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Good Cop – Bad Cop: Multiple Principals in Informal Investment Relationships
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Building and Real Estate Economics. KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Banking and Finance, Cefin.ORCID iD: 0000-0003-0920-6585
2009 (English)Conference paper (Other academic)
Abstract [en]

The principal-agent relationship (Ross, 1973; Jensen & Meckling, 1976) has been analyzed extensively in economics, in political science and, increasingly, within sociology (Kiser, 1999). The majority of economic papers on the principal-agent relationship has focused on a single principal and a single agent, or in our context, a single investor and a single investee. There is an increasing interest in moving beyond this traditional investor-investee dyad (Lockett et al., 2006). The present paper represents such an attempt, as it studies the dynamics in a specific case with multiple investors and a single founder. The case shows that in agency situations, principals can cooperate to influence the agent by taking on different roles towards the agent. In the case, some principals are distanced from the agent, while the one responsible for communication with the founder decreases his principality in order to reduce perceived hierarchical distance and emphasize perceived goal congruence

Place, publisher, year, edition, pages
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Business Administration
URN: urn:nbn:se:kth:diva-74366OAI: diva2:489473
6th AGSE International Entrepreneurship Research Exchange. University of Adelaide, South Australia. February 3-6, 2009
QC 20120507Available from: 2012-02-03 Created: 2012-02-03 Last updated: 2012-05-07Bibliographically approved

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Fili, Andreas
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Building and Real Estate EconomicsCentre for Banking and Finance, Cefin
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