24. Loyalty, Agency Conflicts, and Corporate Governance

  1. H. Kent Baker and
  2. John R. Nofsinger
  1. Randall Morck

Published Online: 29 NOV 2011

DOI: 10.1002/9781118258415.ch24

Behavioral Finance: Investors, Corporations, and Markets

Behavioral Finance: Investors, Corporations, and Markets

How to Cite

Morck, R. (2010) Loyalty, Agency Conflicts, and Corporate Governance, in Behavioral Finance: Investors, Corporations, and Markets (eds H. K. Baker and J. R. Nofsinger), John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118258415.ch24

Author Information

  1. Stephen A. Jarislowsky Distinguished Professor of Finance and Distinguished University Professor, University of Alberta

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 20 SEP 2010

ISBN Information

Print ISBN: 9780470499115

Online ISBN: 9781118258415

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Keywords:

  • agency conflicts;
  • corporate governance;
  • loyalty;
  • shareholders;
  • social psychology

Summary

This chapter contains sections titled:

  • Introduction

  • Agency Problems Generalized

  • Alternative Explanations

  • Voice and Loyalty: Disengaging the Agentic Shift

  • Dissenting Peers

  • Rival Authority Figures

  • Dissent as Loyalty

  • Peer Review

  • Agentic Shift as a Behavioral Factor in Corporate Finance

  • Voice as Loyalty

  • Summary and Conclusions

  • Discussion Questions

  • About the Author

  • Ackowledgments