The Three-dimensional View of Power and Agency Theory: What is Lukes’ Contribution?
DOI:
https://doi.org/10.51359/1679-1827.2022.250176Keywords:
Agency Theory, Three-Dimensional View of Power, Conflict, Main-Agent RelationshipAbstract
Purpose:The article aimed to analyze the agency theory in the light of Lukesand his three-dimensional proposal of power that establishes the possibility of a latent conflict in organizations. Design/methodology/approach:The work was developed through bibliographic re-search, through analysis and comparison of theoretical references. Research, Practical & Social implications: It was noticed that, in the relationship be-tween shareholders and managers, the mechanisms of power are linked especially to the third dimension of power, which is involved in the manipulation of the principal over the agent by means of the maxim referring to ownership and the offering of ex-ecutive actions to manager. However, it is also necessary to consider the exercise of power by the agent, even though there is an asymmetry in the level of domination compared to the main one. Originality/value:The study revealed that, instead of emphasizing in the agency the-ory the dichotomy good versus bad, one must reflect on the domination and resistance in this process, which can start from both sides.
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