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Do Top Managers Work Harder When They Are Monitored?

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Author Info
Barkema, Harry G
Abstract

This paper explores whether eclectic theory (principal-agent theory incorporating key insights of social exchange theory) leads to better predictions about internal control systems in corporations than does principal-agent theory. Eclectic theory is shown to be able to explain various 'puzzles' for principal-agent theory. Moreover, several predictions are tested on 1985 data on 116 executive board members of medium-sized Dutch firms. Consistent with predictions, the paper finds that when the principal is the board of directors or the CEO, monitoring is not the important control instrument suggested by principal-agent theory. When the principal is the CEO, such monitoring is in fact even detrimental. Copyright 1995 by WWZ and Helbing & Lichtenhahn Verlag AG

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Article provided by Blackwell Publishing in its journal Kyklos.

Volume (Year): 48 (1995)
Issue (Month): 1 ()
Pages: 19-42
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Handle: RePEc:bla:kyklos:v:48:y:1995:i:1:p:19-42

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  2. Armin Falk & Michael Kosfeld, . "Distrust - The Hidden Cost of Control," IEW - Working Papers iewwp193, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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  3. Marie-Claire Villeval & David Dickinson, 2004. "Does Monitoring Decrease Work Effort ? The Complementarity Between Agency and Crowding-Out Theories," Working Papers 0409, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure. [Downloadable!]
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  4. Sverre Grepperud & Pål Andreas Pedersen, 2001. "The Crowding-out of Work Ethics," Studies in Economics 0102, Department of Economics, University of Kent. [Downloadable!]
  5. Armin Falk & Michael Kosfeld, . "The Hidden Costs of Control," IEW - Working Papers iewwp250, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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  6. Bruno Frey & Lars Feld, 2002. "Deterrence and Morale in Taxation: An Empirical Analysis," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  7. Michael T. Rauh & Giulio Seccia, 2005. "Incentives, Monitoring, and Motivation," Game Theory and Information 0506008, EconWPA. [Downloadable!]
  8. Vittorio Pelligra, 2004. "How to incentive Who? Intra-personal and inter-personal mechanisms," Working Paper CRENoS 200404, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
  9. Michael Kuhn, 2006. "Delegating budgets when agents care about autonomy," Thuenen-Series of Applied Economic Theory 69, University of Rostock, Institute of Economics, Germany. [Downloadable!]
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