PERCEPTIONS OF BENEVOLENCE AND THE DESIGN OF AGENCY CONTRACTS: CEO-TMT RELATIONSHIPS IN FAMILY FIRMS

被引：352

作者：

Cruz, Cristina C. ^{[1
]}

Gomez-Mejia, Luis R. ^{[2
]}

Becerra, Manuel ^{[1
]}

机构：

[1] IE Business Sch, Madrid, Spain

[2] Texas A&M Univ, Mays Business Sch, College Stn, TX 77843 USA

来源：

ACADEMY OF MANAGEMENT JOURNAL | 2010年 / 53卷 / 01期

关键词：

VARIABLE RISK PREFERENCES; TOP EXECUTIVE COMMITMENT; CORPORATE-OWNERSHIP; TRUST; MANAGEMENT; COMPENSATION; PERFORMANCE; MODEL; PAY; DIRECTORS;

D O I：

10.5465/AMJ.2010.48036975

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this study, we view the contracts of top managers from an integrated agency theory-trust perspective, arguing that two conditions reflecting CEO risk bearing, top management team (TMT) behavioral uncertainty and CEO vulnerability, are negatively related to a CEO's perceptions of TMT benevolence toward him-/herself, which in turn influence the protective features of TMT contracts. Model tests on data from 122 family-owned firms in Spain support our hypotheses overall. Agency theory may be enhanced by accounting for a CEO's perceptions (as principal) of TMT benevolence and for the effect of those perceptions on contracts with TMT members (as agents).

引用

页码：69 / 89

页数：21

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