Managers as Agents Without Principals: An Empirical Examination of Agency and Constituency Perspectives

Huseyin Leblebici, Avi Fiegenbaum

Research output: Contribution to journalArticle

Abstract

This study empirically investigated the propositions generated from agency and constituency perspectives about the nature of the managerial role. The managerial role was conceptualized as an integral part of the existing outcome interdependencies and power relations among a set of constituencies. By using time-series data on 160 companies in 10 manufacturing industries and performing three-stage least squares (3SLS) analyses, it was found that both competitive and symbiotic outcome interdependencies exist among the constituencies of organizations, and that these interdependencies are related to the long-term average outcomes of these constituencies. The implications of thesefindings for the symbolic role of managers is discussed.

Original languageEnglish (US)
Pages (from-to)485-498
Number of pages14
JournalJournal of Management
Volume12
Issue number4
DOIs
StatePublished - Dec 1986

ASJC Scopus subject areas

  • Finance
  • Strategy and Management

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