Turning Agents into Psychological Principals: Aligning Interests of Non-Owners Through Psychological Ownership

Item Type Journal paper
Abstract

Principals who delegate tasks to agents face the perennial challenge of overcoming agency problems. We investigate whether feelings of ownership among senior managers in the absence of formal ownership can align agents' interests with those of principals, thus turning agents into psychological principals. Using a moderated mediation model, we find that psychological ownership is positively related to company performance through the mediating effect of individual-level entrepreneurial behaviour. We also find that the effect of psychological ownership on individual-level entrepreneurial behaviour and, ultimately, company performance is weaker for high levels of monitoring compared to low levels. These findings offer important contributions to agency, psychological ownership, and entrepreneurship literatures.

Authors Sieger, Philipp; Zellweger, Thomas & Aquino, Karl
Projects Sieger, Philipp (2011) Strategic Entrepreneurship and Succession in Family Firms [fundamental research project]
Journal or Publication Title Journal of Management Studies
Language English
Keywords Agency theory; psychological principials; psychological ownership; entrepreneurial behavior
Subjects business studies
HSG Classification contribution to scientific community
Refereed Yes
Date May 2013
Publisher Wiley-Blackwell
Place of Publication Oxford
Volume 50
Number 3
Page Range 361-388
Number of Pages 28
ISSN 0022-2380
ISSN-Digital 1467-6486
Publisher DOI 10.1111/joms.12017
Depositing User Prof. Dr. Philipp Sieger
Date Deposited 19 Dec 2012 13:32
Last Modified 23 Aug 2016 11:15
URI: https://www.alexandria.unisg.ch/publications/218811

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Citation

Sieger, Philipp; Zellweger, Thomas & Aquino, Karl (2013) Turning Agents into Psychological Principals: Aligning Interests of Non-Owners Through Psychological Ownership. Journal of Management Studies, 50 (3). 361-388. ISSN 0022-2380

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https://www.alexandria.unisg.ch/id/eprint/218811
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