TITLE:
Agency Costs in Family Business: A Review
AUTHORS:
Shuran Li, Xiaode Zuo
KEYWORDS:
Family Firms, Agency Cost, Altruism, Governance Mechanism
JOURNAL NAME:
Journal of Service Science and Management,
Vol.13 No.2,
April
28,
2020
ABSTRACT: Family business occupies an important position in the national economy of all countries in the world. The theoretical field has always been controversial about the agency costs of family businesses. This article reviews the agency conflicts in family businesses and the resulting agency costs. Relevant literature found the particularity and complexity of agency costs for family businesses. Finally, we proposed an agenda for future research.