[태그:] agency theory

Frey, B. S., &Osterloh, M. (2005). Yes, managers should be paid like bureaucrats. Journal of Management Inquiry, 14(1), 96-111.

Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause great damage. Agency theory’s insistence to link the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot be overcome by improving variable pay for performance as selfish extrinsic motivation is reinforced. Based on the common pool approach to the firm, institutions are ...

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