haku: @author Erturk, I. (et al.) / yhteensä: 2
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| Tekijä: | Erturk, I. (et al.) |
| Otsikko: | Against agency: a positional critique |
| Lehti: | Economy and Society
2007 : FEB, VOL. 36:1, p. 51-77 |
| Asiasana: | agency theory management pay shareholders |
| Kieli: | eng |
| Tiivistelmä: | This article uses the changing historical and theoretical frames within which management pay and investor claims are considered to provide a critique of the functionalist approach of agency and to develop an alternative, positional explanation of reward. The article draws on the contrast between the pre-1940 critique of the rentier and the post-1980 discursive construction of the shareholder to raise important contemporary questions about position and reward. It also develops the idea of positional rewards to challenge agency assumptions by arguing the both giant firms managers and the less visible group of intermediates use their position to skim value. Finally it argues that a renewed emphasis on position will enable a problem shift from value creation to value capture. |
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