# kaal:claim:3373393-016

**Claim.** Existing governance mechanisms work well in some firms but are ineffective in others, because agency conflicts and their specific scope differ from firm to firm.

**Type.** failure  **Support.** argued

**Holds when.**

- across a heterogeneous population of firms

**Source quote.**

> However, existing governance mechanisms work well in some firms but are ineffective in others.

**From.** Wulf A. Kaal, *Blockchain Solutions for Agency Problems in Corporate Governance* (2019), II.2 Path Dependencies, page 13

**Cite as.** Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393

**Verify.** sha256 of source PDF `4d1424b9ba9aff8a61bc7a0dddd02cded93785e5843685dde76c07dcdb23961e` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Blockchain%20Solutions%20for%20Agency%20Problems%20in%20Corporate%20Governance.pdf

**Failure mode.** universal-solution-mismatch  (family: agency-cost-and-managerial-opportunism)

**Topics.** governance-design

**Keywords.** governance-mechanisms, firm-heterogeneity, agency-conflicts, effectiveness

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