Management Control Systems Through the Lens of the Agency Theory

Hana Vimrová ()
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Hana Vimrová: University of Economics, Prague

Chapter Chapter 48 in New Trends in Finance and Accounting, 2017, pp 523-536 from Springer

Abstract: Abstract The article focuses on the analysis and development of the agency theory framework and seeks to define the conditions and functions which management control systems (MCSs) should meet according to the agency theory. The aim is to assess to what extent, under what conditions, and whether at all the validity of the agency theory assumptions can be ensured and the functions of MCS realistically achievable. More specifically, the article discusses the theoretical foundations of the agency theory, but also pays attention to the stewardship theory, assesses current knowledge in the area of different approaches to MCSs through the lens of the agency theory, and suggests conditions and functions of MCS reflecting the principles of the agency theory and the stewardship theory, including their critical evaluation.

Keywords: Agency theory; Agency costs; Management control systems; Stewardship theory; Strategic performance measurement systems (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-49559-0_48

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DOI: 10.1007/978-3-319-49559-0_48

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