STAKEHOLDER‐AGENCY THEORY

1 March 1992

journal article
research article
Published by Wiley in Journal of Management Studies

Vol. 29 (2) , 131-154
https://doi.org/10.1111/j.1467-6486.1992.tb00657.x

Abstract

Taking agency theory and stakeholder theory as points of departure, this article proposes a paradigm that helps explain the following: (1) certain aspects of a firm's strategic behaviour; (2) the structure of management‐stakeholder contracts; (3) the form taken by the institutional structures that monitor and enforce contracts between managers and other stakeholders; and (4) the evolutionary process that shapes both management‐stakeholder contracts and the institutional structures that police those contracts.

Keywords

AGENCY THEORY

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