Contract Enforcement in the English East India Company
研究了英国东印度公司如何通过允许私人贸易和开除员工来执行远距离合同，而非依赖工资或保证金，对理解早期跨国公司的治理机制有参考价值。
Long-distance trade depends crucially on the enforcement of long-distance contracts, those in which principals are significantly removed from agents. The problem of contract enforcement in the English East India Company reflected a multi-task principal-agent problem in which servants traded publicly for the company and at the same time conducted their own private trade. Private trade, sustained by the private use of company resources, and dismissals were the mechanisms that made East India contracts work. Mechanisms that served little purpose were salaries and pre-employment bonds.