Article first published online: 5 MAY 2007
Journal of Management Studies
Volume 29, Issue 2, pages 131–154, March 1992
How to Cite
Hill, C. W. L. and Jones, T. M. (1992), STAKEHOLDER-AGENCY THEORY. Journal of Management Studies, 29: 131–154. doi: 10.1111/j.1467-6486.1992.tb00657.x
- Issue published online: 5 MAY 2007
- Article first published online: 5 MAY 2007
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.