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Rethinking agency theory: the view from law
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Lan, Luh Luh and Heracleous, Loizos Th. (2010) Rethinking agency theory: the view from law. Academy of Management Review, Vol.35 (No.2). pp. 294-314. doi:10.5465/AMR.2010.48463335
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Official URL: http://dx.doi.org/10.5465/AMR.2010.48463335
Abstract
We draw from legal theory to offer a fundamental rethinking of agency theory along three key dimensions: redefining the principal from shareholders to the corporation, redefining the status of the board from shareholders' agents to autonomous fiduciaries, and redefining the role of the board from monitors to mediating hierarchs. These dimensions contrast with classic agency theory, offering novel conceptions that can inform further theorization and empirical research in corporate governance.
| Item Type: | Journal Article | ||||
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| Subjects: | H Social Sciences > HF Commerce H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
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| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
| Journal or Publication Title: | Academy of Management Review | ||||
| Publisher: | Academy of Management | ||||
| ISSN: | 0363-7425 | ||||
| Official Date: | April 2010 | ||||
| Dates: |
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| Volume: | Vol.35 | ||||
| Number: | No.2 | ||||
| Number of Pages: | 21 | ||||
| Page Range: | pp. 294-314 | ||||
| DOI: | 10.5465/AMR.2010.48463335 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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