Lan, Luh Luh and Heracleous, Loizos. (2010) Rethinking agency theory: the view from law. Academy of Management Review, Vol.35 (No.2). pp. 294-314. ISSN 0363-7425

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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
Subjects:	H Social Sciences > HF Commerce H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions:	Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Academy of Management Review
Publisher:	Academy of Management
ISSN:	0363-7425
Date:	April 2010
Volume:	Vol.35
Number:	No.2
Number of Pages:	21
Page Range:	pp. 294-314
Identification Number:	10.5465/AMR.2010.48463335
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/6092

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