Factors that Explain the Principal-Agent Relationship in Six Companies of the City of Manizales

Abstract

This study aims to determine the factors that explain the relationship between principal and agent in six institutions from different economic sectors (education, services, metallurgy, solidarity and financial economy) in the city of Manizales. The study is based on the conceptual foundations of the neo-institutional current, which are framed in neoliberal and microeconomic models interpreted in the light of agency theory. As research strategy, the methodology consists of a multiple case study, which focuses its interest on a number of cases where each case has its own identity. The factors that determine the principal-agent relationship in these six institutions are explained by contract, incentives and controls motivational factors, both intrinsic and extrinsic, are also identified.