Bowie & R.E. Freeman (Ed.), Ethics and agency theory. Oxford University Press.
  • Deutsch, K. W. (1964). External involvement in internal war. In H. Eckstein (Ed.), Internal war, problems and approaches (pp.100-110). New York: Free Press of Glencoe.
  • Eisenhardt, K.M., (1989). Agency Theory: An Assessment and Review. The Academy of Management Review 14/1.
  • Erbay, N.Ö. (2022). Özel askeri şirketlerin doğuşu, gelişimi ve etkileri. N.Ö. Erbay (Ed.). Özel askeri şirketler savaş müteahhitliği ve uluslararası güvenlik içinde (ss. 22-42). İstanbul: Seta Kitapları.
  • Fama, E. (1980). Agency problems and the theory of the firm. Journal of Political Economy, 88(2), 288-307.
  • Fama, E. & Jensen, M. (1983). Separation of ownership and control. Journal of Law and Economics, 26(2), 301-325.
  • Fox, A.C. (2019). In pursuit of a general theory of proxy warfare. (Land Warfare Paper 123). Retrieved from The Institute of Land Warfare website: https://www.ausa.org/sites/default/files/publications/LWP-123-In-Pursuit-of-a-General-Theory-of-Proxy-Warfare.pdf, Accessed on 02 January 2023.
  • Frierman, M. & Viswanath, P. (1994). Agency problems of debt, convertible securities, and deviations from absolute priority in bankruptcy. Journal of Law and Economics, 37(2), 455-476.
  • Hammond, T. & Knott, J. (1996). Who controls the bureaucracy? Presidential power, congressional dominance, legal constraints, and bureaucratic autonomy in a model of multi-institutional policy-making. Journal of Law, Economics, and Organization, 12(1), 119-166.
  • Harris, M. & Raviv, A. (1978). Some results on incentive contracts with application to education and employment, health insurance, and law enforcement. American Economic Review, 68, 20-30.
  • Heath, J. (2009). The uses and abuses of agency theory. Business Ethics Quarterly, 19 (4), 497-528.
  • Gök, A. (2021). Suriye ve Libya’da meydana gelen çatışmaların vekâlet savaşı teorisi kapsamında karşılaştırılması. Güvenlik Bilimleri Dergisi, 10(1), 121-150. doi: 10.28956/gbd.941793.
  • Jensen M. & Meckling W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305-360.
  • Jensen, M. (1983). Organization theory and methodology. Accounting Review, 58, 319-339.
  • Jensen, M. (1986). Agency cost of free cash flow, corporate finance, and takeovers. American Economic Review, 76(2), 323-329.
  • Jensen, M. & Roeback, R. (1983). The market for corporate control: Empirical evidence. Journal of Financial Economics, 11, 5-50.
  • Karasoy, H.A. (2022). Hibrit, asimetrik ve vekalet savaşları: 2022 Rusya Ukrayna savaşını üçlü sacayağı üzerinden inceleme. Medeniyet Araştırmaları Dergisi, 7(2), 44-56. doi: 10.52539/mad.1119229.
  • Kini, O., Kracaw, W. & Mian, S. (2004). The nature of discipline by corporate takeovers. Journal of Finance, 59(4), 1511-1552.
  • Kosnik, R. & Bittenhausen, K. (1992). Agency theory and motivational effect of management compensation. Group and Organization Management, 17(3), 309-330.
  • Mumford, A. (2013). Proxy warfare and the future of conflict, The RUSI Journal, 158(2), 40-46. doi: 10.1080/03071847.2013.787733.
  • Noreen, E. (1988). The economics of ethics: A new perspective on agency theory. Accounting, Organizations and Society, 13, 359-369.
  • Oğuz, Ş. & Çelik, K. E. (2018). Conflict in Syria: Is it a proxy warfare? Uluslararası Kriz ve Siyaset Araştırmaları Dergisi, 2(2), 44-69.
  • Panda, B. & Leepsa, N. M. (2017). Agency theory: Review of theory and evidence on problems and perspectives. Indian Journal of Corporate Governance, 10(1) 74-95.
  • Park, J. J. (2009). Shareholder compensation as dividend. Michigan Law Review, 108(3), 323-371.
  • Rauta, V. (2020). Towards a typology of non-state actors in ‘hybrid warfare’: proxy, auxiliary, surrogate and affiliated forces. Cambridge Review of International Affairs, 33 (6), 868-887. doi: 10.1080/09557571.2019.1656600.
  • Rondeau, C.& Sterman, D. (2019). Twenty-first century proxy warfare: confronting strategic innovation in a multipolar world since the 2011 NATO Intervention. Retrieved from www.newamerica.org/internationalsecurity.
  • Ronen, J. & Balchadran, K. (1995). Agency theory: An approach to incentive problems in management accounting. Asian Review of Accounting, 3(1), 127-151.
  • Ross, S. (1973). The economic theory of agency: The principal’s problem. American Economic Review, 63(2), 134-139.
  • Rosenstein, S. & Wyatt, J. G. (1990). Outside directors, board independence and shareholder wealth. Journal of Financial Economics, 26(2), 175-191.
  • Singer, P.W. (2002), Corporate warriors: The rise of the privatized military industry and its ramifications for international security. International Security, 26(3), 186-220. Retrieved from http://www.jstor.org/stable/3092094.
  • Ünalmış, A.N. & Oğuz, Ş. (2019). 2008 Rusya-Gürcistan savaşının vekalet savaşı teorisi açısından incelenmesi. Karadeniz Araştırmaları, XVI(61), 31-41.
  • Weidenbaum, M. & Jensen, M. (2010). Introduction to the transaction edition, pp. ix-xviii. In A.A. Berle, & G.C. Means (Ed.). The Modern Corporation & Private Property (11th Edition). New Brunswick: Transaction Publishers.
  • Wilson, R. (1968). On the theory of syndicates. Econometrica, 36(1), 119–132
  • Yeisley, M.O. (2022). Bipolarity, proxy wars, and the rise of China. Strategic Studies Quarterly, 5(4). 75-91.

Modern-Day Proxy Warfare: From Agency Theory Perspective

Year 2023, Issue: 78, 173 - 187, 25.10.2023
https://doi.org/10.51290/dpusbe.1314891

Abstract

Proxy warfare, in which one party uses a third party to achieve its own goals, are known for centuries, however, the conceptualization studies of proxy warfare are relatively new. Thereby, in this paper, we assess proxy warfare in terms of agency theory. According to agency theory, the owner of the company delegates their authority to another person (agent) to make decisions on their behalf. If there is information asymmetry between the parties or differentiation in the goals of the principal and the agent or they have different risk-sharing perceptions, agency problem exists. This study discloses that identical problems are common in proxy warfare. That is, if the principal and proxy have unmatching goals or desires accompanying information asymmetry and different risk perceptions, the principal may lose control of the proxy or the principal may exploit the proxy, likewise, the proxy may prefer a different way of action which is not compatible with the goals of the principal. However, this study shows that the remedies for agency theory’s “moral hazard” and “adverse selection” problems might be used in proxy warfare problems by establishing outcome-based contracts and a strong knowledge structure between the parties of proxy warfare.

Project Number

Yoktur

References

  • Adams, J. (1996). Principals and agents, colonialists and company men: The decay of colonial control in the Dutch East Indies. American Sociological Review, 61(1), 12-28.
  • Alca, D. (2020). Kim: Yeni savaşlarda asıl vekil sorunu. Savunma Bilimleri Dergisi/The Journal of Defense Sciences, 19/(1/37), 25-48.
  • Bergen, M., Dutta, S. & Walker, O.C.Jr. (1992). Agency relationships in marketing: A review of the implications and applications of agency and related theories. Journal of Marketing, 56(3), 1-24.
  • Berle, A. & Means, G. (1932). The modern corporation and private property. New York: Macmillan.
  • Brown, S. (2016). Purposes and pitfalls of war by proxy: A systemic analysis. Small Wars and Insurgencies, 27(2), 243-257.
  • Burkart, M., Gromb, D., & Panunzi, F. (1997). Large shareholders, monitoring, and the value of the firm. Quarterly Journal of Economics, 112(3), 693-728.
  • Clausewitz, Carl von, (1989). On War. M. Howard & P. Paret (Ed.) Princeton: Princeton University Press.
  • Core, E., Holthausen, R. & Larcker, D. (1999). Corporate governance, chief executive compensation, and firm performance. Journal of Financial Economics, 51(3), 371-406.
  • Dees, J.G. (1992). Principals, agents and ethics. N.E. Bowie & R.E. Freeman (Ed.), Ethics and agency theory. Oxford University Press.
  • Deutsch, K. W. (1964). External involvement in internal war. In H. Eckstein (Ed.), Internal war, problems and approaches (pp.100-110). New York: Free Press of Glencoe.
  • Eisenhardt, K.M., (1989). Agency Theory: An Assessment and Review. The Academy of Management Review 14/1.
  • Erbay, N.Ö. (2022). Özel askeri şirketlerin doğuşu, gelişimi ve etkileri. N.Ö. Erbay (Ed.). Özel askeri şirketler savaş müteahhitliği ve uluslararası güvenlik içinde (ss. 22-42). İstanbul: Seta Kitapları.
  • Fama, E. (1980). Agency problems and the theory of the firm. Journal of Political Economy, 88(2), 288-307.
  • Fama, E. & Jensen, M. (1983). Separation of ownership and control. Journal of Law and Economics, 26(2), 301-325.
  • Fox, A.C. (2019). In pursuit of a general theory of proxy warfare. (Land Warfare Paper 123). Retrieved from The Institute of Land Warfare website: https://www.ausa.org/sites/default/files/publications/LWP-123-In-Pursuit-of-a-General-Theory-of-Proxy-Warfare.pdf, Accessed on 02 January 2023.
  • Frierman, M. & Viswanath, P. (1994). Agency problems of debt, convertible securities, and deviations from absolute priority in bankruptcy. Journal of Law and Economics, 37(2), 455-476.
  • Hammond, T. & Knott, J. (1996). Who controls the bureaucracy? Presidential power, congressional dominance, legal constraints, and bureaucratic autonomy in a model of multi-institutional policy-making. Journal of Law, Economics, and Organization, 12(1), 119-166.
  • Harris, M. & Raviv, A. (1978). Some results on incentive contracts with application to education and employment, health insurance, and law enforcement. American Economic Review, 68, 20-30.
  • Heath, J. (2009). The uses and abuses of agency theory. Business Ethics Quarterly, 19 (4), 497-528.
  • Gök, A. (2021). Suriye ve Libya’da meydana gelen çatışmaların vekâlet savaşı teorisi kapsamında karşılaştırılması. Güvenlik Bilimleri Dergisi, 10(1), 121-150. doi: 10.28956/gbd.941793.
  • Jensen M. & Meckling W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305-360.
  • Jensen, M. (1983). Organization theory and methodology. Accounting Review, 58, 319-339.
  • Jensen, M. (1986). Agency cost of free cash flow, corporate finance, and takeovers. American Economic Review, 76(2), 323-329.
  • Jensen, M. & Roeback, R. (1983). The market for corporate control: Empirical evidence. Journal of Financial Economics, 11, 5-50.
  • Karasoy, H.A. (2022). Hibrit, asimetrik ve vekalet savaşları: 2022 Rusya Ukrayna savaşını üçlü sacayağı üzerinden inceleme. Medeniyet Araştırmaları Dergisi, 7(2), 44-56. doi: 10.52539/mad.1119229.
  • Kini, O., Kracaw, W. & Mian, S. (2004). The nature of discipline by corporate takeovers. Journal of Finance, 59(4), 1511-1552.
  • Kosnik, R. & Bittenhausen, K. (1992). Agency theory and motivational effect of management compensation. Group and Organization Management, 17(3), 309-330.
  • Mumford, A. (2013). Proxy warfare and the future of conflict, The RUSI Journal, 158(2), 40-46. doi: 10.1080/03071847.2013.787733.
  • Noreen, E. (1988). The economics of ethics: A new perspective on agency theory. Accounting, Organizations and Society, 13, 359-369.
  • Oğuz, Ş. & Çelik, K. E. (2018). Conflict in Syria: Is it a proxy warfare? Uluslararası Kriz ve Siyaset Araştırmaları Dergisi, 2(2), 44-69.
  • Panda, B. & Leepsa, N. M. (2017). Agency theory: Review of theory and evidence on problems and perspectives. Indian Journal of Corporate Governance, 10(1) 74-95.
  • Park, J. J. (2009). Shareholder compensation as dividend. Michigan Law Review, 108(3), 323-371.
  • Rauta, V. (2020). Towards a typology of non-state actors in ‘hybrid warfare’: proxy, auxiliary, surrogate and affiliated forces. Cambridge Review of International Affairs, 33 (6), 868-887. doi: 10.1080/09557571.2019.1656600.
  • Rondeau, C.& Sterman, D. (2019). Twenty-first century proxy warfare: confronting strategic innovation in a multipolar world since the 2011 NATO Intervention. Retrieved from www.newamerica.org/internationalsecurity.
  • Ronen, J. & Balchadran, K. (1995). Agency theory: An approach to incentive problems in management accounting. Asian Review of Accounting, 3(1), 127-151.
  • Ross, S. (1973). The economic theory of agency: The principal’s problem. American Economic Review, 63(2), 134-139.
  • Rosenstein, S. & Wyatt, J. G. (1990). Outside directors, board independence and shareholder wealth. Journal of Financial Economics, 26(2), 175-191.
  • Singer, P.W. (2002), Corporate warriors: The rise of the privatized military industry and its ramifications for international security. International Security, 26(3), 186-220. Retrieved from http://www.jstor.org/stable/3092094.
  • Ünalmış, A.N. & Oğuz, Ş. (2019). 2008 Rusya-Gürcistan savaşının vekalet savaşı teorisi açısından incelenmesi. Karadeniz Araştırmaları, XVI(61), 31-41.
  • Weidenbaum, M. & Jensen, M. (2010). Introduction to the transaction edition, pp. ix-xviii. In A.A. Berle, & G.C. Means (Ed.). The Modern Corporation & Private Property (11th Edition). New Brunswick: Transaction Publishers.
  • Wilson, R. (1968). On the theory of syndicates. Econometrica, 36(1), 119–132
  • Yeisley, M.O. (2022). Bipolarity, proxy wars, and the rise of China. Strategic Studies Quarterly, 5(4). 75-91.
There are 42 citations in total.

Details

Primary Language English
Subjects Behavioural Finance, Finance, Organisation and Management Theory
Journal Section RESEARCH ARTICLES
Authors

Levent Özdemir 0000-0003-4578-9247

Çağdaş Akif Kahraman 0000-0002-2991-0548

Project Number Yoktur
Publication Date October 25, 2023
Published in Issue Year 2023 Issue: 78

Cite

APA Özdemir, L., & Kahraman, Ç. A. (2023). Modern-Day Proxy Warfare: From Agency Theory Perspective. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi(78), 173-187. https://doi.org/10.51290/dpusbe.1314891
AMA Özdemir L, Kahraman ÇA. Modern-Day Proxy Warfare: From Agency Theory Perspective. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. October 2023;(78):173-187. doi:10.51290/dpusbe.1314891
Chicago Özdemir, Levent, and Çağdaş Akif Kahraman. “Modern-Day Proxy Warfare: From Agency Theory Perspective”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, no. 78 (October 2023): 173-87. https://doi.org/10.51290/dpusbe.1314891.
EndNote Özdemir L, Kahraman ÇA (October 1, 2023) Modern-Day Proxy Warfare: From Agency Theory Perspective. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi 78 173–187.
IEEE L. Özdemir and Ç. A. Kahraman, “Modern-Day Proxy Warfare: From Agency Theory Perspective”, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, no. 78, pp. 173–187, October 2023, doi: 10.51290/dpusbe.1314891.
ISNAD Özdemir, Levent - Kahraman, Çağdaş Akif. “Modern-Day Proxy Warfare: From Agency Theory Perspective”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi 78 (October 2023), 173-187. https://doi.org/10.51290/dpusbe.1314891.
JAMA Özdemir L, Kahraman ÇA. Modern-Day Proxy Warfare: From Agency Theory Perspective. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. 2023;:173–187.
MLA Özdemir, Levent and Çağdaş Akif Kahraman. “Modern-Day Proxy Warfare: From Agency Theory Perspective”. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, no. 78, 2023, pp. 173-87, doi:10.51290/dpusbe.1314891.
Vancouver Özdemir L, Kahraman ÇA. Modern-Day Proxy Warfare: From Agency Theory Perspective. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi. 2023(78):173-87.

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