# Monitoring costs

`kaal:entity:monitoring-costs`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `monitoring-costs`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 2 works, 2019 to 2021.

**2019**

- [3373393-003](https://wulfkaal.github.io/claims/3373393-003) [failure/argued] *(failure mode)* -- The core agency conflicts that emanate from the separation of ownership by shareholder principals and control by manager agents cannot be fully addressed by the existing theoretical and legal framework, because monitoring agents is inevitably costly and transaction costs abound.
  > However, the core agency conflicts emanating from the separation of ownership (shareholder principal) and control (manager agent) cannot be fully addressed by the existing theoretical and legal framework.
  Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393
- [3373393-011](https://wulfkaal.github.io/claims/3373393-011) [definitional/asserted] -- Agency costs are the sum of monitoring costs, bonding costs, and residual loss, and in the corporate context they can be seen as the lost share value resulting from diverging interests between shareholders and corporate managers.
  > As such, agency costs are the sum of monitoring costs, bonding costs, and residual loss.
  Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393

**2021**

- [3949098-018](https://wulfkaal.github.io/claims/3949098-018) [mechanism/asserted] -- Meaningful reputation in a business network removes the need for monitoring cost and lowers transaction costs by orders of magnitude.
  > Reputation removes the need for monitoring cost. It lowers transaction costs in orders of magnitude.
  Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/monitoring-costs.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.