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STAKEHOLDER‐AGENCY THEORY
Author(s) -
Hill Charles W. L.,
Jones Thomas M.
Publication year - 1992
Publication title -
journal of management studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.398
H-Index - 184
eISSN - 1467-6486
pISSN - 0022-2380
DOI - 10.1111/j.1467-6486.1992.tb00657.x
Subject(s) - stakeholder , stakeholder theory , agency (philosophy) , business , process (computing) , principal–agent problem , stakeholder analysis , structure and agency , institutional theory , stakeholder management , process management , industrial organization , public relations , management , economics , corporate governance , sociology , political science , finance , computer science , social science , anthropology , operating system
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.