{"id":"https://openalex.org/W2153045136","doi":"https://doi.org/10.2307/258573","title":"Agency and Transaction Cost Perspectives on the Manager-Shareholder Relationship: Incentives for Congruent Interests","display_name":"Agency and Transaction Cost Perspectives on the Manager-Shareholder Relationship: Incentives for Congruent Interests","publication_year":1988,"publication_date":"1988-04-01","ids":{"openalex":"https://openalex.org/W2153045136","doi":"https://doi.org/10.2307/258573","mag":"2153045136"},"language":"en","primary_location":{"id":"doi:10.2307/258573","doi":"https://doi.org/10.2307/258573","is_oa":false,"landing_page_url":"https://doi.org/10.2307/258573","pdf_url":null,"source":{"id":"https://openalex.org/S46763546","display_name":"Academy of Management Review","issn_l":"0363-7425","issn":["0363-7425","1930-3807"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316266","host_organization_name":"Academy of Management","host_organization_lineage":["https://openalex.org/P4310316266"],"host_organization_lineage_names":["Academy of Management"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Academy of Management Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5061641223","display_name":"Benjamin M. Oviatt","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I115475287","display_name":"Oklahoma State University","ror":"https://ror.org/01g9vbr38","country_code":"US","type":"education","lineage":["https://openalex.org/I115475287"]},{"id":"https://openalex.org/I155781252","display_name":"University of South Carolina","ror":"https://ror.org/02b6qw903","country_code":"US","type":"education","lineage":["https://openalex.org/I155781252"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Benjamin M. Oviatt","raw_affiliation_strings":["Benjamin M. Oviatt (Ph.D., University of South Carolina) is Assistant Professor of Management in the College of Business Administration at Oklahoma State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Benjamin M. Oviatt (Ph.D., University of South Carolina) is Assistant Professor of Management in the College of Business Administration at Oklahoma State University","institution_ids":["https://openalex.org/I115475287","https://openalex.org/I155781252"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5061641223"],"corresponding_institution_ids":["https://openalex.org/I115475287","https://openalex.org/I155781252"],"apc_list":null,"apc_paid":null,"fwci":16.6055,"has_fulltext":false,"cited_by_count":124,"citation_normalized_percentile":{"value":0.98614492,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"13","issue":"2","first_page":"214","last_page":"214"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9932000041007996,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9932000041007996,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11912","display_name":"Outsourcing and Supply Chain Management","score":0.00279999990016222,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10797","display_name":"Accounting and Organizational Management","score":0.0010999999940395355,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/agency-theory","display_name":"agency theory","score":0.8579999804496765},{"id":"https://openalex.org/keywords/transaction-cost-economics","display_name":"transaction cost economics","score":0.9509999752044678},{"id":"https://openalex.org/keywords/managerial-incentives","display_name":"managerial incentives","score":0.7390000224113464},{"id":"https://openalex.org/keywords/monitoring","display_name":"monitoring","score":0.5040000081062317},{"id":"https://openalex.org/keywords/opportunism","display_name":"opportunism","score":0.8830000162124634},{"id":"https://openalex.org/keywords/managerial-interests","display_name":"managerial interests","score":0.6650000214576721},{"id":"https://openalex.org/keywords/shareholder-interests","display_name":"shareholder interests","score":0.921999990940094}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.6834952235221863},{"id":"https://openalex.org/C98965940","wikidata":"https://www.wikidata.org/wiki/Q877496","display_name":"Transaction cost","level":2,"score":0.682066023349762},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.6799356341362},{"id":"https://openalex.org/C108170787","wikidata":"https://www.wikidata.org/wiki/Q3951828","display_name":"Agency (philosophy)","level":2,"score":0.6009824275970459},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.5753494501113892},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5550876259803772},{"id":"https://openalex.org/C200707436","wikidata":"https://www.wikidata.org/wiki/Q1053211","display_name":"Principal\u2013agent problem","level":3,"score":0.4922401010990143},{"id":"https://openalex.org/C75949130","wikidata":"https://www.wikidata.org/wiki/Q848010","display_name":"Database transaction","level":2,"score":0.46712878346443176},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.4444039463996887},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.4391447901725769},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.3934817612171173},{"id":"https://openalex.org/C39549134","wikidata":"https://www.wikidata.org/wiki/Q133080","display_name":"Public relations","level":1,"score":0.323744535446167},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.31801173090934753},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3011053204536438},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.26055699586868286},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.2318318784236908},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.19482234120368958},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.17378389835357666},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.2307/258573","doi":"https://doi.org/10.2307/258573","is_oa":false,"landing_page_url":"https://doi.org/10.2307/258573","pdf_url":null,"source":{"id":"https://openalex.org/S46763546","display_name":"Academy of Management Review","issn_l":"0363-7425","issn":["0363-7425","1930-3807"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316266","host_organization_name":"Academy of Management","host_organization_lineage":["https://openalex.org/P4310316266"],"host_organization_lineage_names":["Academy of Management"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Academy of Management Review","raw_type":"journal-article"},{"id":"doi:10.5465/amr.1988.4306868","doi":"https://doi.org/10.5465/amr.1988.4306868","is_oa":false,"landing_page_url":"https://doi.org/10.5465/amr.1988.4306868","pdf_url":null,"source":{"id":"https://openalex.org/S46763546","display_name":"Academy of Management Review","issn_l":"0363-7425","issn":["0363-7425","1930-3807"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316266","host_organization_name":"Academy of Management","host_organization_lineage":["https://openalex.org/P4310316266"],"host_organization_lineage_names":["Academy of Management"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Academy of Management Review","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":65,"referenced_works":["https://openalex.org/W57257504","https://openalex.org/W576029247","https://openalex.org/W578321413","https://openalex.org/W615573717","https://openalex.org/W1489018916","https://openalex.org/W1502670054","https://openalex.org/W1522765403","https://openalex.org/W1566344170","https://openalex.org/W1571720745","https://openalex.org/W1604951427","https://openalex.org/W1761611300","https://openalex.org/W1890850610","https://openalex.org/W1978682914","https://openalex.org/W1980956348","https://openalex.org/W1981314212","https://openalex.org/W1981776219","https://openalex.org/W1982218054","https://openalex.org/W1982364866","https://openalex.org/W1984194297","https://openalex.org/W1992316020","https://openalex.org/W1998543507","https://openalex.org/W1999686839","https://openalex.org/W2003934805","https://openalex.org/W2012669847","https://openalex.org/W2018037152","https://openalex.org/W2022414989","https://openalex.org/W2028436159","https://openalex.org/W2041588623","https://openalex.org/W2041793139","https://openalex.org/W2044047748","https://openalex.org/W2044977185","https://openalex.org/W2055782955","https://openalex.org/W2079414640","https://openalex.org/W2079540826","https://openalex.org/W2081508653","https://openalex.org/W2110321237","https://openalex.org/W2110913180","https://openalex.org/W2120865613","https://openalex.org/W2129432581","https://openalex.org/W2140256961","https://openalex.org/W2143674845","https://openalex.org/W2154700690","https://openalex.org/W2160184254","https://openalex.org/W2162448899","https://openalex.org/W2313900440","https://openalex.org/W2326208397","https://openalex.org/W2333057202","https://openalex.org/W2335126927","https://openalex.org/W2529390668","https://openalex.org/W2566856888","https://openalex.org/W2642534790","https://openalex.org/W2726105884","https://openalex.org/W2752617332","https://openalex.org/W2772487859","https://openalex.org/W3016265253","https://openalex.org/W3121529001","https://openalex.org/W3122093892","https://openalex.org/W3122859634","https://openalex.org/W3123733296","https://openalex.org/W4230059119","https://openalex.org/W4240307802","https://openalex.org/W4250575851","https://openalex.org/W4298863114","https://openalex.org/W4300091974","https://openalex.org/W4302324995"],"related_works":["https://openalex.org/W2904415076","https://openalex.org/W2548566768","https://openalex.org/W2393652101","https://openalex.org/W2588191100","https://openalex.org/W2950979331","https://openalex.org/W2140087832","https://openalex.org/W4252978475","https://openalex.org/W4231378111","https://openalex.org/W2940469887","https://openalex.org/W4388875909"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,49],"manager-shareholder":[4],"relationship":[5],"through":[6],"agency":[7],"and":[8,20,37,40,53],"transaction":[9],"cost":[10],"theories.":[11],"The":[12],"literature":[13],"of":[14,51],"those":[15,35],"theories":[16],"suggests":[17],"several":[18],"incentives":[19,36],"monitoring":[21,38],"methods":[22],"that":[23],"may":[24],"control":[25],"opportunistic":[26],"behavior":[27],"among":[28],"managers.":[29],"Ten":[30],"hypotheses":[31],"are":[32,43],"proposed":[33],"concerning":[34],"methods,":[39],"methodological":[41],"suggestions":[42],"made":[44],"to":[45],"motivate":[46],"research":[47],"regarding":[48],"congruence":[50],"managerial":[52],"shareholder":[54],"interests.":[55]},"counts_by_year":[{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":4},{"year":2014,"cited_by_count":6},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}